Take Your Small Business to the Next Level with a Loan of Up to ₹75 Lakh
Every small step matter when it comes to the success of your business. With Poonawalla Fincorp, you can get a Small Business Loan of up to ₹75 Lakh to meet your short-term financial requirements. You can use the funds to pay employee wages, buy new machinery, maintain cash flow, pay off existing debts, etc.
Our Small Business Loan is collateral-free, requires minimal documentation, and offers flexible repayment options. Ready to take your business to the next level? Apply for a Small Business Loan now!
Small Business Loan Interest Calculator
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EMI Amount = *
Small Business Loan Interest Rates and Charges
Know the interest rate and other associated charges to make an informed decision. Here’s the interest rate and charges chart:
| 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 |
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| Default Charges | 24% per annum |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
Small Business Loan Eligibility Criteria
The eligibility criteria for a Poonawalla Fincorp Small Business Loan are simple.
- Age - Between 24 and 65 years.
- Citizenship - The applicant must be an Indian citizen.
- Business Vintage - The company must be operational and running for at least 2 years.
- Business Income – The annual turnover of your business must be at least ₹6 Lakh.
Overall, these eligibility requirements have been put in place to ensure that the borrower can make the most of our services.
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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Basic KYC information
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Business address proof
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Financial documents
- KYC Documents – Director ,PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport.
- Business Address Proof - Rent agreement/utility bills.
- Financial Documents - Bank account statement for the past 6 months.
Features and Benefits of a Small Business Loan
Poonawalla Fincorp’s Small Business Loan is designed to help you achieve your business goals. Here’s a list of features and benefits:
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Collateral-free Loan
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High Loan Amount
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Attractive Interest Rates
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Minimal Documentation
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Flexible Repayment Tenure
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Zero Hidden Charges
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Online Application Process
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Quick Loan Disbursal
Collateral-free Loan
No need to pledge collateral to avail of a Small Business Loan.
High Loan Amount
Get up to ₹75 Lakh to meet the various business expenses.
Attractive Interest Rates
Enjoy competitive interest rates starting at 15%* p.a.
Minimal Documentation
Just upload a few documents to start the approval process.
Flexible Repayment Tenure
Enjoy a flexible repayment tenure between 6 and 48 months.
Zero Hidden Charges
We maintain complete transparency in our processes. All fees and charges are disclosed.
Online Application Process
Apply for a Small Business online in just a few clicks.
Quick Loan Disbursal
After approval and verification, the amount gets credited to your bank account.
Apply for Instant Small 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
Reasons to Get a Small Business Loan
You can use the loan to take care of different business-related expenses:
- Maintain sufficient cash flow.
- Expand business operations.
- Pay employee wages.
- Purchase new machinery or equipment.
- Pay overhead costs.
- Upgrade the company’s infrastructure.
How to Apply for a Small Business Loan?
Applying for a Small Business Loan with Poonawalla Fincorp is easy. Just follow three simple steps:
- 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.
Frequently Asked Questions
At Poonawalla Fincorp, we offer Small Business Loan at the most competitive interest rates in the market, starting at just 15% p.a. You can use the loan to meet different business-related expenses.
For Small Business Loan, we levy a nominal processing fee of 3% of the loan amount. This fee is charged as administrative cost.
No. At Poonawalla Fincorp, we provide unsecured Small Business Loan. So, you need not provide any collateral as security against the amount you borrow.
The easiest way to calculate the EMI on your Small Business Loan is to use our Business Loan EMI calculator. It is a free and easy-to-use tool that lets you know the exact EMI payable against the amount you borrow. To calculate the EMI, you must enter a few basic details in the calculator, such as interest rate, loan amount and loan tenure. Once you enter these details, the tool will display the results instantly.
Applying for a Small Business Loan with Poonawalla Fincorp is simple. You can do it online from the comfort of your home or office. To apply for the loan, follow the 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 approved amount will be transferred to your account.
The eligibility criteria for Small Business Loan at Poonawalla Fincorp are minimal:
- Age - Between 22 and 57 years.
- Citizenship - The applicant must be an Indian citizen.
- Employment Type - The applicant must have a full-time job and be employed with a private company or a government organisation.
- Work Experience - Must have at least one year of work experience and at least one month of stable employment with the current employer.
- Monthly Income - The applicant must earn a minimum monthly salary of ₹30,000.
*T&C Apply
