Apply for Business Loan Online
Whether you aim to expand your operations or manage your working capital, having access to adequate funds is crucial. At Poonawalla Fincorp, we offer a comprehensive Business Loan that’s collateral-free, quick, and entirely digital. This ensures you spend less time on paperwork and more time growing your business. Apply now!
Business Loan EMI Calculator
Our Business Loan EMI calculator helps you estimate your monthly instalment based on the loan amount, interest rate, and tenure you choose. Simply input your desired loan value and repayment period, and the calculator instantly shows your EMI, total interest, and overall repayment amount.
Why Choose Poonawalla Fincorp
Apply for a Business Loan Online in Just 3 Steps
Click on “Apply Now”
Tap the “Apply Now”button to initiate your application.
Enter Details
Enter your DOB, PAN card number, monthly income, and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Understanding Business Loan eligibility is the first step toward achieving your goals. Our simple criteria make qualifying easy and hassle-free. Check your eligibility today and unlock the funds you need to grow, expand, or manage operations smoothly. Your success starts with meeting these straightforward requirements.
|
Age |
Between 24 and 65 years |
|
Citizenship |
Indian |
|
Business Vintage |
Minimum business vintage of 2 years |
|
Annual Turnover |
Minimum annual turnover of ₹6 Lakh |
Check your Business Loan eligibility criteria
Having the correct documents makes your Business Loan process smooth and quick. Prepare essential paperwork, such as identity proof, business registration, financial statements, and bank details. Meeting these requirements ensures faster approval and hassle-free funding. Gather your documents today and take the next step toward business growth. The following are the documents you will require for a loan application:
- KYC Documents
- Business Address Proof
- Financial Documents
Learn more about documents required for a Business Loan
Understand the interest rates and charges before applying for a Business Loan. Competitive rates, processing fees, and minimal hidden costs ensure transparency and affordability. Knowing these details helps you plan better and manage repayments smoothly.
After 6 EMIs: 5% on principal outstanding + taxes
Know more about Business Loan interest rates and charges
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
A Business Loan from Poonawalla Fincorp is versatile and can be used for a range of legitimate business purposes. Common uses include:
- Working Capital: Business owners often use the loan as working capital to manage everyday operational costs such as salaries, office rent, utility bills, and supplier payments.
- Inventory Purchase: Funds can be used to purchase raw materials or finished products in advance so the business can meet customer demand during busy or festive seasons.
- Business Expansion: Entrepreneurs may use the loan to open new outlets, expand into new markets, or increase production capacity as the business grows.
- Equipment and Machinery: A loan can support the purchase or upgrade of machinery, tools, vehicles, or technology that improves efficiency and productivity.
- Debt Consolidation: Businesses may choose to combine multiple existing loans into a single loan with one EMI, which can simplify repayment and make financial management easier.
- Emergency Needs: Unexpected expenses or temporary cash flow shortages can also be managed using the loan, helping the business continue operations without disruption.
Our business loans are designed to support a diverse spectrum of Indian entrepreneurs and business entities.
- Self-Employed Professionals: Doctors, Chartered Accountants, and consultants who run independent practices can apply for a Business Loan to manage expenses, upgrade equipment, or expand their professional services.
- Manufacturers and Traders: Proprietors and business owners involved in manufacturing or retail can use a Business Loan to manage working capital, purchase inventory, or upgrade equipment.
- Service Sector Businesses: MSMEs and small business owners running service-based establishments such as hotels, restaurants, or clinics can apply for a loan to support operational needs and business growth.
- Partnership Firms and Private Limited Companies: Registered partnership firms and private limited companies may seek business loans to fund expansion plans, invest in new projects, or strengthen operational capacity.
- Women Entrepreneurs: Women-led businesses can apply for a Business Loan to access capital for starting a new venture, expanding an existing enterprise, or improving business operations.
Understanding how your EMI is calculated helps you plan your finances better and choose the right loan structure. Business Loan EMIs are calculated using a standard formula that considers three key factors: the loan amount, the interest rate, and the repayment tenure.
EMI = P*R*(1+R)n/(1+R)n-1
Where:
● EMI = Monthly instalment
● P = Principal loan amount
● R = Monthly interest rate (annual rate divided by 12 and then by 100)
● n = Loan tenure in months
For example:
Loan Amount (P) = ₹10,00,000
Annual Interest Rate = 15%
Tenure = 36 months
Then:
Monthly Interest Rate (R) = 15 / 12 / 100 = 0.0125
Tenure in months (n) = 36
Plug these into the formula to get the EMI.
EMI = 10,00,000∗0.0125∗(1+0.0125)36/(1+0.0125)36−1
(1 + 0.0125)³⁶ ≈ 1.563
EMI = 10,00,000∗0.0125∗1.563/1.563−1
EMI = 19,537.519,537.519,537.5 / 0.563
EMI ≈ ₹34,660 per month
So, to calculate total repayment:
Monthly EMI = ₹34,660
Loan Tenure = 36 months
Total Repayment Amount: ₹34,660 * 36 months = ₹12,47,760
Total Interest Payable: ₹12,47,760 - ₹10,00,000 = ₹2,47,760
(Note: This excludes processing fees, taxes, and any other applicable charges.)
Our digital process ensures you can apply for a Business Loan from the comfort of your office or home.
- Check Eligibility and Prepare Documents: Review the lender’s eligibility criteria, including factors like credit score and turnover, and keep important documents, such as KYC proofs and financial statements, ready.
- Complete the Online Application: Fill out the digital application form on the website or mobile app by entering basic personal, business, and financial details required for the loan request.
- Upload Required Documents: Securely upload the necessary KYC, business, and financial documents through the online portal to support the information provided in your application.
- Verification and Loan Approval: The lender reviews and verifies your details, assesses your creditworthiness, and provides an approval if you meet the eligibility requirements.
- Agreement and Fund Disbursal: After final approval, you can sign the loan agreement, and the approved loan amount is disbursed directly to your bank account, often within a few days.
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Happy customers, happy us
The loan process was incredibly smooth, and the team was always available to answer my queries. With the funds, I was able to renovate my store and attract more customers. Truly grateful.
Getting a business loan felt daunting at first, but the entire experience was smooth and transparent. The loan helped me purchase new equipment and increase production. Highly recommend their services!
Excellent service and prompt communication. The loan process was seamless, and the funds were disbursed faster than expected. It’s great to work with professionals who understand business needs.
I needed quick funding to stock up for the festive season, and the business loan came just in time. The Credit Manager was proactive and ensured everything was done on priority. Excellent service!
Thanks to the business loan, I was able to open a second outlet. The team was very supportive and explained all terms clearly. I appreciate the personalized attention I received.
I’ve taken loans before, but this was by far the most professional experience. The documentation was minimal, and the disbursement was fast. I’ll definitely recommend them to fellow entrepreneurs.
The loan helped me bridge a critical cash flow gap during the festive season. The team was approachable and ensured everything was handled efficiently. Great experience!
The business loan helped me hire skilled staff and improved my business. The support from the credit team was outstanding. They understood my business and offered the right solution.
I am very happy with the service of the company and will recommend everyone to take loan from Poonawalla Fincorp.
The loan process was quick and transparent. No hidden charges, and the team guided me at every step. Will recommend everyone.
They didn’t just give me a loan—they gave me peace of mind during a tough time, Happy with the service of Poonawalla Fincorp.
No hidden charges, no surprises. The process was clear and smooth from start to finish.
The team guided me at every step and made the entire experience stress-free, will highly recommend to my friends - rating 10!!!
They tailored the loan to fit my business model. Truly customer-focused and satisfying service given by Poonawalla Fincorp, Highly Recommended!!!
I was impressed by how quickly my business loan was processed. The team was extremely helpful and guided me through every step. Thanks to their support, I was able to expand my operations without any hasstle.
I was hesitant at first, but the team explained everything clearly and made me feel confident. The loan helped me manage working capital and grow my business steadily.
The interest rates were fair and competitive, making it easy to manage cash flow for me. The process was smooth with the service and giving a rating of 10.
I run a chain of pharmacy stores with 5 branches in Pune. With the growing popularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficult for me to hire delivery persons. With Poonawalla Fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan application process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operation seamlessly.
Taking the loan was a bold move that transformed my business and boosted revenue. It gave me the financial push I needed to take that leap, and I’m glad I did. The support made a real difference in turning plans into progress.
The business loan came at just the right time, allowing me to stock up on raw materials and stay ahead of seasonal demand. What impressed me most was the repayment structure; it aligned perfectly with my cash flow, making the entire experience stress-free and sustainable.
I’ve taken loans before, but this was by far the most seamless experience. The team was highly responsive, and the funds played a crucial role in digitising my business operations. Truly a smooth and supportive journey.
The loan allowed me to upgrade my machinery and significantly boost production efficiency. The terms were clear, and the service was handled with utmost professionalism.
I was initially hesitant, but the loan process was so well-managed that I felt confident every step of the way. It enabled me to open a second outlet and expand my brand - an experience that truly exceeded expectations.
The loan helped me stock up inventory just in time for the festive season. Approval was swift, and the team truly understood my business needs. A smooth and supportive experience all around!
Excellent service and timely support! The loan enabled me to renovate my setup and enhance the customer experience. I'm truly grateful for the professionalism and efficiency throughout the process.
The business loan gave me the confidence to take on larger projects. With competitive interest rates and flexible repayment terms, the experience was smooth and empowering. Truly a great experience.
I never imagined getting a loan could be this easy. With minimal documentation and quick disbursement, the process was incredibly smooth. It came at a crucial time and helped me manage my cash flow effectively.
Securing a business loan marked a pivotal moment for our growth. The funds enabled us to invest in new equipment and significantly expand our operations. The team was transparent, supportive, and guided us every step of the way, making the entire process smooth and reassuring
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Frequently Asked Questions
A Business Loan is a source of business financing that offers funds to fulfil all your business needs, such as working capital requirements, funds for scaling up operations, inventory management, launching new products, spending on marketing, etc.
Any time is good to take out a loan for a business. However, you must have a minimum business of 2 years. You can take a Business Loan when you need financial support for various business purposes.
A Business Loan allows you to expand your business operations, fulfil working capital requirements, buy new machinery and equipment, etc. Taking this loan from Poonawalla Fincorp has various benefits like attractive interest rates, flexible repayment tenure, minimal document requirements, and a hassle-free application process.
Flexible loan tenure is one of the features of a Business Loan from Poonawalla Fincorp. It provides you with the benefits of choosing from a loan repayment tenure that ranges between 6 to 48 months as per your financial comfort.
You can secure a high loan amount of up to ₹75 Lakh with our Business Loan. The amount you can avail depends on you and your company’s financial and credit profile.
You only need to furnish a few essential documents to apply for a Business Loan with Poonawalla Fincorp. These include your KYC documents, business address proof and your financial documents.
A good CIBIL score of 750 or higher is generally required for a Business Loan. Higher CIBIL score proves your creditworthiness and makes you eligible for better borrowing terms.
While the eligibility criteria for a Business Loan may vary from lender to lender, in general, you must be an Indian citizen between 24 to 65 years of age having a minimum business vintage of 2 years and an annual turnover of at least 6 Lakhs.
Poonawalla Fincorp offers a wide variety of business loans tailored to meet your unique business needs such as MSME loans, commercial vehicle loans, shopkeeper loans, working capital loans, small business loans etc.
With a 100% digital process and minimum documentation, approvals for a Business Loan are given almost instantly provided that you meet the complete eligibility criteria and submit all documents required.
Apply for a Business Loan from Poonawalla Fincorp in just 3 steps:
Step 1: Click on ‘Apply Now’.
Step 2: Upload the required documents.
Step 3: Get funds in your bank account.
On successful verification, the loan amount will be disbursed into your bank account.
You can still get a Business Loan without a CIBIL score. Here is what you must do:
- Provide 6 -12 months of bank statements, GST returns, and a clear business plan.
- Applying for a smaller amount, lower loan amounts are easier to approve.
- Adding a co-guarantor with a good credit score can improve your chances.
- Offering collateral assets like property or fixed deposits can help secure approval.
The Business Loan amount ranges from ₹5 lakh to ₹75 lakh.
You can track your loan status through:
• Online Portal or Website: Log in and use the tracking tool.
• Mobile App: Download the Poonawalla Fincorp app and check status.
• Customer Care: Call the helpline or visit a branch.
• Email/SMS Updates: Poonawalla sends regular updates.
You can repay your Business Loan with monthly EMIs.
Yes, you can apply for a Business Loan of up to ₹75 lakhs with Poonawalla Fincorp.
No, business loans are designed for business owners, self-employed professionals, and entities with at least 2 years of business vintage and a minimum turnover of ₹6 lakh. Salaried individuals are not eligible unless they have a registered business.
A CIBIL score of 750 or above is considered suitable for quick approval and better terms.
Generally, processing fees are up to 3.5% of the sanctioned loan amount, plus applicable taxes.
No, Poonawalla Fincorp offers collateral-free business loans. A guarantor is not mandatory, but having one can improve the chances of approval.