Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Bihar, a state in eastern India, has been witnessing a gradual transformation in its economic landscape. With its rich cultural heritage and a growing entrepreneurial spirit, the state has been gradually becoming a hub for small and medium-sized enterprises (SMEs). The growth of businesses in Bihar often hinges on access to financial resources, particularly in the form of business loans. Bihar's business ecosystem is a vibrant amalgamation of traditional industries such as agriculture, handloom, and manufacturing alongside modern sectors like healthcare and education. The state's economy has diversified and experienced significant recent growth, necessitating substantial financial support for thriving businesses.

Access to appropriate financial resources through business loans is critical for the growth of enterprises in Bihar. The state's active business environment, along with government and banking support, presents a promising landscape for entrepreneurs. This page offers key insights to support your business aspirations through loans.

Features And Benefits Of Business Loans In Bihar

No Collateral Required: Our business loans are collateral-free, eliminating the need to use personal or business assets as security and simplifying the financing process for your small business.

Capital Service Assistance: We offer quick and convenient financing for small businesses, allowing you to access up to INR 75 lakhs* with competitive interest rates to keep your capital costs low.

Instant Funding Approval: You can receive funds in as little as 72 hours* with clear eligibility criteria and minimal documentation requirements, ensuring timely financial support.

Flexible Loan Repayment: You can repay your loan over 48 months*, aligning it with your cash flow, and make prepayments without extra charges using our foreclosure options*.

Eligibility Criteria For Instant Business Loan In Bihar

To become eligible for a business loan through SMFG India Credit, adherence to the following criteria is essential:

Business Type: Potential candidates encompass self-employed individuals overseeing their enterprises and individuals serving in capacities such as proprietors, partners, or directors within established companies.

Residential Requirement: Applicants are required to possess Indian residency.

Age Range: Your age bracket should fall within the range of 22 to 65 years.

Financial Viability: Your business should demonstrate a minimum annual turnover of INR 10 lakhs, coupled with an annual post-tax profit of INR 2 lakhs.

Business History: A business record of at least three years is obligatory, along with a consistent track record of income and profits over the past two years.

Documents Required To Apply For A Business Loan In Bihar

When applying for a business loan, the submission of specific documents is crucial for loan approval. The necessary documents include:

Document Type


Recent Photograph

A current photograph of the applicant.

Valid Identity Proof

Acceptable documents for identity verification include your PAN card or Driver's License.

Valid Address Proof

You can provide an electricity bill or passport as proof of your address.

Bank Statements

A complete set of your bank statements is crucial for assessing your financial history.


Providing proof of your Goods and Services Tax (GST) registration or Income Tax Returns (ITR) is vital for financial verification.

Income Verification

The submission of documents substantiating your income and financial stability.

Proof of Business Existence

This category might include your Certificate of Incorporation or any relevant business-related documents.

For a more extensive document listing or tailored guidance, contact our dedicated customer service representatives.

Interest Rates On Business Loans In Bihar

Please refer to the table below to get a detailed breakdown of the business loan interest rates in Bihar:



Interest Rate

The lowest and most competitive interest rates will be calculated based on several factors (location, net income, business stability, collateral, and existing monthly obligations)

Loan Amount

Upto INR 75 lakhs*

Loan Tenure

Upto 48 months*

Lowest EMI Per Month

Starting from INR 1,341 for 48 months

Cheque Dishonoured Charges

INR 300

Proceeding Fees

Upto 6.5% of the Loan Amount

Customer Type

Proprietor / LLP/ Pvt Ltd / Partnership / Public Ltd

Late Payment Charges

2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis.

How To Apply For A Business Loan In Bihar?

Here's a step-by-step breakdown of the application process:

Step 1: Go to SMFG India Credit's website and click the "Apply Now" button.

Step 2: Based on your specific financial requirements, select either a "business loan" or an "SME loan."

Step 3: Complete the necessary details and upload the requested documents.

Step 4: Specify your desired loan amount and choose a suitable repayment period that matches your needs.

Step 5: After submitting your information, you'll quickly receive an immediate decision on your application status and a reference number for future communication upon approval.

Step 6: During validation, SMFG India Credit might ask for information, including document verification and confirmation of your address, for your application.

Step 7: Upon successful verification, you'll receive a personalized offer detailing the approved loan amount and interest rate.

Step 8: Once approved, the loan amount will be directly credited to your bank account.


Business loans stand as integral tools for business owners, offering the necessary financial support crucial for growth and sustainability. In this pursuit, SMFG India Credit emerges as a dependable ally, providing accessible, tailored loan solutions designed to meet diverse business needs. With our swift processes, transparent terms, and customer-centric approach, SMFG India Credit stands poised as a trusted partner for every business owner in Bihar, offering the essential support required to thrive and succeed in the vibrant landscape of entrepreneurial ventures.

*T&C Apply

Apply for Business Loan

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

Contact Us


First Floor, H/O Md Salam, Machlipatti, Amour, PO+PS - Amour,Via Bayasi, Distt- Purnia, Bihar- 854315

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:30 AM to 6:30 PM (except 1st Saturday and Sundays and public holidays).


How is my business loan in Bihar eligibility calculated?

Your location, income stability, bank balance, and credit score play a significant role in determining your eligibility for a business loan. Ensure that you have a credit score of 750 or above with all your outstanding dues cleared, demonstrating responsible credit behaviour.

What are the advantages of applying for an online business loan in Bihar?

With SMFG India Credit, you can gain control of your business loan account effortlessly. Our online service portals and mobile app ensure convenient tracking and management, empowering you to monitor your loan status and make timely decisions anytime, anywhere, across various devices. Simplify your loan management for smoother business operations.

How to get a lower interest rate on my business loan in Bihar?

Demonstrate reliability and expertise to lenders to secure favourable interest rates. Building trust through your competence and consistency increases the likelihood of accessing funds at lower interest rates. Showcasing reliability and expertise is pivotal in establishing lender confidence and securing beneficial borrowing terms for your business.

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