Capital Float is a Bengaluru based company which offers business loans to small and medium enterprises. It is a Non-Banking Financial Company that is registered with the Reserve Bank of India. Capital Float, the trade name of Zen Lefin Pvt. Ltd. was founded in the year 2013 by Gaurav Hinduja and Shashank Rishyasringa.
India is encouraging industrial growth today. Capital Float is doing its bit to help the nation along the path of progress. In today’s scenario, there is cut-throat competition, and finance is indispensable for businesses to survive and operate. This is where Capital Float steps in. By disbursing loans quickly and without overwhelming too much paper work, this company proves itself to be the friend all entrepreneurs need when they are in financial distress.
Capital Float Business Loans
Capital Float offers loans to small and medium enterprises at attractive rates. Applicants get the facility to apply for the loan online directly through Afinoz at attractive interest rates. They can do so by following simple steps:
- Apply online
- Select the repayment option
- Receive funds directly in the bank account in as less as 7 working days
Salient Features of Capital Float Business Loans
Some salient features of these loans are as follows:
- Loans are sanctioned with minimum fuss and limited paperwork
- There is total transparency in sanctioning the loan
- Loans can be applied online as well as offline
- Business Loans can be availed to increase working capital. Such a loan helps small and medium enterprises to buy more stock.
Service providers can take these loans to provide service to new orders. People in business can invest in plant and machinery and also improve the cash cycles. They can use these loans to push up sales and output to new heights.
Types of Capital Float Business Loans
Capital Float offers loans in various categories.
- Capital Float Merchant Cash Advance
- The Capital Float Term Finance
- Capital Float Online Seller Finance
Capital Float Merchant Cash Advance
- Capital Flow Merchant Cash Advance has a fairly easy format of requirements.
- You need to have operated your business at least for a year.
- Your turnover during the year you have operated your business needs to be Rs. 20, 00,000.
- The minimum monthly card value has to stand at Rs. 5, 00,000.
- You are required to have a vintage of six months at the very least.
- Another criterion is you should be able to show six settlements per month as a minimum.
Capital Float Term Finance
Small and medium businesses which have been running for three years are eligible for a loan in this category.
- Your company must have a turnover of Rs. 1 crore.
- Your company must be able to show its audit reports by the tenured auditor.
- The company’s CIBIL score has to be 650 or above.
Capital Float Online Seller Finance
- The borrower does not need to offer any collateral if he/she intends to take a loan in this category.
- If there is a partnership, it must be at least six months old.
- The business must be at least one year old.
- Your quarterly sales must stand at Rs. 75,000 or more.
Capital Float offers its customers credit criteria suited to them personally.
It is an online format that takes into consideration market fluctuations during peak and lean seasons of manufacturing industries. These and other similar factors make Capital Float very successful in a market where there are numerous players.
The company aims at making borrowing and investment safe as well as hassle-free. It coordinates with banks both private and public sector ones. Nonbanking financial institutions and mutual funds are also in the company’s ambit so that the borrower gets the best quotation for the desired product. Added to this is the facility of longer-than-available-in-the-market tenure
Features & Benefits
Benefits of Business Loans from Capital Float
- Loans from Capital Float are in a class of their own
- Ease of doing business with this company is unparalleled
- Interest rates are competitive
- Collateral or security is not required
- The turnaround time is the shortest in the industry
- Online applications make it easy to get loans
- There are clearly defined segments in the online form for borrowers so that each category of borrowers knows what paper work to bring to the table
- The processing fee, cutting across all loan categories and loan values, remains the same
- It charges 2% of the loan amount as processing fee
Time Required for Loan Disbursal from Capital Float
When loans are required in a hurry, Capital Float is the best company to approach. Loans are cleared within seven days and disbursed within seventy two hours. The borrower can choose repayment cycles on his terms, according to his needs and expected cash flow.
Extent of Business Loans
- Loans are provided to emerging industries which can grow fast.
- The industrial sectors in which these loans are given are clothing, hospitality, food preservation, and other allied services.
- Loans ranging from Rs. 1, 00,000 to Rs. 50, 00,000 are available to borrowers.
- New entrants who seek loans could be manufacturers, traders, retailers and distributors.
- Loans can be used for expanding business-to-business ties or for strengthening business-to-customer ties.
- Capital Float provides loans to young entrepreneurs and start-ups.
- It also participates in angel funding to encourage industrial growth in the country
The organization aims at providing funds to emerging enterprises that desire to expand their businesses. These loans can also be used to tide over a crisis in some areas of the business.
Capital Float Business Loan Calculator
Capital Float business loan calculator makes it easy to calculate whether you are eligible for a loan from the company or not. The company also has a business loan EMI calculator which enables you to calculate your equated monthly installments, or EMIs easily. This can be done even before you approach the company for a loan. It helps you to gauge whether you qualify for the loan and whether you can afford it.
Eligibility & Documents Required
Eligibility Criteria for Business Loans
- Most non-banking financial companies and banks have similar criteria for granting loans. Such requirements are mentioned below:
- The primary criterion in case of Capital Float for getting a loan is the age of the applicant. The applicant’s ideal age should be between 21 and 65 years.
- The business should show profits in the last two years. If you are seeking a loan for Rs. 15 lakh, it is expected that the business has been generating a profit of Rs. 1.5 lakh in the preceding two years (in the case of a private limited companies).
- If the applicant’s business runs in partnership, he/she will have to show sufficient proof of part ownership.
- Professionals who are running their own enterprise will have to show their educational qualifications and experience to prove they are eligible for a loan.
Documents Required for Capital Float Business Loan
If you aspire to take a business loan from Capital Float, you will need to have the following documents:
- Know Your Customer (KYC) documents for yourself and your promoter. Documents which you can use for Know Your Customer are:
- Aadhaar card
- Driving License
- Permanent Account Number (PAN)
- You can also use any government issued photo identity card to prove your identity, age and address. This applies to both you and your promoter.
- You will have to submit your current account details of the last one year.
- When you apply for Capital Float’s Merchant Cash Advance, you have to show your Value Added Tax certificates. These have to be available for six months before the loan is applied for.
- You have to make available to the company, your card statements of three months ahead of applying for the loan
- When you apply for Capital Float Merchant Cash Advance you will need:
- If Capital Float Term Finance is your requirement, then you need to keep ready the following documents:
- VAT returns for the last 12 months
- ITR – Financial documents for the last 2 years
- KYC documents of the applicant and the organization
- Bank statements for the last 6 months
- Loans or overdraft sanction letters (if any)
Capital Float Online Seller Finance applicants have to keep copies of the following documents handy to ensure a quick and smooth application process:
• Bank statements of the last six months
• KYC documents of both you as well as the organization
Capital Float Business Loan Interest Rate
18% to 24%
6 months to 36 months
2% of the total loan amount + GST
Allowed after 1 month
Rs. 1 Lakh to Rs. 1 Crore
Note: Interest Rates are liable to change periodically. Business loan interest rates in Capital Float & other fees and charges are subject to regular review and can vary from customer to customer. Capital Float business loan interest rates may vary depending on your creditworthiness & many other factors. The final interest rate will be based on different criteria, including the bank’s internal policies & applicable rates at the time of approval.
How to apply for Capital Float business Loan on Afinoz?
The best method to apply for Capital Float Business Loan is through the Afinoz platform. Capital Float has an exclusive tie-up with Afinoz.com. You can simply log on to Afinoz.com to check your business loan eligibility and apply for a loan.
Business owners can apply for a loan in Capital Float through Afinoz.com in the following three simple steps:
Eligibility Check - You need to make sure that you meet Capital Float’s business loan eligibility criteria on Afinoz.com. You can check it by following the steps mentioned below:
- Submit some basic details such as the employment type, business turnover, city, mobile number, email id on our business loan eligibility page
- Once you submit these details, our system intelligence then runs an algorithm and gets you a quick quotation on the best business loan options available to you immediately
- Loan Amount and Tenure - Once you meet the eligibility criteria, select the loan amount and tenure as per your eligibility and submit the application.
- Upload and Submit Documents - In the final step, fill out the application form along with details of the KYC documents and submit your application for processing by Capital Float. The institution then verifies the applicant's information and starts processing the loan for disbursal procedure.
At each step of the application process, Afinoz.com allows its applicants to keep track of the status of their application in real-time via SMS as well as through emails. Due to such simplified and fast processing, Afinoz.com has become the most popular option in this field.
Ques. What is the origin of Capital Float and its antecedent?
Capital float is the trade name of Zen Lefin Pvt. Ltd. It was founded in the year 2013 by Gaurav Hinduja and Shashank Rishyasringa. It is a Bangaluru-based non-banking finance company. Now it is registered with the Reserve Bank of India.
Ques. What is the USP of Capital Float?
Capital Float gives loans to small and medium enterprises at attractive rates. The loan processing mechanism that is totally transparent. Each loan application has a unique identification number. Borrowers can track the status of their loan on their mobiles and PCs with this number.
Ques. How much time is required for a loan to be sanctioned?
All things being on par, Capital Float sanctions loans within 7 days and the cash is disbursed within 72 hours. This is possible if all the requisite documents are uploaded with the loan application.
Ques. Does the company accept loan applications online?
Yes, the company accepts loan applications online. One can apply for the loan directly through Afinoz. All the data you upload is secure because it is kept strictly confidential in the company’s system. It is stored in an encrypted format digitally.
Ques. If the company function online only, how can ask if I have some questions or have some doubts?
Capital Float has a very efficient customer care unit. You can get answers to your queries at any time during the day or night, on any day of the week. All your doubts regarding terms and conditions or anything else pertaining to your loan will be dealt with by the customer care unit to your satisfaction once you align your company with Capital Float.
Ques. What documents need to be uploaded?
Different documents are required for different kinds of loans. In general, you will need to upload the following: a. Know Your Customer (KYC) documents. The same documents will be required for your promoter and /or partner also. You can use your Aadhaar card, Passport, Driving license or Permanent account number (PAN) card. You can also use any government-issued photo identity card to prove your identity, age and address. b. You will have to submit your current account details of the last one year. c. You must upload your Value Added Tax certificates. These have to be available for six months before the loan is applied for. d. You have to upload your card statements of three months ahead of applying for the loan e. Your CIBIL score should stand consistently at 650 or above. f. The company will need your audit reports for the last three years. These reports should show that your business has a turnover of a minimum of one crore.
Ques. What kind of loans is available in Capital Float?
Capital Float Company offers loans in various categories. 1. Capital Float Merchant Cash Advance 2. The Capital Float Term Finance 3. Capital Float Online seller Finance
Ques. What is the rate of interest and processing fee?
The rate of interest varies from 18% to 24%. The processing fee is 2% of the loan amount + GST.
Ques. Is there a provision for prepayment? What are the charges for prepayment if it is allowed?
Prepayment is allowed after one month from the date of disbursal and there is no prepayment charge or penalty.
Ques. How important is my CIBIL score to Capital Float?
Your CIBIL score tells Capital Float about your creditworthiness. It shows the company whether you have been paying your debts on time and regularly. If your score is good, the company will be happy to offer you a loan. If your score is weak, the company will have reservations about investing in your enterprise.
Ques. Is a Capital Float business loan right for my business?
Capital float helps businesses by providing short-term, flexible loans simply and efficiently. If you run a small or medium enterprise with frequent working capital requirements, a Capital Float loan will quickly provide you the necessary funds to manage cash flow, pay suppliers, or invest in growth.
Ques. How much can I borrow from a capital float?
Capital Float provides loans ranging from Rs. 1 lakh – Rs. 1 crore
Ques. How much does it cost?
Capital Float Business Loan interest rates start at 18% per annum with a processing fee of up to 2% of the loan amount.
Ques. Do I need to pledge property or machinery to get a loan?
No. Capital Float evaluates businesses solely on the strength of their cash flows and expected receivables.
Ques. How does a loan against receivables work?
Most banks & NBFCs today will only lend to businesses against fixed assets such as property. Capital Float lends on the basis of the strength of your cash flows and customer relationships. If you have ordered from well-reputed corporate customers, you can avail following unique Capital Float loan scheme today: • Loan against invoice: you can borrow up to 80% of the value of an outstanding invoice, and repay only after you receive payment from your customer
Ques. How do I repay a Capital Float business loan?
Capital float have loan products with flexible repayment plans, so you can choose what makes sense for your business. Loans against receivables can be paid back in a single “bullet” instalment at maturity, while unsecured loans are repayable via EMIs. All repayments can be made either via ECS or post-dated cheques.
Ques. Can I repay my loan before the due date?
Yes. Unlike most banks and NBFCs, Capital Float does not charge any pre-payment penalties if you close your loan early any time after the first 30 days.
Ques. What kinds of businesses does Capital Float lend to?
Capital Float works with small & medium enterprises across industries, including e-commerce, textiles & apparel, healthcare, auto and engineering, food processing, software, facilities management, and professional services. Borrowers are typically fast-growing SMEs with one or more well-reputed clients (e.g., MNCs, large E-Commerce players, publicly listed Indian corporates).
Ques. How do I find out if I’m eligible?
To apply, your business should fulfill the following criteria: • 1+ year in business • More than Rs. 25 Lakh in annual turnover • India-based. For the time being, the business must be based in Bangalore, Mumbai, Delhi, Pune or Chennai
Ques. My business is less than 3 years old. Can I still get a loan from Capital Float?
Yes. Capital float actively supports early-stage businesses led by capable and driven entrepreneurs. Unlike most banks and NBFCs today, Capital Float is happy to work with companies that have been operational for less than 3-5 years, so long as they have strong management and an excellentt financial track record.
Ques. I’ve been denied loan by my bank before. Can I still get a loan from Capital Float?
Yes. Approach to lending evaluates SMEs in a very different way from banks & NBFCs. Rather than focusing on hard collateral such as property; Capital Float looks at the strength of your cash flows and customer relationships. This means that it lends money to many businesses that have been denied loans by their banks.
Ques. What is the Capital Float business loan application process?
You can apply for a Capital Float loan from your desk within minutes via our online application through Afinoz.com. Once you submit the application, a representative will visit your office to collect the necessary KYC documents. The institution typically processes all applications within 7 days from submission and immediately transfers the funds to your account.
Ques. What information and documents are needed to apply?
One has to adhere to the following: • Basic company and promoter profile • Company financials via Tally • Bank statements and IT Returns • Invoice / Purchase Order information (for loans against receivables)
Ques. How do I know Afinoz is a secured website or not?
Afinoz.com takes the security of your information very seriously and has taken care to comply with the best practices in the industry. You can be assured that all the data provided is in good hands, and the information is handled in a very secure manner.
Ques. How quickly will I get a confirmation and receive funds?
Capital Float typically provides funding decisions within 7 days. The funds will be transferred to your designated bank account on the same day as approval.
Ques. Why is a Capital Float loan better than a bank/NBFC?
No requirement of property or machinery as collateral • Willing to lend to businesses less than 3-5 years old • The easy, quick, paperless online application process • Funds in your account within 7 days • Flexible loan tenures starting from 30 days up to 12 months • No pre-closure penalties • Flexible repayment options • Interest rates at par with effective rates charged by banks • No hidden fees (e.g., life insurance)
Ques. What's in it for you?
If you are wondering why you should choose us as your partner, then the following makes us worth your trust: 1. Real-time tracking – What could be better than getting the real-time update of your investment? At Afinoz, we make use of the latest financial tools that will help us keep track of all the information and updates. 2. Instant Approval- Another reason which makes us your trustworthy partner is instant approval that we offer. We ensure that your loan is approved in the desired timeline so that your work doesn’t stop. 3. Round the clock customer support- In addition to our leading services and excellent team, it is our customer support, which makes sure that we can help our clients with the queries and doubts. Our team ensures that you get the right information regarding investment and its updates. 4. Up-to-the-minute information- We all know that the financial market is highly dynamic, and with the right information, it will become easier for you to choose the right investment tool. Not only have we helped you with the information but also with the paperwork so that you don’t have to face the hassle of loan application and approval.