Business Loan Documents Checklist for Quick Approval

Getting a business loan approved quickly depends largely on having the right documents ready. This comprehensive checklist will help you prepare all necessary paperwork for faster business loan approval from ICICI Bank, HDFC Bank, and SBI Bank.

💡 Pro Tip:

Having all documents ready and properly organized can reduce your loan approval time from 15-30 days to just 7-10 days!

Essential Business Loan Documents

1. Business Registration Documents

📄
Certificate of Incorporation (for Private Limited Companies)
Original + photocopy
📄
Partnership Deed (for Partnership Firms)
Registered partnership deed with stamp paper
📄
LLP Agreement (for Limited Liability Partnerships)
Filed with ROC
📄
Shop Act License / Trade License
For proprietorship and all business types

2. Financial Documents

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Bank Statements
Last 12 months for all business accounts
💰
Audited Financial Statements
Last 2-3 years (Balance Sheet, P&L, Cash Flow)
💰
Income Tax Returns (ITR)
Last 3 years with computation of income
💰
GST Returns
Last 12-18 months (GSTR-1, GSTR-3B)

3. Identity & Address Documents

🆔
Directors/Partners KYC
Aadhaar, PAN, Passport for all stakeholders
🆔
Business Address Proof
Electricity bill, rent agreement, property papers
🆔
Office Photos
Interior, exterior, signage, and operational setup

Bank-specific Document Requirements

HDFC Bank

✓ Business vintage: 3+ years
✓ Annual turnover: ₹15 lakh+
✓ GST returns: 18 months
✓ CIBIL score: 700+
✓ Current account with HDFC preferred

ICICI Bank

✓ Business vintage: 2+ years
✓ Annual turnover: ₹10 lakh+
✓ Bank statements: 12 months
✓ CIBIL score: 650+
✓ Existing customer benefits

SBI Bank

✓ Business vintage: 2+ years
✓ Annual turnover: ₹5 lakh+
✓ GST returns: 12 months
✓ CIBIL score: 675+
✓ Government scheme benefits

Additional Documents by Business Type

Manufacturing Business

Factory license and NOC from Pollution Control Board
List of machinery and equipment with purchase invoices
Raw material supplier agreements
Product certifications (ISI, BIS, etc.)

Trading Business

Dealer/distributor agreements
Inventory statements
Major customer and supplier lists
Stock statements and warehouse details

Service Business

Service tax registration (if applicable)
Professional licenses (CA, CS, Engineer, etc.)
Client contracts and agreements
Office lease agreement

Document Preparation Tips

🗂️ Organization Tips:

• Create separate folders for each document category
• Keep both physical and digital copies
• Ensure all documents are within validity period
• Get documents attested where required

⚡ Quick Approval Tips:

• Submit complete application in first attempt
• Maintain healthy bank account balance
• Show consistent business operations
• Have a clear business plan ready

❌ Common Mistakes to Avoid:

• Submitting unclear or poor quality photocopies
• Missing signatures on documents
• Outdated financial statements
• Inconsistent information across documents

Timeline for Document Collection

Typical Timeline:

Week 1: Collect business registration and identity documents

Week 2: Gather financial statements and tax returns

Week 3: Obtain bank statements and GST returns

Week 4: Review, organize, and submit application

Ready to Apply for Business Loan?

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