Indifi Business Loan

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Indifi is a Non-Banking Financial Company (NBFC) that offers business loans to Small and Medium Size Enterprises (SMEs) at an interest rate of 21.99% onwards. The company offers term loans for businesses to overcome their financial crunch or for expansion. Indifi provides business loans to small and medium enterprises that have limited access to financial institutions that include banks. Businesses which are unable to provide collateral are offered term loans from Indifi. The NBFC collates data of businesses from various sources and consider their creditworthiness by checking their credit scores before loan sanctioning.

                                                                       Indifi Business Loan 2019 
Interest Rate 21.99% onwards
Processing Fee Up to 2% (One-time)
Loan Tenure Up to 36 months
Loan Amount Up to Rs. 50 lakh
Min. operational history Min. 2 years
ITR 2 years ITR for more than Rs. 10 lakh
VAT VAT returns for last 12 months
Collateral / Security Not required

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.

Indifi Business Loan Features
Types of Indifi Business Loan
Required Documents
FAQs:

Indifi Business Loan Features

  • Business loan of amount up to Rs. 50 lakh in under 24 hours
  • Minimum documentation
  • Increased chance of approval with Indifi
  • Specific loan products to meet business requirements
  • No hidden charges
  • Transparent and hassle-free process
  • Flexibility in choosing loan tenure and repayment period

Calculate your Monthly EMI on : Business Loan EMI Calculator

Types of Indifi Business Loan

Overdraft Facility

Overdraft facility or line of credit is offered to provide frequent cash inflow. Line of credit is used by businesses to pay debts or on-time regular payments. Line of credit can also be used to pay off vendors, extend credit to customers and to meet seasonal demands.

Invoice Discounting

Invoice discounting means availing instant cash against the cash payments locked in outstanding invoices. The vendor no longer needs to wait for the client to clear the invoice, instead they can avail instant cash from indifi against the outstanding invoice. The maximum loan amount offered by Indifi in form of invoice discounting is up to Rs. 1 cr and up to 90% of invoice value. By availing this loan, the vendors are no longer required to wait for the outstanding payments from their clients. In this case, the vendor has to repay the loan only when they receive payment from their client.

Merchant Cash Advance

Merchant Cash Advance is a loan that is offered to businesses with significant transaction happening via card swipes. Companies or enterprises require money to expand their business, operation, stock more inventory, extend credit line. To overcome this situation companies are offered with unsecured Cash Advance Loans from Indifi.

                                            Merchant Cash Loan Eligibility
Cash swipe history Min. 6 months
Minimum monthly transaction Rs. 50,000
Business operational history Min. 2 years
ITR 2 years ITR for loans above 10 lakh

Required Documents

  • Business Registration Proof
  • PAN card of the vendor
  • Aadhar Card of the promoter
  • Last 6 months’ bank statement
  • KYC documents of the applicant and the company

FAQs:

Ques. What is the interest rate for the business loan offered by Indifi?

Ans. The interest rate offered starts from 21.99% per month on reducing balance.

Ques. What is the processing fee charged?

Ans. One time processing fee of 2% is charged.

Ques. Do I require any collateral or security to avail a business loan?

Ans. No, there is no requirement of any security as it’s an unsecured collateral free loan.

Ques. Can I use the loan amount for various other purposes?

Ans. As it’s a business loan, therefore it can be used only for business related purposes like business expansion, renovation, purchase of equipment, marketing, hiring, etc.

Ques. How to apply for a business loan?

Ans. You can apply by visiting the official website of Indifi

Ques. What are the segments catered by Indifi by providing business loan?

Ans. Indifi offers business loan to retailers, manufactures, service providers and traders.

Ques. What are the types of loans offered by Indifi?

Ans. Indifi offers various types of loans that include invoice financing, term loans, line of credit / overdraft and merchant cash advance.

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