Get a Business Loan of ₹5 Lakh
Apply for our ₹5 Lakh Business Loan online and take your business growth to new heights! From expansion to purchasing new equipment, our unsecured loan covers any and all of your business needs. Enjoy a hassle-free online application process with minimal paperwork, competitive interest rates, and quick approval that's designed to empower entrepreneurs like you. Apply now!
₹5 Lakh Business Loan EMI Calculator
Plan your repayments with our online Business Loan EMI calculator. Strategically map out your EMIs, ensuring you're on track with your monthly budget goals. Just insert your loan amount, interest rate, and loan tenure to see what your EMI could be. Try now!
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.
Meet these simple eligibility criteria to qualify for an instant Business Loan:
- Age: Between 24 and 65 years.
- Citizenship: Indian.
- Annual Turnover: Minimum ₹6 Lakh.
- Business Vintage: At least 2 years.
Submit the following documents:
- KYC Documents
- Business Address Proof
- Financial Documents
Click to know more about the documentation in detail.
Check the interest rate and charges of our loan:
After 6 EMIs: 5% on principal outstanding + taxes
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
- Expanding and renovating your business
- Diversifying into new products or services
- Purchasing the latest equipment or software
- Hiring additional employees
- Increasing reserves for working capital
- Capitalising on new opportunities
- A retail shop owner
- Sole proprietorship
- MSME (micro, small and medium enterprise)
- Women entrepreneurs
- Know your business needs
- Create a business plan
- Check your credit score
- Keep all the documents ready
Poonawalla Fincorp offers various types of business loans to help you meet your financial needs:
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Loan for Business Women
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Business Loan For Working Capital
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Business Loan for MSME
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Business Loan for Proprietorship
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Shopkeeper Loan
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Instant Business Loan
Happy Customers, Happy Us
Business Loan
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
Business Loan
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.
Business Loan
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.
Business Loan
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.
Business Loan
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!
Business Loan
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.
Business Loan
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.
Business Loan
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.
Business Loan
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.
Business Loan
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.
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.
Business Loan
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.
Business Loan
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.
Business Loan
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.
Business Loan
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.
Business Loan
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!
Business Loan
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.
Business Loan
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!
Business Loan
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.
Business Loan
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.
Business Loan
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!
Business Loan
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.
Business Loan
I am very happy with the service of the company and will recommend everyone to take loan from Poonawalla Fincorp.
Business Loan
The loan process was quick and transparent. No hidden charges, and the team guided me at every step. Will recommend everyone.
Business Loan
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.
Business Loan
No hidden charges, no surprises. The process was clear and smooth from start to finish.
Business Loan
The team guided me at every step and made the entire experience stress-free, will highly recommend to my friends - rating 10!!!
Business Loan
They tailored the loan to fit my business model. Truly customer-focused and satisfying service given by Poonawalla Fincorp, Highly Recommended!!!
Explore Different Types of Business Loans to Suit Your Needs
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Frequently Asked Questions
Interest rate starts from 15% annually and depends on your credit profile and business financials.
The interest rate for an unsecured business loan starts from 15% annually and depends on your credit profile and business financials. The final rate is determined after evaluating your business turnover, credit history, and overall risk assessment.
Yes, getting a loan if you have a low credit score is possible. Lenders consider various factors beyond credit score, including business performance and cash flow. However, a minimum CIBIL score of 750 is desirable.
Our streamlined digital process ensures quick disbursal and approval, typically within 24-48 hours of submitting the required documents and verification of the same. Once approved, the loan amount is disbursed directly to your bank account, often on the same day. This helps alleviate immediate financial constraints.
Yes, you can prepay your Business Loan before the loan tenure ends. However, there are foreclosure charges applicable as per the loan terms: 6% on principal outstanding (plus taxes) for up to the first 6 EMIs, and 5% on principal outstanding (plus taxes) after completing 6 EMIs.
If you miss an EMI payment, there'll be default charges of 24% per annum plus applicable taxes on the overdue amount. Opt for financial institutions that offer flexible repayment options so you can better plan your repayments. It's also recommended to set up auto-debit to ensure timely payments and maintain a good credit record.
A minimum credit score of 750 is part of the eligibility criteria for a ₹5 Lakh unsecured Business Loan. However, there are other factors that are considered, like business turnover, cash flow, and banking relationships. This way, applicants with slightly lower scores may still qualify.
You have the option of taking on a secured or an unsecured Business Loan, depending on urgency, amount, and other factors. Poonawalla Fincorp offers an unsecured loan, perfect for small businesses. You won't need to pledge any collateral, property, or assets as security, and approval is based purely on business performance and creditworthiness.
Eligibility for a ₹5 Lakh Business Loan typically requires the applicant to be aged between 21 and 65 years. Another requirement is that the business applicants should have at least 2 years of business stability to qualify for a ₹5 Lakh loan.
KYC documents such as PAN Card and Aadhaar Card are required when applying for a business loan. You also need income proof, such as the last two years' Income Tax Returns (ITRs), and business address proof. Overall, the minimal documentation makes the application quite seamless.
The application process to get a ₹5 Lakh Business Loan online is a pretty simple process. These are the steps:
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Click on the "Apply Now" button to initiate your loan application
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Enter your details, including DOB, PAN card number, monthly income, and residential information
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Upload the necessary documents for verification and approval
Yes, you can get an unsecured loan for business online, helping you meet your business expenses with ease. The entire application process is completely digital, which allows borrowers to apply from anywhere without visiting any physical branch or office.