Generally, the loan that is given to the merchants is called merchant loans. To get a business loan you need to be a businessman. And the trader who must have a trade license, only if he has a trade license can be called a trader. Traders usually have to rely on loans to expand their business. Necessary documents of application for a business loan
Many times traders get in trouble for getting loans because they do not know the proper rules and regulations. Find out what you need to know to get a business loan. What documents need to be prepare and which banks in Bangladesh provide loans to traders on easy terms, at low-interest rates.
Merchant loan application
For the convenience of SME entrepreneurs to apply for the loan, a checklist has been prepared by the bank / financial institution for the required documents from the loan applicants for loan disbursement. The following are some of the most common types of loan disbursements in Bangladesh:
- SME loan
- CC Loan
- Sonali Bank Merchant Loan
- Agrani Bank Personal Loan
- Islami Bank Merchant Loan
- Government loan
- E loan
Business loan
In this case, it is necessary to say that the decision to provide mining is taken by the concern officials in light of the own policy of the bank / financial institution. This checklist or list can be helpful for entrepreneurs who are interested in taking a bank loan.
Properly filled mine application form
Renewed trade license.
Current account in the bank in the name of a business organization.
National Identity Card.
Drug license (applicable to drug business).
BSTI Certificate (in the case of a food manufacturing company).
DC approval (in case of diesel and acid business).
Petrobangla Certificate (in case of diesel and octane business).
Bank report for last 1 to 3 years (Demand of different banks is different).
Shop/house rental agreement.
Document of position.
TIN Certificate.
VAT certificate (if applicable).
Electricity bill
Telephone bill.
- Certificate of latest educational qualification.
- List of employees’ names, titles, and monthly salaries.
- Certificate (in case of import and export business).
- List of stocks and their current prices.
- List and value of fixed assets.
- List of debtors.
- List of creditors.
If there is a loan elsewhere at present, its details.
01 report of Bangladesh Bank, it is to be note here that the form of this report is provide to the entrepreneur by the financial institution concern. If the entrepreneur fills the form properly then the concern institution completes the formality of collecting the report from Bangladesh Bank.
Passport size photographs of both my applicant and guarantor. Note that financial
Institutions can take multiple guarantors as per their requirements. Many organizations take family members as guarantors in addition to the original guarantor. If the guarantor is a trader, his trade license and report
Sales and financial statements for the last 1 year of the business.
Necessary documents of application for a business loan