Indifi business loan comes at a lucrative rate of interest along with the various benefits. It is a Non-Banking Financial Company (NBFC) that offers business loans to Small and Medium Size Enterprises (SMEs). Whether for the business expansion, purchase of new machinery, business property or investing in the new ventures Indifi business loan is among the best ways of finance. Indifi business loan helps the borrower to stay strong in the competition. It considered one of the best ways to finance all business needs. Indifi business loan is an unsecured loan. This business loan is EMI based loan that can be availed by the borrower who is planning for the expansion and growth of the existing venture. Indifi provides business loans for the maximum amount of Rs. 50,00,000 at pocket-friendly interest rates.
Indifi Business Loan Features & Benefits
- Indifi business loan is a collateral-free loan, which means no guarantor or collateral is required to back up the loan.
- Loan application approval is based on the applicant’s earnings, cash flows, strength or stability in business.
- Indifi business loan comes at a competitive rate of interest.
- A borrower can avail of Indifi business loan up to Rs. 50 lakhs without any security, guarantor, or collateral.
- Various types of business loans are offered by Indifi.
- A borrower can easily check his/her business loan eligibility online with a matter of a few minutes.
- The business loan amount gets transferred directly to the borrower’s bank account in a short time.
- Indifi facilitates borrowers with the flexible repayment tenure.
- Business loan from Indifi is easy to avail as one can apply for it online with the home comfort.
Types of Indifi Business Loan
Indifi offers various types of business loans which includes:
Term loans are the short-term loans offered to the businesses for capital expenditure and expansion among others. Indifi offers term loans with a tenor up to 32 months, these loans are tailor-made to suit the various financial needs of businesses. The Indifi term loans come with a maximum amount of Rs. 50 lakhs with the low-interest rate starts at 1.5% per month and with the processing charge of only 2%.
Credit line or Overdraft facility is offered to provide the frequent cash inflow. Line of credit is generally used by the businesses to pay debts or on-time regular payments. Indifi credit line business loans can be used up to 1 year.
Short term loans
Business may need access to the short-term funds for strengthening the working capital, cover the operational costs and expand the running business. Indifi offers short-term business loans with minimum documentation and quick disbursal of funds to provide a much-needed boost to the business and maximize profitability.
Invoice discounting is an alternative to the traditional business loans which gives you instant access to the cash locked up in business outstanding invoices. Indifi Invoice discounting is much flexible than term loan or overdraft loan, and is an excellent solution for improving cash flows, managing late payments, or keep up with the seasonal demand. Indifi invoice discounting comes up to Rs. 1 crore and with easy repayment.
Merchant cash advance
Merchant cash advance is considered as the best for businesses with the significant transactions happening through the card swipes. Businesses typically need money to expand their extend credit, operation, stock more inventory, or to reach out to more customers. Indifi offers a Merchant cash advance up to Rs. 50 lakhs with the tenor of 12 months.
Why Do MSME Need Business Loans from Indifi?
- To improve the cash flow and meet the goals and aspirations by increasing the cash flow of business.
- MSME Loan helps to expand the business, hire more employees and remodel the office building.
- To access the new technology to upgrade the latest technology by availing these loans.
- MSMEs may require a loan to purchase and experiment with the new equipment based on the project requirements. It is also helpful in establishing new machinery and plants as well.
- To meet the needs of the seasons, like to hire seasonal employees, stock on the inventory based on the requirements, etc.
- With the help of the MSME loan scheme, one can start business franchises in other cities and expand the brand’s geographical footprint.
- To fund the next or upcoming project opportunity.
Indifi Business Loan Eligibility Criteria
The eligibility criteria of Indifi business loan vary based on several factors like loan amount, type of availed loan scheme and others. Here are the generic eligibility criteria for Indifi business loan:
- Nature of the Business: Indifi Business loan can be availed for the sole proprietorship firm, partnership firm, and private limited company.
- Age: A borrower’s age should be a minimum of 23 years at the time of the business Loan application.
- Business Existence: Indifi business loan can be acquired for those businesses which are in working at for 1 year in the same locality/area.
- Location Ownership: A borrower should have the owner of the premises or should have a valid tenant agreement with the owner of the business location. In the case of rented premises, a residual period of a minimum of 3 years.
Required Documents for Indifi Business Loan
The list of required documents for Indifi business loans differs based on the type of loan a borrower is seeking. Here is the common documents list:
- Duly filled the application form.
- Passport-size photograph.
- PAN Card of the primary applicant and the enterprise.
- Bank statement of the last 6 months.
- Ownership proof of either residence or office.
- Latest ITR in case of a business loan of more than 15 lacs.
How do you apply for a Business Loan from Indifi?
- Step 1: Visit the website of Indifi
- Step 2: Click on the Apply Now button
- Step 3: fill up the basic details in the form like name, number, email id, etc and click on apply now. After submitting the form, the Indifi team will contact you.
Customer Care Number
A borrower can contact the Indifi by simply sending the message to them on the website.
Ques. How much loan can be availed in a business loan?
Indifi offers a maximum business loan amount of Rs 50,00,000 based on the business profile, repayment capacity, respective location, and other factors.
Ques. Who can avail of the Indifi business loan?
• The business owner needs money to grow. • The one who has experienced that getting a loan is difficult, Indifi have designed our process to simplify your loan journey • Multiple lenders and business understanding improve the chances of getting loans multi-folds. • The loans are flexible and customized to your needs going up to 50 lacs.
Ques. How do I repay the business Loan?
The Indifi business loan can repay through equal monthly installments (EMIs).
Ques. What are modes to repay the Indifi business loan?
A borrower can repay the loan through: • An auto-debit facility using NACH • Netbanking/ UPI • Cheques
Ques. Whether I need to provide some security to obtain a business loan?
No, the borrower does not require providing any security to obtain a business loan. As an Indifi business loan is collateral-free.
Ques. In how much time the loan amount will disburse?
After you submit the business loan application, required documents, the lender will disburse the loan amount in a short period provided you meet eligibility and everything else is also in order. All business loan approvals are at the sole discretion of the Indifi bank.
Ques. What are the documents required to acquire the Indifi business loan?
The basic documents required for the Indifi Bank business loan are: • PAN card, • Aadhaar Card • Business registration proof • Address proof of self and firm • Bank Statement of the last 6 months. • In case of loan more than 15 lacs, latest ITR
Ques. What is the rate of interest for the Indifi business loan?
A competitive interest rate is offered for a business loan. Indifi business loan interest rates differ based on factors like the profile of a business, financial assessment, credit history, loan amount, repayment tenure and others.