NBFC Business Loan In India

The last few years have viewed a significant transformation in the way that non-banking financial companies (NBFC) function in India. Businesses have welcomed NBFC loan companies with open arms as they make the process of acquiring loans relatively hassle-free. Apart from contributing to the financial system, NBFCs also play their role in accelerating the infrastructural development as well as generating employment. A recent Financial Stability Report from RBI stated that NBFCs perform better than banks and are increasingly contributing more and more to the Indian economic growth.

If You Are Looking For NBFC Business Loan, You Can Avail

Upto 50 Lacs

Get loan upto 50 Lacs
depending upon the need

1.5% Per Month

Get amazingly low interest rate starting from 1.5% per month

2% Fees

We only charge 2% processing fee

36 Months

Get a loan with a tenure of upto 36 months

Eligibility For NBFC Business Loans

  • Minimum operational history of 2 years
  • 2 years ITR for >10 lacs
  • VAT returns for the last 12 months

Documents Required For NBFC Business Loan

  • Business Registration Proof
  • KYC documents of the applicant and the organisation
  • Bank statement for the last 6 months
  • Pan Card of the promoter
  • Aadhaar Card of the promoter

Features Of NBFC Business Loan In India

Where the existing banking institutions fail to cater to the need of growing small-scale enterprises, the need for a business loan from NBFC arises. The given points explain how the prospect of business loans from NBFC in India is changing the situation of businesses for the better

1. Relaxed Lending Norms: Over the years, several micro, small, and medium enterprises (MSMEs) have emerged in the Indian economy. These somewhat small scale businesses contribute at least a third to the Indian GDP. Such small-scale businesses require special lending norms. Applying for a loan in a bank involves investing a lot of time, a lot of paperwork and some collateral pledge. NBFCs, on the other hand, serve the purpose of lending money to small-scale businesses with relatively relaxed norms. NBFCs have become the go-to option for MSMEs as they fulfill their loan requirements readily. In some instances, companies are not even required to pledge collateral to obtain a business loan from NBFC. NBFC loan companies have made the whole process of getting funds more relaxed than ever.

2. Pre-Approved Loan Limit: Businesses enjoy a pre-approved loan limit upon taking a loan from an NBFC loan company. Companies can withdraw funds as per their requirement whenever they want. They do not have to request for multiple approvals from financing institutions every time they require funds.

Moreover, businesses only have to pay the interest for the amount that they use out of the approved loan limit. Banks, on the other hand, require companies to pay for the whole amount. Therefore, procuring a business loan from NBFC is more beneficial to businesses as they have to pay a lower monthly EMI.

3. Flexi-Business Loan Options: Flexi interest-only business loans provide the option of paying the principal amount at the end of the loan period. Companies only have to pay for the interest amount in the monthly EMIs, therefore, further decreasing the monthly EMI amount.

NBFCs are, thus, changing the prospect of business loans in India and are fulfilling the loan requirements of Indian businesses in the most comfortable manner possible.

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Frequently Asked Questions

WHY DO SMALL BUSINESSES USE INDIFI?

When asked, most business owners shared that access to capital is the single biggest roadblock to growing their businesses. With more cash flow, these businesses can hire new employees, purchase more inventory, take more orders, upgrade equipment and boost their marketing efforts.

HOW DO I APPLY FOR A LOAN?

Applying is quick and easy and typically takes less than 10 minutes. We ask for basic information about you and your business. Securely connect your bank information so we can assess your business without long forms, waiting in line or having to dig up old paperwork. Your association with business services who we have partnered with helps get you more fitting loans.

WHAT DOCUMENTS ARE REQUIRED TO AVAIL A LOAN?

We need your

  1. Pan Card
  2. Aadhaar Card
  3. Address proof of self and firm
  4. Business registration proof
  5. Bank Statement last 6 months.
    In case of loan more than 15 lacs, latest ITR