Before applying, understanding business loan eligibility can help avoid rejections. Lenders assess business vintage, turnover, credit score, and financial health. Generally, businesses operational for at least 2 years with stable income are eligible. Keeping your documents updated and financials audited improves your chances. Also, compare eligibility norms of different banks or NBFCs to choose the best fit. Meeting the criteria increases approval chances and helps you get better loan terms.

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