Working Capital Loan - Apply for Working Capital Finance in India
With Poonawalla Fincorp, one of India's leading NBFCs (Non-Banking Financial Companies), you can get a Business Loan to meet your working capital and other short-term financial needs for your business. You can use the funds to pay employee wages, buy new machinery, maintain cash flow, etc.
Our working capital loan is collateral-free and is available at the most competitive interest rate starting at 15% p.a. Also, we offer flexible repayment tenure and require minimal documents. Apply Now!
Working Capital Loan EMI Calculator
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EMI Amount = *
Working Capital Loan Interest Rates and Charges
When you apply for a Working Capital Loan for Hospital, you must know the associated charges to get a clear picture of the overall borrowing cost.
| Business Loan Interest Rates | 15% p.a onwards |
| Loan Amount | ₹5 Lakh to ₹75 Lakhs |
| Loan Processing Fees | Up to 3% plus applicable taxes |
| Lowest EMI per month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 - 48 months |
| Prepayment/Foreclosure Charges | 5% on principle outstanding plus applicable taxes |
| Default Interest | 2% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Working Capital Loan Eligibility Criteria
Our Working Capital Loan criteria are minimum so that you get maximum benefits.
Age
Between 24 and 65 years
Citizenship
The applicant must be an Indian citizen
Business Vintage
The business must be in operation for at least 2 years
Business Turnover
Business must have a minimum turnover of ₹6 Lakh
Note: The eligibility mentioned above list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Documents Required
Our simple documentation process ensures that you don’t deal with a lot of paperwork. You only need to submit a few basic documents, including:
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KYC Documents
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Bank Account Statement
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Business Address Proof
- KYC Documents: Company PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
- Bank Account Statement: Bank account statement for last six months
- Business Address Proof: Utility bill/Rent agreement
Note: The above-mentioned loan documents list is indicative. Additional documents may be required during loan processing.
Features and Benefits of Working Capital Loan
Poonawalla Fincorp offers Working Capital Loan of up to ₹75 Lakh for all small and medium-sized businesses. We aim to provide financial assistance to all businesses and help them grow and expand their operations. The complete online process makes borrowing a hassle-free experience. Other features and benefits of this loan, include:
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Simple online application
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Instant disbursal
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Minimal documentation
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Competitive interest rates
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Simple eligibility
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Zero hidden charges
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Flexible EMIs
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High loan amount
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Minimum processing fees
- Simple online application: Just hit the ‘Apply Now’ button to get started with the working capital loan application process.
- Instant disbursal: Get the loan directly into your bank account after verification.
- Minimal documentation: Provide your KYC documents and address proof.
- Competitive interest rates: Interest rate starts from 15% per annum.
- Simple eligibility: Our simple eligibility requirements ensure that you easily qualify for the loan.
- Zero hidden charges: All fees and charges are disclosed.
- Flexible EMIs: Repay the loan at your convenience with a loan tenure of up to 60 months.
- High loan amount: Depending on your business’ financial requirements, you can avail a loan of up to ₹75 Lakh.
- Minimum processing fees: We charge a nominal one-time processing fee of up to 3% applicable taxes.
Apply for Working Capital Loan within 5 Minutes
With Poonawalla Fincorp, you can apply for a Working Capital Loan for business online and get quick approval. You must follow a few simple steps mentioned below:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be transferred to your bank account instantly.
Apply for Instant Working Capital Business Loan within 5 Minutes
Apply
Online
Apply Online
Click on Apply Now and enter your contact details.
Business
Details
Business Details
Enter your annual business turnover and other business details.
Verification
Verification
The application will then proceed for verification and assessment
Frequently Asked Questions
Applying for our Working Capital Loan is easy. You can do it online from the comfort of your home or office by following these simple steps:
- Step 1: Click on ‘Apply Now.’
- Step 2: Fill in the application form with necessary details, like DOB, qualification, residential address, etc.
- Step 3: Submit all the necessary documents for verification.
Once your documents are verified, the approved amount will be credited to your bank account.
A Working Capital Loan is specially designed to help business owners get funds for their short-term business needs. It allows them to keep their business operations running smoothly without worrying about cash crunch.
You can avail of a Working Capital Business Loan to meet various business-related financial obligations like buying raw materials, paying employee salaries, clearing existing debt, maintaining healthy cash flow, etc.
Poonawalla Fincorp offers a Working Capital Loan for small and medium-sized business owners. You can avail of a high loan amount up to ₹75 Lakh to meet all your business expenses. Also, the interest rate of our loans is the most competitive in the market, starting at 15% p.a.
The interest rate on Working Capital Loan varies from one lender to another. At Poonawalla Fincorp, we offer such loans at competitive interest rates ranging from 15% p.a.
When you apply for a Working Capital Loan with Poonawalla Fincorp, you must pay a nominal one-time processing fee of up to 3% of the loan amount and the applicable taxes. Apart from this there are no other additional charges involved.
The easiest way to calculate the EMI you need to pay for Working Capital Loan is to use our EMI Calculator. It is an easy-to-use online tool that allows you to compute the EMI instantly simply by entering basic details like, loan amount, interest rate and loan tenure.
Knowing the EMI of your loan beforehand is a good practice as it helps you manage your finances better.
Working Capital Loan for Working Capital Loan is a type of credit that business owners can avail to meet their daily working capital requirements and manage their daily operations.
All businesses require sufficient working capital to meet everyday expenses and maintain financial stability. You can calculate the working capital requirement for your business by listing down all the expenses you must incur everyday to maintain smooth functioning of the business.
Now you have all the expenses listed, allocate funds for each of these expenses. The total sum of these expenses would be your capital requirement. It is better to have a little additional fund reserve to meet any unexpected and urgent expense.
If you have any shortage of working capital that is affect your business, you can apply for a Working Capital Loan from Poonawalla Fincorp and get the funds at competitive interest rate, starting at 15% per annum.
For any business, working capital is paramount for the smooth operation and growth. It allows you to meet the short-term financial obligations, capitalise on growth opportunities, maintain steady operations, pay the vendors/suppliers. Also, having a sufficient working capital allows you to have a financial safety net during emergencies.
If you have any such requirement, you can apply for Working Capital Loan from Poonawalla Fincorp at competitive interest rate starting from 15% per annum.
The four main components of working capital are:
- Cash: It is the most liquid component of working capital, and it includes cash in hand, bank deposits, etc.
- Accounts Receivable: This is the money that the business is due to receive from customers and/or other parties.
- Inventory: This includes the raw materials, finished goods stocked in the business premises, the products/materials under production, etc. Inventory ties up capital but is necessary to meet customers’ demand and maintain a smooth production process.
- Accounts Payable: Accounts Payable represents the amount business owes it to vendors and suppliers. It represents business’ short-term debts and obligations.
*Terms & Conditions Apply
