BUSINESS LOAN

Are there any foreclosure charges for a business loan with IIFL Finance?

Prepayment / Foreclosure (01- 06 Months of EMI Repayment) : 7% + GST*

Prepayment / Foreclosure (07- 24 Months of EMI Repayment) : 5% + GST*

Prepayment / Foreclosure (More Than 24 Months of EMI Repayment) : 4% + GST*

Which entities can apply for Business Loans

We just take proprietorship.

Are there any foreclosure charges for a business loan with IIFL Finance?

Yes, the fees for prepayment and foreclosure (for the first six months of EMI repayment) are 7% plus GST.

Can startups apply for a business loan?

Yes, by completing the online loan application and attaching the necessary KYC documents, startups can apply.

What is the limit of a business loan?

With IIFL Finance, you can take a loan of up to Rs 30 lakh.

Which entities can apply for a business loan?

A business loan may be availed by a proprietorship, partnership, Pvt. Ltd/LLP/one-person company, etc.

Is partial payment allowed in a business loan?

Yes, you may make a partial payment. You should check to see if the lender has this service though, as it differs from lender to lender.

How can SMEs get a business loan from IIFL Finance?

You can apply for a business loan from IIFL Finance for your SME if your company meets the prerequisites outlined above.

Is a business loan helpful for the business?

Yes, it's advantageous to the company because you can use the money to make investments in it and make sure it runs smoothly.

What is an MSME business loan?

Micro, small, and medium-sized businesses are eligible for an MSME business loan.

What is the minimum required turnover to be eligible for a business loan from IIFL Finance?

Your company must have generated Rs. 90,000 in revenue over the three months prior to the application date.

How to calculate EMI for my business loan?

To figure out your loan's EMI, utilize the business loan EMI calculator on the IIFL website.

What can I do to speed up my approval process?

By submitting your loan application online and finishing eKYC, you can hasten the loan approval process.

Who should use a business loan?

A business loan can be used to fund the costs of infrastructure, operations, production, expansion, advertising, and marketing, among other things.