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Features of IIFL Finance Business Loans

  • Loan Amount Flexibility:
    IIFL Finance provides business loans ranging from ₹1 Lakh to ₹75 Lakh (depending on eligibility and loan type).
    For secured business loans (offered through IIFL Home Loans), the loan amount can go up to ₹10 Crore, catering to significant business expansion or capital-intensive projects.
    The loan amount is determined based on factors such as business turnover, creditworthiness, and financial history.
  • Unsecured and Secured Loan Options:
    Unsecured Business Loans: No collateral is required, making it ideal for businesses without significant assets. These loans are suitable for MSMEs and startups with strong financials.
    Secured Business Loans: Require collateral (e.g., property, equipment, or inventory), offering higher loan amounts, lower interest rates (starting at 10.75% p.a.), and longer repayment tenures (up to 12 years).
    The choice between secured and unsecured loans allows businesses to align financing with their asset base and repayment capacity.
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    • Competitive Interest Rates: Interest rates for unsecured business loans range from 12.75% to 44% p.a., depending on the applicant's credit profile, loan amount, and tenure. Secured business loans offer more economical rates, starting at 10.75% p.a., making them cost-effective for long-term financing. Rates are floating/variable, allowing potential adjustments based on market conditions or borrower creditworthiness. Transparent pricing with no hidden fees ensures borrowers understand the total cost upfront.
    • Flexible Repayment Tenure: Unsecured loans come with tenures ranging from 12 to 60 months (1 to 5 years), allowing businesses to choose a repayment schedule that aligns with their cash flow. Secured loans offer extended tenures of up to 12 years, reducing monthly EMI burdens and providing greater repayment flexibility. Borrowers can use IIFL's EMI Calculator to estimate monthly repayments and plan finances effectively.
    • Quick and Hassle-Free Disbursal: Loan approval is often granted within minutes for online applications, with funds disbursed to the borrower's bank account within 24–48 hours post-approval. The 100% digital application process eliminates the need for physical paperwork, enabling businesses to access funds swiftly to seize market opportunities.
    • Minimal Documentation: IIFL Finance requires minimal paperwork, streamlining the application process. Standard documents include:
      KYC documents (Aadhaar, PAN, address proof).
      6–12 months' bank statements of the business account.
      Proof of business registration and vintage (minimum 2 years).
      GST registration (for loans above ₹30 Lakh).
      Signed copy of standard loan terms.
      For secured loans, additional documents like property papers may be required.
      The simplified documentation process ensures faster processing and reduces administrative burdens.
    • No Collateral for Unsecured Loans: Unsecured business loans do not require pledging assets, making them accessible to businesses without significant collateral. This feature is particularly beneficial for startups, sole proprietorships, and MSMEs. The absence of collateral requirements reduces risk for borrowers while still providing access to substantial funding.
    • Customized Loan Solutions: IIFL Finance offers tailored loan products to meet diverse business needs, such as:
      Working Capital Loans: To manage short-term operational expenses like rent, salaries, or inventory purchases.
      Business Expansion: To fund new branches, product lines, or market entry.
      Equipment Purchase: To invest in machinery or technology upgrades.
      Cash Flow Management: To bridge financial gaps and maintain liquidity.
      Loans are customized based on the business's industry, size, and financial goals.
    • 100% Digital Process: The entire loan application process—from submission to disbursal—is conducted online via the IIFL Loans App or website, ensuring convenience and accessibility. Borrowers can apply from anywhere, upload documents digitally, and track application status in real-time. The digital-first approach eliminates the need for branch visits, saving time for busy entrepreneurs.
    • Transparent Terms and Conditions: IIFL Finance emphasizes transparency with no hidden charges. Borrowers receive clear details on interest rates, processing fees (2–5% of the loan amount + GST), and other charges upfront. A convenience fee of ₹500 may apply for certain services. Transparent communication ensures informed financial decision-making.
    • Prepayment and Part-Payment Options: Borrowers can make part-payments or prepay their loans, subject to lender policies. This feature allows businesses to reduce interest costs if surplus funds are available. Specific prepayment terms may vary, so borrowers should confirm with IIFL Finance before opting for this facility.
    • Support for Credit Building: Timely repayment of IIFL business loans can improve the borrower's credit score, enhancing future financing opportunities and attracting investors. A strong repayment history demonstrates financial discipline, benefiting businesses in the long term.
    • Loan Balance Transfer and Top-Up Facility: For secured loans, IIFL offers a loan balance transfer option, allowing businesses to shift existing loans to IIFL for lower interest rates or better terms. A top-up facility provides additional funding on existing loans, enabling businesses to meet evolving financial needs without applying for a new loan.
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Benefits of IIFL Finance Business Loans

  • Quick Access to Funds: IIFL Finance offers rapid loan approval (often within minutes) and disbursal within 24–48 hours, enabling businesses to seize time-sensitive opportunities, address emergencies, or manage cash flow gaps without delay.
    The 100% digital application process eliminates the need for branch visits, making funding accessible from anywhere, anytime.
  • No Collateral Requirement for Unsecured Loans: Unsecured loans do not require pledging assets like property or inventory, making them ideal for startups, sole proprietorships, and MSMEs without significant collateral.
    This reduces risk for borrowers while providing access to substantial funding (up to ₹75 Lakh), supporting businesses with limited asset bases.
    • Flexible Loan Amounts: Loan amounts range from ₹1 Lakh to ₹75 Lakh for Unsecured loans and up to ₹10 Crore for secured loans, catering to diverse needs—from small working capital requirements to large-scale business.
    • Supports Business Growth and Expansion: Funds can be used for business expansion (e.g., opening new branches, entering new markets, or launching product lines), helping businesses scale and increase revenue.
    • Working Capital Management: IIFL Business Loans provide liquidity to cover day-to-day expenses like rent, salaries, inventory, or utility bills, ensuring smooth operations during lean periods or seasonal slumps.
    • Competitive and Transparent Interest Rates: Secured loans start at 10.75% p.a., offering cost-effective financing for long-term needs. Unsecured loans range from 12.75% to 44% p.a., with rates tailored to the borrower's credit profile.
    • Minimal Documentation: The streamlined documentation process requires only essential documents (e.g., KYC, bank statements, proof of business vintage), reducing administrative hassle.
    • Boosts Credit Score: Timely repayment of IIFL Business Loans improves the borrower's CIBIL score, enhancing creditworthiness for future financing. A strong credit profile attracts better loan terms, and business partnerships.
    • Tailored Solutions for Diverse Needs: IIFL offers customized loans for various purposes, including:
    • Working Capital Loans: To manage operational expenses.
    • Business Expansion Loans: To fund growth initiatives.
    • Equipment Financing: To invest in machinery or technology.
    • Marketing and Branding: To enhance visibility through advertising. This versatility ensures businesses can address specific financial challenges or opportunities.
    • Empowers MSMEs and Startups: IIFL Finance specializes in MSME loans, providing critical support to micro, small, and medium enterprises, which are vital to India's economy.
    • Loan Balance Transfer and Top-Up Facility: For secured loans, the loan balance transfer option allows businesses to shift existing high-interest loans to IIFL for lower rates, reducing overall borrowing costs.
    • Digital Convenience: The IIFL Loans App and website enable a paperless, end-to-end digital process for application, document submission, and loan tracking.
    • Multiple Repayment Methods: Repayments can be made via credit/debit cards, UPI, e-Wallets, net banking, or platforms like Bajaj Pay, offering flexibility.
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How to Apply for an IIFL Finance Business Loan

  • 1. Online Application
    • Step 1: Visit the IIFL Finance Platform
      Go to the official IIFL Finance website (www.iifl.com) or download the IIFL Loans App from the Google Play Store or Apple App Store.
    • Step 2: Navigate to the Business Loan Section
      On the website or app, locate the "Business Loan" or "Loans" section and click "Apply Now" to start the application process.
    • Step 3: Fill Out the Application Form
      Provide basic details including:
      • Personal Information: Full name, mobile number, email address
      • Business Details: Business name, type (proprietorship, partnership, etc.), and vintage (minimum 2 years)
      • Loan Requirements: Desired loan amount (₹1 Lakh to ₹75 Lakh) and preferred tenure (12–60 months)
      • Other Details: PAN number, address, and purpose of the loan
    • Step 4: Upload Required Documents
      Upload digital copies of:
      • KYC Documents: Aadhaar card, PAN card, address proof
      • Business Proof: GST certificate, Shop Act License
      • Financial Documents: 6–12 months' bank statements
    • Step 5: Submit the Application
      Review the entered details and submit the application. You'll receive a confirmation with an application reference number.
    • Step 6: Verification and Disbursal
      IIFL Finance verifies your details and documents. Upon approval (often within minutes), the loan is disbursed to your bank account within 24–48 hours.
  • 2. Offline Application
    • Step 1: Visit an IIFL Finance Branch
      Locate the nearest IIFL Finance branch (4,800+ across India) and schedule an appointment with a loan officer.
    • Step 2: Discuss Loan Requirements
      Explain your business needs. The officer will recommend suitable products and explain eligibility criteria.
    • Step 3: Complete the Application Form
      Fill out the physical application form with business, financial, and loan requirement details.
    • Step 4: Submit Documents
      Submit hard copies of required documents. For secured loans, include collateral documents.
    • Step 5: Verification and Approval
      The bank verifies your details and conducts credit checks. Approval typically takes 1–2 working days.
    • Step 6: Loan Disbursement
      Upon approval, sign the loan agreement and receive disbursement within 24–48 hours.
  • 3. Through Phone Banking
    • Call IIFL Finance customer care to inquire about business loan offers
    • Follow instructions to confirm eligibility and complete the process digitally

Eligibility Criteria for IIFL Finance Business Loans

  • Nationality:
    • The applicant must be an Indian citizen residing in India.
    • Non-Resident Indians (NRIs) or foreign nationals are typically not eligible.
  • Age:
    • The applicant's age should be between 23 and 65 years at the time of loan application.
    • For business entities, the primary applicant must fall within this age range.
  • Business Type:
    • Eligible entities include: Sole Proprietorships, Partnerships, Private Limited Companies, Limited Liability Partnerships (LLPs), One-Person Companies (OPCs).
    • The business should be legally registered and operational in India.
  • Business Vintage:
    • The business must have a minimum operational history of 2 years to qualify for most loans.
    • For smaller loan amounts (up to ₹5 Lakh), a reduced vintage requirement of 1 year may apply.
  • Credit Score:
    • A CIBIL score of 700 or higher is preferred for better approval chances.
    • In some cases, a minimum score of 675 may be accepted.
  • Business Turnover:
    • The business should have a minimum turnover of ₹90,000 in the last 3 months.
    • Higher turnover may be required for larger loan amounts (e.g., above ₹30 Lakh).
  • Income (for Salaried Applicants):
    • Salaried individuals applying for a business loan must have a minimum monthly income of ₹25,000.
  • Business Stability and Status:
    • The business should not be blacklisted by credit bureaus or financial institutions.
  • GST Registration (for Larger Loans):
    • For loan amounts above ₹30 Lakh, GST registration is mandatory.
  • Collateral (for Secured Loans):
    • For secured business loans, applicants must provide collateral, such as property or equipment.
  • Bank Statement History:
    • Applicants must provide 6–12 months of bank statements to demonstrate financial stability and cash flow.
  • ITR Filing:
    • Applicants should have filed Income Tax Returns for at least the past 1–2 years, especially for loans above ₹5 Lakh.
  • Digital Presence (if applicable):
    • E-commerce sellers and digitally active businesses should provide online sales data (e.g., Amazon, Flipkart) to strengthen their application.
  • Professional Qualification (for service professionals):
    • Applicants such as doctors, CAs, or architects may need to provide qualification certificates to support their professional credentials.
  • No Default History:
    • The applicant should not have any history of loan default or significant delays in repayment.
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Documents Required for IIFL Finance Business Loans

  • KYC Documents:
    - Aadhaar Card: For identity and address proof (must be linked to a registered mobile number).
    - PAN Card: For identity and tax purposes.
    - Address Proof: Utility bill (not older than 3 months), rental agreement, passport, voter ID, or driving license.
  • Business Proof:
    - GST Registration Certificate: Mandatory for loans above ₹30 Lakh.
    - Shop Act License: Proof of business registration.
    - Udyam Registration Certificate: For MSMEs.
    - Partnership Deed: For partnership firms.
    - Certificate of Incorporation: For private limited companies/OPCs.
  • Financial Documents:
    - Bank Statements: Last 6–12 months of the business's primary bank account.
    - Income Tax Returns (ITR): Last 2 years for business/applicant.
    - GST Returns: For loans above ₹30 Lakh (e.g., GSTR-3B, GSTR-1).
    - Profit and Loss Statement: Optional but recommended for larger loans.
  • Proof of Business Vintage:
    - Documents showing minimum 2 years of operation (1 year for loans up to ₹5 Lakh):
    • GST Registration Certificate.
    • Shop Act License.
    • Udyam Registration Certificate.
    • ITR filings or bank statements.
  • For Secured Loans:
    - Property Documents:
    • Title deed or sale deed.
    • Property tax receipts.
    • Approved building plan.
    • No Objection Certificate (NOC).
    • Encumbrance certificate.
    • Valuation report (by IIFL's empaneled valuer).
  • Additional Documents (if applicable):
    - Business Plan: For startups or large loans.
    - Audited Financial Statements: For companies or loans above ₹50 Lakh.
    - Proof of Income: Salary slips/Form 16 for salaried applicants.
    - Photograph: Recent passport-sized photo.
    - Co-Applicant KYC: For co-applicants/guarantors.

Factors for IIFL Finance Business Loans

  • Credit Score (CIBIL Score):
    - A CIBIL score of 700 or higher is preferred for better approval chances and lower interest rates.
    - A minimum score of 675 may be accepted in some cases.
    - Impact: High score increases approval likelihood and may lead to better terms.
  • Business Vintage:
    - Minimum of 2 years of business operations is required for most loans.
    - For smaller loans (up to ₹5 Lakh), 1 year may suffice.
    - Impact: Longer vintage strengthens eligibility for larger loans.
  • Business Turnover:
    - Minimum turnover of ₹90,000 in the last 3 months is typically required.
    - Higher turnover is needed for larger loan amounts.
    - Impact: Higher turnover supports applications for larger loans.
  • Repayment Capacity:
    - The business should have sufficient cash flow to cover EMIs.
    - For salaried applicants, minimum monthly income of ₹25,000 is required.
    - Impact: Strong repayment capacity increases approval chances.
  • Business Type and Industry:
    - Eligible businesses include sole proprietorships, partnerships, private limited companies, etc.
    - The business should operate in a viable, non-blacklisted industry.
    - Impact: Stable industries are viewed favorably.
  • Collateral (for Secured Loans):
    - Secured loans require assets like property or equipment.
    - The collateral's value determines the loan amount (up to ₹10 Crore).
    - Impact: High-value collateral supports larger loans and lower rates.
  • Documentation Quality:
    - Complete and accurate documents speed up approval.
    - Required documents include KYC, business proof, financials, etc.
    - Impact: Complete documents ensure quick processing.
  • Debt-to-Income Ratio (DTI):
    - A low DTI (typically below 40–50%) is preferred.
  • Business Location:
    - The business must operate in a non-restricted, commercially viable location.
    - Certain pin codes or regions may be excluded based on risk assessments.
  • Existing Liabilities:
    - Lenders assess current EMIs and outstanding debts to evaluate repayment ability.
    - Excessive liabilities may reduce loan eligibility or sanctioned amount.

Frequently Asked Questions (FAQs) for IIFL Finance Business Loans

What is an IIFL Finance Business Loan?
An IIFL Finance Business Loan is a financial product offered by IIFL Finance, a leading NBFC, to support businesses with funding for working capital, expansion, equipment purchase, inventory management, or debt consolidation. It includes unsecured loans (up to ₹75 Lakh, no collateral) and secured loans (up to ₹10 Crore, collateral-backed).
Who is eligible for an IIFL Finance Business Loan?
Eligible applicants include:
- Indian citizens aged 23–65 years.
- Businesses with a minimum 2-year vintage (1 year for loans up to ₹5 Lakh).
- Business types: Sole proprietorships, partnerships, private limited companies, LLPs, or one-person companies.
- CIBIL score: Preferably 700+ (minimum 675 in some cases).
- Turnover: Minimum ₹90,000 in the last 3 months (for certain loans).
- Income: Salaried applicants need a minimum monthly income of ₹25,000.
- The business must not be blacklisted or located in a negative area (per IIFL’s policies).
What types of business loans does IIFL Finance offer?
IIFL Finance offers:
- Unsecured Business Loans: No collateral required, up to ₹75 Lakh, with tenures of 12–60 months and interest rates from 12.75%–44% p.a.
- Secured Business Loans: Collateral-backed (e.g., property), up to ₹10 Crore, with tenures up to 12 years and rates starting at 10.75% p.a.
Loans can be used for working capital, expansion, equipment purchase, or other business needs.
What is the loan amount I can get?
- Unsecured Loans: ₹1 Lakh to ₹75 Lakh, depending on eligibility, turnover, and credit profile.
- Secured Loans: Up to ₹10 Crore, based on the value of collateral (e.g., property) and financials.
Use IIFL’s EMI Calculator to estimate the loan amount you qualify for.
What are the interest rates for IIFL Finance Business Loans?
- Unsecured Loans: 12.75%–44% p.a., depending on credit score, loan amount, and tenure.
- Secured Loans: Starting at 10.75% p.a., based on collateral value and applicant profile.
Rates are floating/variable and may adjust based on market conditions. No hidden fees are charged, ensuring transparency.
What is the repayment tenure for these loans?
- Unsecured Loans: 12 to 60 months (1–5 years).
- Secured Loans: Up to 12 years.
Flexible EMI schedules can be customized to align with your business’s cash flow.
What documents are required to apply for an IIFL Finance Business Loan?
Required documents include:
- KYC: Aadhaar, PAN, address proof (e.g., utility bill, passport).
- Business Proof: GST certificate, Shop Act License, Udyam Registration, or incorporation documents.
- Financials: 6–12 months’ bank statements, 2 years’ ITR, GST returns (for loans >₹30 Lakh).
- Vintage Proof: Documents showing 2 years of operation (1 year for loans up to ₹5 Lakh).
- Secured Loans: Property documents (title deed, valuation report) or other collateral papers.
- Signed Loan Terms: IIFL’s standard agreement.
Documents can be uploaded digitally via the IIFL Loans App or website.
How do I apply for an IIFL Finance Business Loan?
Follow these steps:
- Visit www.iifl.com or download the IIFL Loans App.
- Go to the “Business Loan” section and click “Apply Now”.
- Fill out the application form with personal, business, and financial details.
- Upload required documents.
- Submit the application.
- Await verification and approval (within minutes for eligible applicants).
- Accept the loan offer and sign the agreement.
- Receive funds in your bank account within 24–48 hours.
How long does it take to get the loan approved and disbursed?
- Approval: Often within minutes for online applications, subject to document verification and credit assessment.
- Disbursal: Funds are credited to your bank account within 24–48 hours after loan agreement signing.
Can I apply for a loan without collateral?
Yes, IIFL Finance offers unsecured business loans that require no collateral, with loan amounts up to ₹75 Lakh. These are ideal for businesses without significant assets but require a strong credit score (700+) and stable financials.

List of IIFL Finance Bank Business Loans

  • IIFL Finance Unsecured Business Loans
  • IIFL Finance Secured Business Loans