Most lenders have a business loan eligibility calculator which can give you a pretty accurate estimate of the loan amount you may be eligible for. Your overall eligibility is based on several factors including:
Credit Score: It is comparatively easier to get your loan sanctioned if you have a high credit score. Credit report reflects your creditworthiness, and is an important factor to determine the loan amount and the interest rates.
Business Liquidity: Your company should have positive cash flow by efficient management of cash inflows, and the expenditure. Lenders assess the liquidity status of the company before lending the money. Positive cash flow is another vital factor to determine the sanctioned loan amount.
Time in Business: Lenders like to lend to businesses that have proven themselves over a period of time. Well established businesses will have a track record of dealing with credit. It gives lenders a sense of security when lending a high amount.
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