A Comprehensive Overview
If you’re considering a business loan, Poonawalla Fincorp in India offers tailored solutions to support your business growth. Here’s a detailed look at their business loan offerings, interest rates, and benefits.
What Does Poonawalla Fincorp Offer?
1. Loan Amount: Businesses can borrow up to ₹50 lakh depending on their needs and eligibility.
2. Interest Rates: Starting from 15% p.a., rates vary based on the applicant’s creditworthiness and financial stability.
3. Loan Tenure: Flexible terms between 1 to 3 years.
4. Eligibility Criteria:
– Applicant’s age must be between 24 to 65 years.
– Business vintage of at least two years.
– Minimum annual turnover of ₹6 lakh.
Key Types of Business Loans by Poonawalla Fincorp
1. MSME Loans: For small businesses to manage operations, inventory, or cash flow.
2. Working Capital Loans: To address day-to-day expenses.
3. Loans for Women Entrepreneurs: Tailored for women-led businesses to expand or diversify.
4. Professional Loans: Specifically for professionals like doctors, CAs, and company secretaries.
5. Medical Equipment Loans: Designed for healthcare professionals to purchase advanced medical tools.
Documents Required
– KYC Documents: Aadhaar, PAN, and proof of address.
– Business Proof: Registration certificates and financial statements.
– Bank Statements: Last six months of operative accounts.
These documents help assess your creditworthiness and expedite approval.
Benefits of Poonawalla Fincorp Business Loans
– Unsecured Loans: No collateral required.
– Quick Approvals: Fast processing for eligible businesses.
– No Prepayment Charges: If prepaid using own funds.
– Online Application: Hassle-free submission and tracking.
Example Calculation
For a loan of ₹5 lakh at 15% interest for three years, the monthly EMI would be approximately ₹17,333. Terms are subject to the company’s internal risk policies.
Why Choose Us?
We provide tailored loans from ₹5 lakh to ₹2 crores for businesses.
Low interest rates and flexible repayment options.
Apply Now for Your Business Loan!
For more information on Poonawalla Finance‘s offerings, visit their official website or trusted platforms like Paisabazaar.