Loan amount is available from Rs. 25 lacs to Rs. 50 crores.
Hotel Funding @ 9.00% Onwards
• Maximum Tenure 10 years
• Doorstep assistances provided
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Eligibility Criteria
What you mean by Hotel Funding Eligibility Criteria?
Whether it’s a new hotel construction or expanding existing hotel infrastructure both require huge amount. Hotel funding is one such ideal way to fulfill your requirements, easy to apply, quick processing, minimal documents & lowest interest rates make it most preferable.
Hotel Funding Eligibility Criteria
There are few eligibility criteria you are required to have a look before applying for loan
- • Applicant should be in-between 25 –65 years
- • Minimum 3 year of business continuity
- • Minimum Latest 1 of ITR filed
- • Corporations, Agro-Industrial corporations
- • Must have good credit history
- • Applicant must be resident of India
Note: – You can get 75% of project cost as a maximum loan amount.
What are the factors generally affecting Hotel Funding Eligibility Criteria?
There are Top factors that generally affects Hotel Funding Eligibility Criteria as given below-
Unstable business: – Business is all about up & downs, but when the idea of availing loan emerge, Lender will check your business stability to determines repayment capacity & due to lack of stability in business recent loss may led to badly hit your eligibility.
Low credit rating: – A high Credit rating helps you to get benefits of negotiating interest & easy approval of loan & credit, wherein a low rating makes it hard to get a loan as repayment level seems high risky.
What are the ways to increase Hotel Funding eligibility?
To increase Hotel Funding eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Well business plan: – Usually for any project funding a well thought business plan requires to estimate the funding prospect, used equipment & technology, finally a revenue generation plan. Strong business plan will definitely going to boost your eligibility.
Maintain good credit: – Pay your loan EMI, bills on regular basis to avoid any kind of score affect in credit. If you are looking to close old credit cards, avoid doing that, as it can help you increasing credit limit as well as loan eligibility.
Documents Required
- PAN CARD COPY
- AADHAR CARD + PASSPORT
- ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
- LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
- LAST 1 YEAR BANK STATEMENT – SALARY ACCOUNT
- LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
- COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
- PROCESSING FEE CHEQUE IN FAVOUR OF BANK
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- COMPANY PROFILE & MANAGEMENT PROFILE
- ISO CERTIFICATE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCTION ESTIMATE
- LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
- ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- COMPANY PROFILE & MANAGEMENT PROFILE
- ISO CERTIFICATE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCTION ESTIMATE
- PARTNERS
- PAN CARD – COMPANY, ALL PARTNERS
- ADDRESS PROOF – ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
- FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST RETURN LAST 1 YEARS
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
- PROVISIONAL FINANCIAL AY 2019-20
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- COMPANY PROFILE & MANAGEMENT PROFILE
- POLLUTION CETIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING ONSTRUCTION ESTIMATE
- PHOTOGRAPH
- CLEAR PAN CARD – COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
- PROJECTED FEASIBILITY REPORT
- COMPANY PROFILE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCATION ESTIMATE
Frequently Asked Questions
This Hotel Funding Loan credit facility is provided for the expansion of business, construction of a hotel and good infrastructure.
- Applicant should be above 25 –65 years
- Minimum 3 year of business continuity
- Minimum Latest 1 of ITR filed
- Must have good credit history
- Applicant must be resident of India
Identity documents, kYC documents, Last 6 months current account bank statements, GST Registration Certificate, hotel Establishment Certificate.
- Low Interest Rate
- Minimal paper work
- Flexible tenure facility
- Simplified document processing
Youb can repay your Hotel Funding Loan up to 60 months.
Some simple steps you can get Hotel Funding Loan; –
- Select your ideal bank
- Check your cibil score
- Apply through website or visiting a branch
- Fill all documentation
- Accept the loan and start making payments.
The cibil score required for Hotel Funding Loan is 750 or above.
The purpose of getting Hotel Funding Loan is below given: –
- Hiring new employee
- Constructing a new building
- Relocating
- Purchasing hotel equipment
- Refinancing an existing hotel