Business Loan
In today’s world, whether you are an entrepreneur about to kickstart your business or you already have a business in place and aspire to take it to the next level, then working capital is of utmost importance. We at IIFL Finance are here to help you start, grow, or expand your business with a wide range of our business loans.
Our MSME Loan have been specially designed to cater to the growing small and medium enterprises. The loans are an extremely streamlined process to ensure quick approvals and disbursals. Plus, they come with competitive interest rates and flexible repayment options so that you can focus on growing your business without worrying about any financial burden whatsoever.
Apply for an business loan from IIFL Finance today and watch your business soar to new heights of success!
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IIFL Finance Business Loan Features
IIFL Business Loan Benefits
IIFL Finance offers hassle-free, business loans with no collateral requirement. The simple online application process and minimal paperwork ensure swift loan approval, often within 24 hours. Here’s a list of benefits that you can take advantage of when you apply for an online business loan from IIFL Finance:
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Quick disbursal: Receive your loan disbursal quickly to seize opportunities and keep your business running smoothly.
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Enhanced Cash Flow Management: Optimize your cash flow by using a loan to bridge financial gaps and avoid cash crunches.
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Building brand and reputation: Invest in marketing and advertising to increase brand visibility and attract more customers.
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Convenient and easy: Enjoy a hassle-free application process with minimal paperwork and potentially no collateral required.
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Competitive interest rates: Benefit from attractive interest rates to reduce borrowing costs and maximize your ROI.
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Build a Strong Credit Profile:Timely loan repayments can improve your business's creditworthiness, making it easier to secure future financing and attract potential investors.
Business Loan Interest Rates and Charges
IIFL Finance offers competitive business loan interest rates , ensuring your monthly payments are manageable. There are no unpleasant surprises or hidden fees with our transparent approach. You'll be able to make wise financial decisions because you'll know exactly how much you're paying upfront.
| BUSINESS LOAN UPTO | ₹ 75 lakh* |
|---|---|
| Rate of Interest | Upto 28% p.a* *effective from July 01,2025 |
| LOAN PROCESSING CHARGES | Upto 5% + GST* *effective from Sep 01,2024 |
| NACH / E-MANDATE BOUNCE CHARGES (IN RUPEES) | Upto Rs. 2500/ + GST (if applicable) |
Business Loan Eligibility Criteria
When you apply for a business loan from IIFL Finance, there are certain business loan eligibility criteria that you must fulfill. They generally include details about the nature of your business, years of operations, and the credit score of the borrower, be it an enterprise or an individual. The requirements include:
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Business should be operational for at least 1 year.
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Self-employed people, professionals such as doctors and CAs, and proprietorship concerns can also apply.
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Charitable organisations, NGOs, and trusts are not eligible for a business loan.
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The applicant should have a credit score, or CIBIL with a healthy credit score of 700 and above.
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The business should not fall under any list of blacklisted businesses.
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The pincode should fall under a serviceable location.
IIFL Business Loan
Business Loan Documents
These are the business loan documents that you will be required to submit for an business loan while applying online
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- KYC documents – Identity proof and address proof of the borrower and all co-borrowers
- PAN Card of borrower and all co-borrowers
- Last 6 months bank statement of main operative business account
- Additional document(s) may be required for credit assessment and processing of loan request
- GST Registration and Returns.
- Proof of business registration
- Deed copy and company PAN Card copy in the case of partnerships
Business Loan Application Process
The business loan application process typically involves submitting the application, providing financial and business information, and performing a credit check. Keep your documents handy, such as tax returns, financial statements, and a business plan. You may also need to furnish additional information before approval. Once the loan is approved, you need to sign a loan agreement.
6 Million + Happy Customers
I am thankful to IIFL for fulfilling my finance requirement at the right moment. IIFL provided me with every detail of the loan through timely SMSes.
Savaliya Jitendrabhai Vinubhai
We are enjoy a delightful relationship with IIFL. We have found it extremely smooth and easy to get any information regarding our loans from them. Their processes are well-defined and loans are disbursed within agreed timelines. There is complete co-operation from the entire team and we look forward to borrow more from IIFL in the future.
Rajesh Maheshwari
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Business Loan FAQs
A business loan caters to the capital requirements for various purposes such as infrastructure, operations, manufacturing, expansion, advertising, marketing etc.
You can speed up your loan approval by applying for the loan online and completing eKYC.
You can use the business loan EMI calculator on the IIFL website to calculate the EMI for
your loan.
The MSME loan interest rate differs from lender to lender. While banks charge lower rates compared to NBFCs, the application is processed faster by NBFCs. The current rate of interest is up to 28% per annum.
An MSME business loan is offered to Micro, small and medium enterprises.
Yes, it benefits the business as you can use the funds to invest in the business and ensure smooth operations.
If your business fulfils the eligibility criteria mentioned above and fits within the company’s credit policy , you can get a business loan for your SME from IIFL Finance.
Yes, part payment is allowed. However, as it varies from lender to lender, you should ensure the lender has this facility.
Proprietorship, Partnership and Pvt. Ltd/ LLP /One Person Company can avail of a business loan.
With IIFL Finance, you can take a loan of up to Rs 75 lakhs
IIFL Finance seeks a CIBIL score, more than 700 to grant a business loan to borrowers.
No, IIFL Finance doesn’t allow any change in the due date of the EMI once the loan agreement has been signed.
Yes, you can. A business loan can be used for a variety of purposes including for paying vendors, buying inventory and managing working capital.
Not necessarily! Business loans often fall under the unsecured loan category, meaning you don't need to pledge any assets like property or equipment as collateral. However, this depends on various factors like the loan amount, your business's financial health, and your creditworthiness. Some lenders might require a personal guarantee, especially for larger loans or if you're a new business. It's always best to check with the specific lender you're interested in to understand their requirements.
Documents for 10 lakhs:
- KYC documents – Identity proof and address proof of the borrower and all co-borrowers
- PAN Card of borrower and all co-borrowers
- Last 6 months bank statement of main operative business account (12 months preferable to avail maximum loan amount)
- Signed copy of standard terms (term loan facility)
- Additional document(s) may be required for credit assessment and processing of loan request
Documents for 50 lakhs:
- KYC documents – Identity proof and address proof of the borrower and all co-borrowers
- PAN Card of borrower and all co-borrowers
- Last 12 months bank statement of main operative business account
- Signed copy of standard terms (term loan facility)
- Additional document(s) may be required for credit assessment and processing of loan request
- GST Registration.
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