Small business loans

Business Loan for a Retail Shops

Loan up to 50 Lakhs | Low Interest Rate | Quick Disbursal | Easy to Apply

From re-filling stocks and paying staff salaries to expansion, retail businesses need funds for smoothly carrying out operations. Further, the inability to access finance at the right time, especially when there is a crunch, can negatively impact the business.

Poonawalla Fincorp Business Loans for Retail Shops ensure that retail businesses get quick access to finance to meet any short-term financial needs. Our favourable loan terms such as competitive interest rates, zero foreclosure, flexible payment schedule, and quick approval can provide retail businesses a much-needed boost to thrive and expand.


Reasons for Taking Business Loan for Retail Shops

  • Expanding business to a new location logo

    Expanding business to a new location

  • Purchasing inventory logo

    Purchasing inventory

  • Revamping the store logo

    Revamping the store

  • Renovating the shop logo

    Renovating the shop

  • Buying new furniture logo

    Buying new furniture

  • Meeting expenses such as rent, staff salary logo

    Meeting expenses such as rent, staff salary, etc.

  • Marketing and Advertising logo

    Marketing and Advertising

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Types of fee Applicable Charges
Rate of interest 15% to 28% p.a.*
Processing fees Up to 3% plus applicable taxes
Bounce charges ₹1,000 per bounce plus applicable taxes
Late Payment Charges 3% per month
Loan Amount ₹1 Lakh to ₹50 Lakhs
Lowest EMI per month Starting from ₹3,467* per Lakh for 36 months
Loan Tenure 6 - 36 months
Prepayment/Foreclosure Charges Zero*
Stamp Duty At actuals (as per state)
Penal Interest 3% monthly on the defaulted EMI amount

Our eligibility criteria for a Business Loan for Retail Shop are simple. Some of the conditions are as follows-

Age Requirement

Age

24 to 65 years

Citizenship Status

Nationality

Indian

Work Experience Required

Business in operation

At least two years

Monthly Salary Required

Business turnover

₹6 lakh or more

  • Applicant must be an Indian citizen
  • Aged between 24 and 65 years at loan maturity
  • Have a business in operation for a minimum of 2 years
  • Your business turnover is ₹6 lakh or more

Do note the above-mentioned eligibility criteria is indicative. Additional criteria may be considered during loan processing.

Our motto is to facilitate retail shop owners with quick and easy finance. Therefore, you need to submit minimal documents as listed below:

  • KYC Documents

    Proprietor/ Partner / Director PAN Card/ Company PAN Card

  • Income Proof

    Address Proof (Voter ID/ Aadhaar/ Passport)

  • Address Proof

    Address Proof for the place of business (Rent agreement/ Electricity, water bills, etc)

  • Financial Documents

    Financial documents (Six months Bank Statement)

  • Proprietor/ Partner / Director PAN Card/ Company PAN Card
  • Address Proof (Voter ID/ Aadhaar/ Passport)
  • Address Proof for the place of business (Rent agreement/ Electricity, water bills, etc)
  • Financial documents (Six months Bank Statement)

This is an indicative list. There may be a requirement for additional documents at the time of loan processing.

Poonawalla Fincorp aims to help retail businesses in India flourish with distinct features that can benefit retail business owners in the following ways:

  • high loan amounts of up to ₹50 Lakh

    Up to ₹50 lakh in Business Loans

  • Collateral free

    Collateral-free loan

  • Attractive and competitive interest rate

    Competitive interest rate

  • Instant disbursal loan

    Flexible loan tenure up to 36 months

  • Simple and minimal documentation

    Minimum processing fees

  • Sizable sanction up to ₹50 lakh logo

    Simple eligibility criteria

  • Hassle-free, online application provision logo

    Quick approval and fast disbursals

  • Foreclosure fees logo

    Foreclosure fees

  • No hidden charges logo

    No hidden charges

  • Apply online or offline logo

    Apply online or offline

Up to ₹50 lakh in Business Loans

Quickly get a loan of up to ₹50 lakh to boost your retail business.

Collateral-free loan

Poonawalla Fincorp’s Business Loan for Retail Shop is an unsecured loan. This implies that you do not need to pledge any assets to get the loan.

Simple eligibility criteria

In line with our aim to help retail businesses grow with our loan, we have kept the eligibility criteria for availing of the loan fairly basic.

Quick approval and fast disbursals

Time is of the essence for retail businesses. Our minimal document requirements ensure quick approval and disbursals.

Competitive interest rates

Starting from 15%, our interest rates are truly competitive in the market.

Flexible loan tenure up to 36 months

You can plan your repayment based on your convenience with our flexible loan tenures.

Foreclosure fees

A small 5% fee + taxes is levied on the outstanding loan amount on loan pre-payment.

Minimum processing fees

The Poonawalla Fincorp Retail Shop Loan has a one-time processing fee starting from 3%. This is applicable on the disbursement and is charged as an administrative fee for handling loan processing.

No hidden charges

We believe in being completely transparent and thus do not levy any hidden fees or charges.

Apply online or offline

Apply from the convenience of your home/shop or reach out to your nearest branch today.

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Online

Apply Online

Click on Apply Now and enter your contact details.

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Business
Details

Business Details

Enter your annual business turnover and other business details.

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Verification

Verification

The application will then proceed for verification and assessment

What is a retail shop loan and for what can I take it?

A retail shop loan is a loan tailored to help retail businesses meet their financial needs over the short term. It helps businesses to ensure smooth, hassle-free functioning.
You can avail of a retail shop loan to meet the operational needs of your business such as buying inventory, paying staff salary, maintaining cash flows, paying off utility bills, and more.

Who can avail of a retail shop loan?

Our interest rates for Proprietorship loans are competitive and affordable. Additionally, we levy a one-time nominal processing fee of 3% on the loan amount plus applicable taxes. It helps us in countering the administrative charges and providing best-in-class services to our customers.

What would be the EMI on my loan?

You can use our online calculator to check how much your EMI would be. Enter the loan details such as loan amount, tenure, and interest rate to know your EMI.

*Terms & Conditions Apply

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