Those whose business has been profit making for the previous 2 years. The business should have a Minimal Annual Income (ITR) of Rs. 1.5 lakhs per annum. The applicant should be at least 21 years at the time of applying for the loan, and should be no older than 65 years at the time of loan maturity. Credit scores, annual revenue, business plan and collateral are the four cornerstones of most business loan applications. But note that there are many other supporting documents you’ll need to qualify for a business loan.