You can get a maximum funding loan 90% of the project cost.
Solar Power Project @7.50% Onwards
• Get attractive scheme
• Much affordable interest rates
• Doorstep assistance available
• Much affordable interest rates
• Doorstep assistance available
Feel free to use our Our Finance Calculator
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
Eligibility Criteria
What you mean by Solar power project loan Eligibility Criteria?
This facility is offered to applicant who are looking finance for their solar power project cost, you can utilize this fund for the purpose of power plant, energy storage, hybrid solution & optimization technology.
Solar power project loan Eligibility Criteria
There are few eligibility criteria you are required to have a look before applying for loan
- • Individual & group of individuals can avail this facility
- • Positive cash flow out of operations in the organization
- • Company debt ought to be below 40% of its total assets.
- • DSCR (Debt Service Coverage Ratio) of the organization ought to be more than 1.5
- • For existing project, profitable of last 3 FY proof to be attached
- • Background of promoter should be good
Note: – You can get minimum 1 Cr to maximum 100 as a loan amount, generally, 75% of project cost are funded.
What are the factors generally affecting Solar power project loan Eligibility Criteria?
There are Top factors that generally affects loan Eligibility Criteria as given below-
Negative cash flow: – If you fail to manage good cash flow in business, you could also be unable to take loan as your chances get lower.
Too many loans: – Just because of having several loans, your debt-to-income ratio gets lower day by day which unable to get any other loan as your repayment capacity is lower.
What are the ways to increase Solar power loan eligibility?
To increase Solar power loan eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Strong business plan: – If you have a strong business plan to implement & execute with high revenue generation then most possibly your chances increase.
Higher credit score means higher loan amount: – Doing payments on time are the one-easy way to increase credit score as well as eligibility.
Positive cash flow: – Having a good cash flow will help to reduce liabilities on company & when you have good sales output & good revenue generation then undoubtedly
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
- PAN CARD CLEAR COPY PROPRIETOR
- 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
- COMPANY PROFILE & MANAGEMENT PROFILE
- ISO CERTIFICATE & MSME CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- 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 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
- 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
- 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
- ISO CERTIFICATE & MSME CERTIFICATE
- 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
For getting Solar Power Loans you should go to our website and apply online or visiting in branches then you have to fill the personal details. For getting more information please contact us.
Solar Power Project Loan are specially designed to establish project development and renewable energy goals.
For getting a Solar Power Loan you should required maximum 750 cibil score.
Some document you required for getting a loan like identity proof, address proof, passport size photo, company/firm document.
For getting a Solar Power Project Loan age should be above 22 years. Company cibil should be more than 750 and promoter has good knowledge and reputation.
