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Business Loan for Women

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Status: Active

Classification: Private Sector Scheme

Release Date(s):
4th November 2023

Offering: Loan/Credit

Entity Type: NBFC

Reading Time: 4 Mins

Ticket Size: Upto ₹50 Lakhs

Entity Name: Poonawalla Fincorp Limited

#Views: 64

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this email.

 

About this scheme…

Business Loan for Women was launched by Poonawalla Fincorp Limited with the aim of giving women entrepreneurs the required financing edge to overcome funding obstacles and help them reach new milestones.

 

How is it being implemented?

Under Business Loan for Women. direct financial assistance in the form of loans is given to women entrepreneurs running:

  • Small-sized Business
  • Medium-sized Business

 

What’s on offer?

I. Product

  • Term loan
  • Ticket size: ₹1 Lakh to ₹50 Lakhs

 

II. Purpose:

  • Acquisition of fixed assets
  • Working capital requirements

 

III. Borrower Type:

  • Sole Proprietorship Firm, Partnership Firm, Limited Liability Partnership, One Person Company, Private Limited Company, Public Limited Company

 

IV. Security or Collateral or Guarantee or Insurance

  • Primary Security: Nil
  • Collateral: Nil
  • Guarantee: Nil
  • Insurance: For more information on requirement of insurance, please contact Poonawalla Fincorp via means mentioned below

 

V. Interest Rate

  • 15% to 28% per annum

 

VI. Processing Fee

  • Up to 3% plus applicable taxes

 

VII. Margin Money Requirement

  • For more information on margin money requirement, please contact Poonawalla Fincorp via means mentioned below

 

VIII. Tenure, Repayments & Pre-Closures

  • Tenure: flexible from 6 months to 36 months
  • Repayments: monthly (EMIs)
  • Prepayment/Foreclosure Charges: 0% if paid from own sources
  • For more information, please contact Poonawalla Fincorp via means mentioned below

 

IX. Turnaround Time

  • Instant business loan approval & sanction (within 5 minutes) followed by quick loan disbursal provided one fulfils the eligibility criteria along with production of required documents

 

Interested? Read ahead to check your eligibility….

I. Are you likely to fall in the age group of 24-65 years at loan maturity?

 

II. Is your credit score at least 700? Check your CIBIL Score here

 

III. Is your business vintage (year of operations) at least 2 years?

 

IV. Is the annual turnover of your business at least ₹6 Lakhs?

 

If your answers to the questions above are an emphatic YES, you are all set to avail Poonawalla Fincorp’s Business Loan for Women!

 

Note: Please note that the above-mentioned eligibility list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.

 

So…how big is this scheme and what has been done so far?

I. Latest details on the Scheme don’t seem to be available in the public domain

 

So, now, how should you go about it?

I. Submit your application online along with required documents here or via WhatsApp here

 

II. For information on indicative list of documentation required, please scroll down here

 

III. For any queries, please contact Poonawalla Fincorp via:

 

Go on then…and do spread the word!

 

Sources:

  1. About the Scheme
  2. Poonawalla Fincorp’s Latest Investor Presentation
  3. Poonawalla Fincorp’s Annual Report 2022-23
  4. Poonawalla Fincorp’s Latest Credit Rating Report
  5. Latest News on Poonawalla Fincorp: Poonawalla Fincorp Q2 business update: Highest-ever disbursements recorded

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