What is a Term Loan?
It’s a loan taken by Businesses to either cover short term obligations like raw material/inventory purchase, employee salary payment, etc.
What are the Documents Required?
Just these :
Business PAN & Address Proof
Certificate of Registration(if applicable)
Last 6 months Bank Statement
What’s the process to apply for Loan?
Our process is simple and is completely digital. Keep your bank statement & ITR acknowledgement handy during the process
Do I need to pledge any collateral?
No, the loan eligibility is purely calculated basis the Business performance and the credit profile of the business owner
How quick is the disbursement?
Though this depends on our NBFC partner we make sure that’s quick and hassle-free
How do I know if I am eligible?
You’re sorted if :
Your business turnover is more than ₹ 3 Lakhs
Your business is at least 6 months old
You are 18 - 65 years of age
How do I know my loan eligibility?
You can avail up to 15L, but that completely depends on your credit score & business performance
What is the rate of Interest?
Our rate of interest starts from 13% P.A, but that varies as per your profile & business performance
What would be the duration of the loan?
You have the flexibility to choose from 6 months to 36 months
How do I repay the loan?
Once your loan is ready to be disbursed, auto-debit will be set-up on your bank account for regular EMIs
Is there an option for pre-closure of loan?
Yes, it’s available