Get the Best Business Loan Offer 
| Highlights of Protium Finance Business Loan | |
| Interest Rate | Starts from 1.5% per month |
| Loan Amount | Up to Rs 5 crore |
| Tenure | Up to 10 years |
| Processing Fee | Up to 4% of the loan amount |
Note: Rates as of 28 August 2023
Protium Finance Business Loan Interest Rates
| Loan Variants | Interest Rates (p.a.) |
| MSME/Business Finance | 1.5% per month onwards |
Protium Finance Business Loan Fees & Charges
Fees & Charges of Unsecured Business Loan
| Description | Charges |
| Processing Fee | Up to 4% of the loan amount |
| Refund of Processing Fee | Pre Sanction – fee paid less Rs 10,000 as administrative charges |
| Post Sanction – Nil | |
| Foreclosure Charges | Borrowers are not allowed to foreclose their loan in the first 12 months of the loan start date. After 12 months, foreclosure charges can go up to 6% of the principal outstanding. |
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Fees & Charges of Equipment backed Loans
| Description | Charges |
| Processing Fee | Up to 4% of the loan amount |
| Refund of Processing Fee | Pre Sanction – fee paid less Rs 10,000 as administrative charges |
| Post Sanction – Nil | |
| Application Fees / Initial Money Deposit | Charged time to time |
| Foreclosure Charges | Borrowers are not allowed to foreclose their loan in the first 12 months of the loan start date. After 12 months, foreclosure charges can go up to 6% of the principal outstanding. |
Fees & Charges of Property backed Loans
| Description | Charges |
| Processing Fee | Up to 4% of the loan amount |
| Refund of Processing Fee | Pre Sanction – fee paid less Rs 10,000 as administrative charges |
| Post Sanction – Nil | |
| Application Fees / Initial Money Deposit | Charged time to time |
| Part Prepayment Charges | Above 1 year of prepayment:
(i) No charges levied on prepayment of up to 25% of the outstanding loan amount of the financial year (ii) 5% is charged on the prepayment above 25% of the outstanding loan amount at the beginning of the financial year
(Borrowers are not allowed to part prepay loan for first 1 year) |
| Foreclosure Charges | Loan foreclosure is not allowed within the first 12 months of availing loan. After 12 months, foreclosure charges can go up to 6% of the principal outstanding. |
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Other Charges
| Loan Cancellation Charges | Rs 10,000 + interest rate from the date of the loan disbursement till the request date for cancellation |
| Legal Charges | At actuals |
| Asset Verification Charges | At actuals |
| Demand Draft Charges | At actuals |
| Cash Collection Charges | 1% of the receipt or collected amount |
| Instalment Repayment Date Change (with no other changes) | Rs 1,000 |
| PDC/ ECS / NACH Bounce Charges (per presentation) | Rs 750 |
| Penal interest | For property backed loans – 2% p.m. on the instalment overdue |
| For others – 3% p.m. on the instalment overdue | |
| Foreclosure Letter Issuance Charges | Rs 500 |
| Duplicate NOC | Rs 500 |
| Modification of loan terms after first loan disbursement including re-scheduling of loan repayment conditions, addition or deletion of co-borrower(s), etc | Up to 2% of the outstanding principal amount |
| Document Retrieval | Rs 1,000 |
Types of Protium Finance Business Loan
MSME/Business Finance
Business Loan
Purpose: Protium Finance offers unsecured business loan to Micro, Small and Medium Enterprises (MSME) engaged as manufacturers, traders, service providers, and retailers. The NBFC also offers customised loans for hotels, restaurants, travel agents, retailers, and eCommerce businesses.
Prospective borrowers can use the lender’s integrated online application process to finance their equipment purchases, business expansion, renovation, new staff hiring and marketing activities. The types of credit facilities offered through Protium Finance include Line of credit/Overdraft (OD), Term loan, Merchant Cash Advance and Invoice Financing loan solutions.
Loan amount: Up to Rs 30 lakhs
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Loan Against Property
Purpose: Protium offers loan against property facility to MSMEs with minimal documentation.
Loan amount: Up to Rs 5 crore
Educational Institutional Finance
Business Loan for Infrastructure Upgrade in Education Institutes
Purpose: Schools can avail Infrastructure Upgrade scheme for financing repairs, new block set-up, maintenance work, new furniture and digital infrastructure for smart classes. This is a secured business loan.
Loan amount: Up to Rs 5 crore
Tenure: Up to 10 years
Working Capital Finance
Purpose: Schools can avail this loan facility for meeting their working capital requirements. This is an unsecured loan, and therefore, no collateral is required.
Loan amount: Up to Rs 25 lakhs
Tenure: Up to 3 years
New School Acquisition
Purpose: Protium Finance offers New School Acquisition Facility to individuals planning to acquire a new school.
Loan amount: Up to Rs 5 crore
Tenure: Up to 10 years
Equipment & Machinery Finance
Purpose: Individuals can avail this facility for financing their equipment and machinery purchases. First charged on machinery purchased through this loan. The key focus segments of this product include light engineering, food processing, material handling, plastic/injection moulding, packaging, printing, extrusion, wood-work accessories and gensets.
Loan amount: Rs 10 lakh to Rs 3 crore
Tenure: Up to 10 years
LTV: Up to 80% of the cost
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Eligibility Criteria for Availing Protium Business Loan
MSME/Business Finance
Eligibility criteria for a Merchant Cash Advance loan against POS machine
- The promoter should be over 24 years of age
- Business operational history should be minimum 2 years
- Card swipe history of minimum 6 months
- 2 years ITR required for loans above Rs 10 lakhs
- Minimum monthly transaction of Rs 50,000
- Businesses should accept debit and credit card payments
- Bank statement of minimum 9 months
- GST Certificate
- Businesses should have a physical office location
Eligibility criteria to avail the overdraft facility for small business
- The promoter should be over 24 years of age
- Last 1 year GST returns
- 2 years of complete audit report for loan more than Rs 10 lacs.
- Minimum 1 year of business operational history
Eligibility Criteria for a Hotel Loan
- Applicant’s age should be over 23 years.
- Business should have an operational year of minimum 1 year
- Income tax returns of last 1 year.
Eligibility Criteria for a Shop Loan
- The applicant should be an Indian citizen.
- The business must not be located in a remote area.
- The applicant’s age should be between 24 years and 60 years.
- Business should be in operation for minimum 18 months prior to the loan application.
- Business should have valid GST/ Gumasta/ Shop Act/Registration Proof.
- In case of rented property, a notarized/registered rent agreement of minimum 3 months old
- A minimum turnover of Rs 50,000 to Rs 50 lakhs
Educational Institutional Finance
- Operational vintage of 5 years or more
- Affiliated or Recognised by ICSE, IB Diploma, CBSE, State and other relevant boards
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Documents Required for Protium Business Loan
Business Loan Documentation
- Pan Card
- Aadhar Card
- Proof of Business Registration
- Address proof of self and firm
- Last 9 months bank statement
- Latest ITR is required for loan above Rs 15 lakhs
E-Commerce Business Loan Documentation
- KYC documents of your organization & business registration proof.
- GGST certificate mandatory & latest GST filing
- Bank account statements of the past 6 months.
Shop Loan Documentation
- Last 6 months of bank account statement.
- Identity proof like PAN card, driver’s license.
- Business PAN Card
- Business documents such as a sole proprietorship declaration.