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Small Business FinCredit (SBFC) Business Loan

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Updated: 06-04-2023 06:45:38 AM

Small Business Fin Credit (SBFC) is a non-banking financial company (NBFC) that offers banking and financial products and services to its customers. SBFC offers MSME loans at an interest rate of 12.50% p.a. onwards. The NBFC offers a range of credit facilities that include MSME loans, Business loans, Working capital finance, etc. The maximum loan amount offered is up to Rs. 75 lakh with a repayment tenure of up to 15 years.

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Types of Business Loans from SBFC – 2023

a) MSME Loan

Features:

  • Interest rate offered is 12.50% p.a. onwards
  • Loan amount: Min. Rs. 1 lakh & Max. up to Rs. 75 lakh
  • Loan tenor maximum up to 15 years
  • Loans disbursement time frame – 7 days
  • Assure maximum returns for your assets
Eligibility Criteria of MSME loan from SBFC – 2023
Category For Salaried For Self-employed
Age Limit Minimum 25 years of above Minimum 25 years of above
Income Proof Salary Slips (Min. Monthly Salary Rs. 20,000) Business related proofs
Residence Status Resident of India residing or owning a property Permanent resident of India

Documents Required

  • Legal Address Proof of business and individual
  • Copies of Sale and Purchase Bill
  • Copy of Partnership Task/ MoA and AoA
  • Certificate of salary for salaried individuals
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b) Business Loan

Features:

  • Loan Amount: From Rs. 2 lakh to Rs. 15 lakh
  • Collateral Free Loans
  • Repayment Tenure: Up to 4 years
  • Loan Disbursal Tenure: Within 5 working days

Eligibility Criteria

Indian citizen with regular source of income with minimum age 25 years and maximum 70 years are eligible for business loan.

Documents Required

  • Identity, Age, Address and Income Proofs
  • Proof of Address of business and individual
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FAQs

Ques. What is the official documentation required for the loan?

Ans. According to the guidelines of RBI there is a requirement of Proof of Identity, Proof of Address, PAN card for KYC requirements, Income document and Bank Statement to evaluate your loan eligibility.

Ques. What is the maximum loan repayment tenure?

Ans. The maximum loan tenure is up to 15 years.

Ques. Can i repay my MSME loan before the loan tenure?

Ans. Yes, you can but there shall be prepayment charges applicable by the lender.

Ques. How will i receive the money or loan amount?

Ans. The loan amount shall get disbursed digitally to your mentioned bank account.

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