business loan

Collateral-free Business Loan
with festive offers

Attractive interest rates
starting from 15%* p.a.

100-digital-process

100% digital
process

Loan-Amount-up-to

Loan Amount
Up to ₹30 Lakhs

Business Loan Frequently Asked Questions

It is important to know all you can about the loan and get answers to any doubts or unanswered questions you may have. 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?

In order to qualify for our business loan, you must simply maintain an annual turnover of at least Rs.20 lakh. We require business vintage of minimum 3 years to lend the loan. We only offer loans for expansion.

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

No. You can apply online for a Poonawalla Fincorp Business Loan in just 5 easy steps and grow your business with ease.

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

To apply online, follow these simple steps.

  • Visit the business loan webpage
  • Click on ‘Apply Now’
  • Provide KYC, business, and financial documents
  • Await verification and loan processing
  • Receive loan approval
  • Authorise disbursal
Do I need to pledge assets to apply for a small business loan?

No, our business loan is an unsecured offering, and 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 5 simple steps, and repay comfortably over a tenure that lasts up to 3 years.

How should I prepare when getting a business loan?

The best way to prepare for a business loan is to use the EMI calculator. This online tool helps calculate business loan EMI amounts accurately, and give you a leg up in loan planning.

How does the EMI calculator help with loan planning?

The EMI calculator displays the interest payable, EMI amount, and gives access to the amortisation schedule. All of this information can help during decision making and is vital to finding cost-effective repayment strategies.

How much processing fee is applicable on the business loan?

When you avail a Poonawalla Fincorp Business Loan, you are charged a processing fee of up to 2% of the sanction.

Where can I find the charges applicable on a business loan?

The full list of business loan fees & charges is available online and within your loan documents. Please check these thoroughly before going ahead with loan processing.

When is the best time to prepay a business loan?

Anytime is a good time to prepay a business loan as it reduces the overall interest outflow. However, one should ensure that it does not lead to cash flow issues.

Are there any downsides of foreclosing a business loan?

Foreclosing works best when repaying a sizable amount, and doing so can affect working capital reserves. Further, you may be required to pay a foreclosure charge, which adds to the expense as well.

What is the maximum tenure for a business loan?

With a Poonawalla Fincorp Business Loan, you can opt for a tenure that lasts up to 36 months.

Who can apply for a Poonawalla Fincorp Business Loan?

This instrument is accessible by small or medium size business entities. Do note that all applicants must meet the business loan eligibility criteria in order to get approval.

What are the documents required for a small business loan?

Business owners seeking funds will have to submit KYC information, business financial documents, and business registration documents to successfully apply for the loan.

What are the KYC documents required for a business loan?

The KYC documents include company PAN Card, Director/Proprietor/ Partner PAN Card, Aadhaar Card, or Passport.

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 physical branch and can get fast approval.

Is there a minimum turnover amount to get a business loan?

Yes. The business must maintain a minimum annual turnover of Rs.20 lakh in order to qualify for the loan.

Why is the credit score important for a business loan?

A borrower’s credit score is important because it help asses creditworthiness.

Interest Rate

APR ranging from 15% to 26% | One-time Processing Fee up to 2% plus taxes.

Repayment

Flexible repayment tenure from 1 year to 3 years with pre-payment charges of 5% on principal outstanding plus applicable taxes.

Example

Loan Amount Rs.10 lakh, Interest Rate: 15%, Tenure: 3 years, equates to EMI of Rs. 34,665 per month.

This rate of interest is prone to fluctuation basis our internal credit and risk policy, and as per an algorithmic multivariate score card.
*T&C Apply

Apply for Business Loan Online in 5 Easy Steps Arrow Logo

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Apply
Online

Apply Online

Visit the application form and fill in the details.

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Submit
Documents

Submit Documents

Provide your KYC and Income documents.

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Verification

Verification

The application is then processed for loan verification

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Quick
Approval

Quick Approval

Get your loan approval in quick TAT

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Instant
Disbursed

Instant Disbursed

That’s it! Loan is credited in your bank account.

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