Required knowledge on Bank loan rules for new start ups by educated youth
It would be really helpful if anyone here in this circle can help me to understand what exact rule is there regarding bank loans for young educated youth who wants to build his/her own start up but lacks required fund or assets for bank loan security. more
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An ‘Inter-Ministerial Board’ led by the Department of Industrial Policy and Promotion will examine and validate the innovative nature of an enterprise, to qualify it as a start-up. It also requires a start-up to obtain a recommendation from an incubator in order to be eligible. The benefits to start-ups under the Action Plan are the tax breaks and funding support. The Action Plan waives income tax on profits for a period of three years and also exempts taxes on capital gains which are invested in the ‘fund-of-funds’. more
Jan 31
No idea about start up and which type of projects and ideas to be accepted and what is the procedure more
Jan 31
Recently I went to the Bank for loan for a start up. They asked for 3 years balance sheet? or take Collateral loans putting house or other assets mortgage. Here where the start ups fail. Please suggest how genuine starts up can get funding. more
Jan 29
On the mudra loan web site it has not mentioned about clear documents which are required for loan. The list is uncomplete. Yesterday when I went to Bank of Maharashtra , they asked to give balance sheet , IT return also. more
Jan 29
