working capital loan in india

Unsecured Business LoanReach a new milestone

Loan up to 30 Lakhs | Attractive Interest Rate | Zero Foreclosure Charges

Poonawalla Fincorp: Working Capital Loan

High-value Loan | Quick Processing | Online Application | Collateral Free

Businesses need money to conduct their day-to-day operations, such as procuring raw materials, paying wages to employees, clearing existing debts, etc. This money, known as working capital, enables the business to function efficiently and conduct its operations smoothly. A shortage of working capital might have detrimental effects on their productivity.

With Poonawalla Fincorp Business Loans for Working Capital, you can get access to quick funds to meet all short-term financial needs of your business. Moreover, our working capital loans are collateral-free and come with a slew of benefits such as flexible tenure, zero foreclosure charges, competitive interest rates, and quick approval.

Various Reasons to Take Working Capital Loan

By availing of the working capital finance from us, you can ensure seamless operations of your business. Our business loans for working capital allow you to infuse greater investment into your business and meet the enlarged financial demands during the peak season.

    Here are a few reasons why you must take a working capital loan from us:
  • Meet short-term financial needs
  • Pay emergency expenses
  • Renovate or expand business infrastructure
  • Pay for overhead costs such as rent, electricity, etc.
  • Maintain a healthy cash-flow

Poonawalla Fincorp provides working capital loans for small businesses with simple eligibility criteria and minimum documentation. Our goal is to make financing easy so that every business can prosper and succeed.

    Below are some salient features and benefits of our working capital loans:
  • Quick online application
  • Hassle-free loan approval
  • Minimum documentation
  • Easy eligibility criteria
  • High loan amount of up to ₹ 30 lakh
  • Competitive interest rates
  • Flexible repayment tenure
  • No hidden charges
  • Minimum processing fees
  • Zero foreclosure charges
  • Doorstep services

Our working capital loans come with basic eligibility requirements. It allows you to get access to funds for your business even during an emergency.

    Given below is our eligibility criteria for working capital loans:
  • Should be a citizen of India
  • Should be between 22 to 62 years of age
  • Should have a business vintage of a minimum of three years
  • The business turnover should be above ₹ 20 lakh

Documents Required

You can avail of working capital finance from us with minimum documentation.

    Below is the list of required documents for our working capital loan:
  • Company PAN card or Director/Proprietor PAN card
  • Proof of address (Aadhar card/Voter ID card/Passport)
  • Business Address Proof (Rent Agreement/Utility Bill)
  • Financial documents (Bank statements/IT Returns)

Note that the above-mentioned documents list is indicative. We may require some additional documents during loan processing.

You can apply online or offline and get access to working capital finance from the convenience of your home/office.

    Follow the five simple steps mentioned below:
  • Step 1 – Visit our website or your nearest branch
  • Step 2 – Check your eligibility for our Working Capital Loan
  • Step 3 – Fill up the loan application form
  • Step 4 – Upload or submit the required documents
  • Step 5 – Get the loan amount in your bank account post verification

What is a working capital loan, and why should I take it?
A working capital loan is a special type of loan given to business owners to help them address their short-term financial requirements. It enables them to conduct their business operations seamlessly without worrying about the cash crunch.
You can take a working capital loan to meet various financial obligations of your business, such as procuring raw materials, paying wages to employees, clearing existing debts, maintaining a healthy cash flow, and paying utility bills.

Who can take a working capital loan?
All small and medium scale businesses require funding from time to time, and hence, they can take a working capital loan to meet their financial requirements. Poonawalla Fincorp provides working capital loans for new businesses in India with simple eligibility criteria and minimal documentation.

What are the interest rates applicable for working capital loans?
The interest rate for a working capital loan varies from lender to lender. Poonawalla Fincorp provides business loans for working capital at competitive interest rates starting from only 15% per annum.

Do I need to pay any additional charges for availing of a working capital loan?
No. With Poonawalla Fincorp, you don’t have to pay any additional charges for availing of a working capital loan for your business. Our loans come with no hidden charges and complete transparency. We only charge a nominal one-time processing fee of 1 to 2 percent of the loan amount.

How can I calculate the EMIs I need to pay?
You can use our online working capital loan EMI calculator to determine your EMIs in advance. All you need to do is enter your loan amount, interest rate, and tenure in the space provided.

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

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