- JUL 12 2022

What are the eligibility criteria for LuLu Business Loans?

  • Individuals/ Self-employed professionals [Firms / Companies or any other legal entity engaged in manufacturing / Service Trading are eligible to be financed under the scheme.
  • New or existing units can be considered under the scheme.
  • Net worth of the borrower/s shall be positive
  • Take over loans are permitted under the scheme.
  • Borrowers enjoying other credit facilities with other Banks/FIs can also be covered under the scheme. However, it will be ensured that same asset is not already financed.
  • Businesses filing GST returns shall be most preferred
  • Individuals- Minimum Age 24. Maximum Age at the end of loan tenor shall not exceed 70 Years.
  • Others: Minimum 2-year Business vintage
  • Turnover and profit should have a positive trend for the past two years.
    • Specific exclusions:
      • Real Estate
      • Jewellery
      • Capital Market
      • Activities of speculative nature.
      • Bar & Restaurant.
      • Rented residence cum office profiles.