How does a business loan from IIFL work?
At IIFL, we offer quick & easy business loans of up to Rs.30 lakhs with minimum documentation and competitive interest rates. All you need to do is check your eligibility criteria and submit all the required documents to avail a loan in an easy and hassle-free manner.
What is a business loan?
A business loan is a short-term funding solution that helps entrepreneurs and small businesses grow. It can be used for working capital, inventory purchases, equipment leasing, or any other commercial purpose.
Who can apply for a business loan from IIFL?
Any individual looking to expand or start their own business can apply for a business loan from IIFL. The borrower should be between 23 and 55 years of age, have an operational business for at least two years, and should hold a Current/Savings Account with IIFL.
What is the maximum repayment tenure offered with the IIFL Business Loan?
The maximum repayment tenure offered with an IIFL Business Loan is 60 months (minimum 12 months). This means that you can choose a repayment plan that best suits your business needs and repayment capacity.
Are there any additional documents required for the IIFL Business Loan?
Yes, depending on your loan amount requirement, some additional documents may be required for credit assessment. These are usually documents related to your business, such as GST registration, Bank Statements, etc. However, all these details will be shared with you once you apply for the loan.