Check Your Eligibility for a Business Loan
Check your eligibility for a business loan with our calculator. Enter basic details like your business vintage, annual turnover, monthly EMI and loan tenure to find out how much you’re eligible to borrow. This not only saves time but also helps you plan better, avoid rejections, and choose the right lender with confidence. Whether you're expanding operations, purchasing equipment, or managing cash flow, checking your eligibility is the first smart step toward securing the proper financial support.
How to Calculate Business Loan Eligibility
Follow the steps mentioned below to calculate your loan eligibility:
Step 1: Enter monthly income.
Step 2: Enter any existing loan EMIs.
Step 3: Enter the interest rate per annum.
Step 4: Enter loan tenure.
The loan eligibility calculator will show whether you are eligible for a Business Loan or not.
Benefits of Using a Business Loan Eligibility Calculator
Using a Business Loan Eligibility Calculator offers several practical benefits, especially for business owners. Here’s a breakdown of the key advantages:
- Quick Assessment of Loan Eligibility
A Business Loan Eligibility Calculator helps you instantly determine whether you qualify for a loan based on key inputs like your income, business turnover, existing liabilities, and credit score. This saves time compared to manually checking eligibility criteria across different lenders. It provides a clear idea of your potential borrowing without requiring a visit to a bank or submission of documents upfront.
- Better Loan Planning
Knowing your eligibility in advance allows you to plan your loan application more strategically. You can adjust your loan amount, tenure, or even improve your financial situation to increase your chances of approval. This proactive approach helps you avoid loan rejections and ensures a smoother processing experience.
- Comparison Across Lenders
Many calculators are designed to show eligibility across multiple banks or NBFCs. This allows you to compare which lender offers the best terms based on your profile. You can see variations in eligible loan amounts, interest rates, and tenure options, helping you choose the most suitable lender for your business needs.
- Saves Time and Effort
Instead of contacting multiple lenders or filling out lengthy forms, the calculator gives you a quick overview of your eligibility. This is especially useful for busy professionals who want to make informed decisions without spending hours on research or paperwork.
- Reduces Chances of Rejection
Using an eligibility calculator before applying reduces the risk of your loan application being rejected. Rejections can negatively impact your credit score and future borrowing ability. The calculator helps you apply only when you're confident of meeting the lender’s criteria.
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Frequently Asked Questions
Your business must have a minimum annual turnover of ₹6 Lakh to be eligible for a Business Loan from Poonawalla Fincorp.
A credit score of 750 or above is considered ideal and helps you get quick approval for a Business Loan. A high credit or CIBIL score indicates responsible borrowing behaviour and vice versa.
No, using a Business Loan Eligibility Calculator does not impact your credit score. It’s a soft check tool that doesn’t involve any formal inquiry with credit bureaus.
The calculator provides an estimate based on the information you enter. The lender determines final eligibility after reviewing your documents, credit history, and business performance.
Explore Different Types of Business Loans to Suit Your Needs
Happy Customers, Happy Us
I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf 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 applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.