business loan

Business Loan Frequently Asked Questions

Up to ₹50 Lakh | Attractive Interest Rate |Minimal Documentation

It is important to know all about Business Loans and get answers to any doubts or unanswered questions before you apply. Here are the most frequently asked questions about the Poonawalla Fincorp Business Loan.

Can I get a Business Loan for a new business from Poonawalla Fincorp?

To qualify for our Business Loan, you must maintain an annual turnover of at least ₹6 Lakh and have a business vintage of a minimum of two years.

Do I have to visit a physical branch to apply for a Poonawalla Fincorp Business Loan?

If you wish to apply for our Business Loan, you can either choose to visit our branch or apply online instantly in just a few simple steps with minimal documentation.

How can I apply for the Poonawalla Fincorp Business Loan online?

To apply online, follow these simple steps:

Visit our Business Loan webpage

  • Click on ‘Apply Now’ button.
  • : Fill in the required details on the loan application form.
  • Upload the necessary documents.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Do I need to pledge assets to apply for a Small Business Loan?

Not at all! Our Business Loan is an unsecured offering. You only need to meet the simple Business Loan eligibility criteria to qualify for business financing.

Can I borrow money online for short-term finance requirements?

Yes. You can apply for the Poonawalla Fincorp Business Loan online, in just few simple steps, and repay comfortably over a tenure that lasts up to four years.

What should I keep in mind before applying for a Business Loan?

The best way to prepare for a Business Loan is to use the EMI calculator. This online tool helps to calculate Business Loan EMI amounts accurately and gives you an advantage in loan planning.

How does the EMI calculator help with loan planning?

The EMI calculator displays the EMI amount and gives access to the amortisation schedule. All this information can help during decision-making for a loan and is vital for determining your repayment strategy.

How much processing fee is applicable on the Business Loan?

When you apply for a Poonawalla Fincorp Business Loan, you are charged a processing fee of up to 3% of the sanction amount plus applicable taxes.

Where can I find the charges applicable on a Business Loan?

The full list of Business Loan fees & charges. is available on our website. Please check it thoroughly before going ahead with the loan application process.

When is the best time to prepay a Business Loan?

You can prepay a Business Loan at any time if you have sufficient funds as it reduces the overall interest outflow. However, you should ensure that it does not adversely affect the day-to-day operation of your business.

Are there any downsides to foreclosing a Business Loan?

Foreclosing a loan might affect working capital reserves if not planned thoroughly. You may be required to pay a minimal foreclosure charge under certain circumstances, which adds to the expense.

What is the maximum tenure for a Business Loan?

With a Poonawalla Fincorp Business Loan, you can opt for a repayment tenure of up to 48 months.

Who can apply for a Poonawalla Fincorp Business Loan?

Our Business Loan can be availed of by any business entity that has an annual turnover of at least ₹6 Lakh. There are other criteria as well which have been listed in Business Loan eligibility criteria.

What are the documents required for a Small Business Loan?

Business owners seeking funds through our Business Loan will have to submit KYC documents, business financial documents, business registration documents, etc. to successfully apply for the loan. Additional documents may be required during the loan process.

What are the KYC documents required for a Business Loan?

The KYC documents required to apply for a Business Loan include any of the following:

  • Company PAN Card, Aadhaar Card, Passport, Driving Licence, Voter ID, Director/Proprietor/ Partner PAN Card, Aadhaar Card, Passport, Driving Licence, Voter ID
  • Proprietor/Partner/Director PAN Card, Aadhaar Card,Passport, Driving Licence, Voter ID, Electricity Bill/Rent Agreement/Passport.
  • Personal Docs - All Individual/Partner/Director - PAN Card, Aadhaar Card,Passport, Driving Licence, Voter ID & Officially Valid Documents + Proof of Address (If not as per Officially Valid Documents)
  • Business Docs - Business Registration Proof + Business Address Proof (if not as per Business Registration Proof)

Any additional documents required will be specified during the loan process.

How can I get instant approval?

To get instant approval, simply meet all the Business Loan requirements and apply online. Through the online procedure, you don’t have to wait in queues or visit a branch.

Is there a minimum turnover amount to get a Business Loan?

Yes. The business must maintain a minimum annual turnover of ₹6 Lakh to qualify for our Business Loan.

Why is the credit score important for a Business Loan?

A borrower’s credit score is important because it helps assess their creditworthiness, i.e. their ability to repay the loan on time. A high credit score (750 and above) is ideal for becoming eligible for a Business Loan.

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