Loan Against Property:

Loan against property (LAP) means a loan that is given or disbursed against the property. The loan is disbursed at a certain percentage of market value of the property, usually around 50% – 90%. Loan against property is the part of secured loan category where the borrower issues a guarantee by using property as security.

Advantages of Loan Aganist Property

• Lower interest rates as its secured loan.
• The loan amount can be used for Business Working Capital.
• Greater Credit Eligibility.

MINIMUM REQUIREMENTS FOR LOAN AGAINST PROPERTY

• Annual Revenue 1 Crore
• Credit Score
• Time In Business Two Years

Documents Required for Loan Against Property & Mortgage Loan:

• Pan Card / Pass Port
• Processing Fee Cheque
• Bank Statement
• Aadhar Card
• Copy Of Property Documents
• Latest OD/ CC Sanction Letter
• Last Three Years Balance Sheet
• Last Three Years Profit & Loss Account
• Last Three Years Income Tax Retune
• Proof Of Business