There are several benefits of obtaining a business loan against property. As this type of loan is provided by mortgaging collateral, it usually offers lower interest rates and a longer repayment tenure than an unsecured loan. Godrej Capital Udyog Loan Against Property offers a higher loan tenure of up to 15 years and attractive interest rates starting at 11% p.a. only. This loan solution further offers higher loan eligibility by considering multiple sources of income. Even as the property of the borrower gets mortgaged to the lender in this loan offering, the borrower can continue to reside and habituate the property.

Here is a list of documents required to avail of a business loan against property – 

• Identity proof such as your Aadhar card and/or PAN card. If a firm/company is applying for a loan against property, they might also be required to submit their GST registration certificate and other applicable business registration documents.
• Address proof such as passport (for individuals), electricity bills (for the mortgaged property), and rental agreement (if applicable).
• Income proof documents including –
  
  
  • Salary slips for salaried individuals,
  • Income tax return statements for the past two years or so,
  • Profit/loss statement and balance sheet for the past two years or so,
  • GST returns (for self-employed businesses, companies, and firms),
  • Bank account statements such as salary credit statements and operative bank account statements for the last 3-6 months,
  • Property documents such as the title deed,
  • Credit score report and processing fee cheque.

This list is subject to change as per the borrower’s loan requirements.