Business loan

indifi small business commercial loan

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Indifi Small Business Loan – We bring you all the information about Indifi Small Business Business Loan in partnership with Facebook India. Recently, Facebook India partnered with indifi to provide commercial loans from Rs.5 Lakh to Rs.50 Lakh to small businesses subject to certain conditions.

Business loans have been more or less a necessity for all sizes of businesses, whether MSMEs or large groups. While it is relatively easy for large companies or groups to obtain commercial loans from banks and other financial institutions, it is very difficult for small and medium players. For start-ups and small businesses, business loans are usually required to maintain cash flow, bring in equipment to meet consumer demands, invest in inventory, and various other functions. The Indian government also has various programs for MSME sectors, for example:

  • MSME Government Business Loan Program for Business Loans in 59 Minutes
  • MUDRA business loans
  • Micro and Small Business Credit Guarantee Fund System
  • Credit Link Capital Grant Program
  • Start-Up India and many others to rely on …

indifi small business commercial loan

In today’s circumstances, marketing is the key to attracting customers and persuading them to buy the goods and services on offer. To help small businesses overcome this burden, an announcement was made at a virtual event hosted by Facebook India with FICCI on “Enabling MSMEs Growth Through Financial Inclusion”. A “Small Business Lending Initiative” was announced by Facebook in partnership with Indifi, an online lending platform offering loans to small businesses. The goal of the initiative is to help businesses that advertise on Facebook get quick access to credit through independent lending partners.

India is the first country where Facebook has implemented such a program, as many small businesses face difficulties in obtaining loans of smaller sizes. The objective of the program is to make business loans easily accessible, which will reduce the credit gap in the MSME sector in India. It has some great features to help businesses get through these tough times.

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Indifi Loan – Indifi Business Loan Details

  • Businesses can benefit from loans ranging from 5 lakh INR to 50 lakh INR.
  • Unsecured loans and fast process.
  • No processing fees are charged.
  • No collateral is required for the loan.
  • Repayment period between 18 and 36 months
  • Interest rate of around 17-20% pa (according to the indifi website)
  • Companies wholly or partly owned by women to obtain a special reduction of 0.2% per annum on the interest rate applied.

indifi small business commercial loan

How to Apply for Indifi Loan – Facebook Loan in India?

  • Apply online on the official indifi website to benefit from the credit.
  • You will need to fill in personal and business information, so keep all the relevant details handy, including the Pan card, GST number, etc. Consult the list of documents below.

Indifi loan process – Facebook loan in India

  • After submitting the online request, confirmation can be received within one business day of the request. You can also easily understand the status of your request by calling a dedicated customer support line.
  • Once the loan application is online and all documents have been submitted, processing will take two (2) business days to approve or reject the application.
  • The loan amount, if deemed eligible, will be paid within 5 days, provided that the borrower fulfills all administrative and documentation formalities after acceptance of an offer by Indifi and all other general conditions. ‘Indifi.

indifi small business commercial loan

To apply for this loan, your business must meet the following criteria:

Indifi Business Loan – Facebook Business Loan Terms and Conditions in India

  • The company must be located in an eligible Indian city (82 cities at present)
  • The business must be registered with a valid business license.
  • The company should have been an advertiser in the Facebook family of apps for at least 180 days at the time of application.
  • The age of the company is one of the key criteria in deciding eligibility. Indifi will also assess current revenue and repayment history, among other factors, before making a decision.
  • You can apply for a loan for only one business.

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Documents required for Indifi loan

  • KYC of the company and all of the promoters of the company.
  • KYC of the promoter (s) – 1. PAN card, 2. One of the four national identity cards (Aadhaar, DL, passport, voter card), 3. Proof of current residential address (if it is not is not updated on the national identity card)
  • Company KYC – 1. Proof of registration; And for non-individual companies, 2. PAN card & 3. Constituent documents
  • Proof of Ownership -Applicable if current residence / business premises are owned.
  • Bank statements of all company accounts for the last six (6) months.
  • If you are looking for a loan over Rs. 10 Lakh, last year’s full RTI (with calculation) of the business would be required.

indifi small business commercial loan

What happens if your Indifi loan application – Facebook India business loan is rejected?

You can apply again after three (3) months of rejection of the application. Meanwhile, work on the feedback provided by Indifi.

Can the company whose loan has been approved apply for an additional loan?

If your application has been approved by Indifi and the loan has been disbursed to you, then you can apply for a complementary loan after six (6) months from the date of disbursement of the loan.

All loans are subject to the qualifications and approval of Indifi and its lenders and Facebook is not responsible for the loan application process and is not responsible for it. As a result, the social media platform will now be available at arm’s length from the actual loan process, making it viable for lenders who do not have financial reporting history to back up their business loan application. We repeat and remind that the loan should be applied directly on the website of indifi.

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Disclaimer: The above information is based on what is available on the indifi website and other media platforms and has not been verified directly with indifi or Facebook.

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