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

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Whether you are planning to expand your business or starting up a new enterprise, SMFG India Credit has a wide array of unsecured business loan solutions of up to ₹75 Lakhs* to support you. Our flexible solutions help you take care not just of your capital requirements but also short-term and working capital needs towards everything from buying or replenishing inventory, to purchasing equipment, to office expansion, to business marketing, and even paying for additional staff. With over a decade of experience serving small business owners, we at SMFG India Credit strive to provide the best business loans in India as per the requirement of every unique customer across various sectors including retail, e-commerce, and travel.

Based on the information you provide on your online small business loan application, we provide you with solutions that best fit your needs.

SMFG India Credit Business Loan - Features & Benefits

Apply online for a business loan today, and begin to manage your account on our simple but highly powerful dashboard. With our seamless online tracking process, you can manage and change your custom preferences in seconds. Other benefits include:

  • Flexible loan facilities: With our flexible loan facility, you repay your loan within up to 48 months* as per your convenience. Thus, you can ensure that your repayment schedule matches your cash flow. There are also options for foreclosure that allow you to prepay the loan amount without any extra charges*.
  • Servicing capital requirements: We offer quick and easy finance for up to ₹75 Lakhs* to small businesses. Our competitive interest rates ensure that your cost of capital remains low.
  • Small business loans within 72 hours*: We understand that opportunities do not knock twice. This is why we have transparent business loan eligibility criteria and minimal documentation requirements that allow you to get the funds when you need them.
  • No collateral: With SMFG India Credit, you can get collateral-free business loans and needn’t pledge your personal or business assets to finance your small business.
  • Tailor-made solutions: Our small business loan products come with pre-approved offers for your capital needs. You can also get a higher loan top-up amount and choose repayment tenure up to 48 months* as per your convenience.
  • Online account access: You can track and manage your business loan account anytime, anywhere and across devices (desktop, mobile, or tablet) using our service portals and mobile applications.

Business Loan Eligibility

Some of the basic eligibility criteria for a business loan from SMFG India Credit are as follows:

  • Eligible Entities- Self-employed with their own business or proprietor / partner / director of an existing business.
  • Nationality- Resident Indian.
  • Age criteria- Age between 25 - 65 years.
  • Turnover- Minimum annual turnover of INR 10 lakhs per annum and profit after taxes of INR 2 lakhs per annum.
  • Business Experience- Must have a business that has been existing for at least 3 years, with stable income and profits for the past 2 years.
  • Credit Score- CIBIL score of 750 or higher.

Document Required for Business Loan

At SMFG India Credit, documentation for business loan applications involves basic KYC documents (PAN, Address proof), Bank Statements and business documents. Here is a list for your quick reference.

  • Recent photograph
  • Valid Identity Proof such as PAN card, Driving License
  • Valid Address Proof such as Electricity bill, Passport
  • Bank statements
  • GST or ITR
  • Income proofs
  • Proof of Business existence (like Certificate of Incorporation, etc.)
  • For a more complete list, please visit the Business Loan Documents page or speak with our customer care representative.

Business Loan Interest Rates and Charges

Business Loan Interest Rate

Minimal and competitive (depending upon several factors such as net income, business stability, location, collateral, existing monthly obligations, etc.)

Loan Amount

Up to INR 75 lakhs*

Loan Tenure

Up to 48 months*

Processing Fee

Up to 6.5% of the loan amount

Late Payment Charges (Applicable for Payment Default)

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

Cheque/ECS/ Dishonoured Charges - Per Dishonour of the Cheque Per Presentation

INR 300

Loan Cancellation Charges (Loan Cancelled Before First EMI)

INR 1000

Customer Type

Proprietor / LLP / Pvt Ltd. / Partnership / Public Ltd.

Business Loan Application Process

Here are the typical steps involved in the business loan application process:

  • Determine the loan amount you require and the specific purpose of the loan. This will help you decide the appropriate type of loan (working capital, term loan, etc.).
  • Research different lenders and decide upon the one that offers loan terms that best suit your business needs.
  • Check the eligibility criteria to make sure you meet all the requirements. Keep all the required documents ready to ensure a faster application process.
  • Submit your application online or offline, along with all the necessary information.
  • Your application will go through various stages of evaluation. Once everything is verified, you will be offered a custom loan amount and rate of interest.
  • Once you verify and accept the loan offer, the approved funds will be disbursed to your account.
  • You will start making payments as per the decided upon schedule.

What is a Business Loan EMI Calculator?

A business loan EMI calculator is a handy tool that can help you foresee your monthly obligations. By providing a realistic overview of your monthly expenses, it enables you to make informed decisions about your business loan amount and tenure. The calculator takes 3 inputs:

  • The total loan amount
  • The loan tenure
  • The interest rate

Trying out different values will give you a picture of different scenarios, ultimately helping you to make the best financial decisions for your business.

How to Apply for a Business Loan?

To apply for business loans online, visit SMFG India Credits Apply Now page to start the application process.

  • Click on Business Loan or SME Loan based on your requirements.
  • Enter the information requested and upload the necessary documents.
  • Enter the loan amount and select tenure.
  • Based on the information you enter, you will be given an instant decision - that is, you will be informed immediately if the organisation will consider your application going forward.
  • If yes, you will be given a reference number. Please save this number for future communication.
  • A SMFG India Credit representative may get in touch with you for any further information that may be required.
  • Your loan application will go through various stages of verification, which also includes verification of all documents as well as physical address verification & document collection.
  • After verification is complete, you will be given a customized offer on the loan amount as well as the rate of interest.
  • Post approval, the loan amount will be disbursed to your bank account.

*Terms and Conditions apply

Page also available inहिन्दी - Hindi

* 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.


What is the maximum loan amount I can apply for?

You can avail a loan amount of up to INR Rs. 75 Lakhs*. The amount would be calculated based on your income and other parameters. Speak to a SMFG India Credit customer service representative today to know more about your business loan eligibility.

At what rate of interest will I get a business loan?

SMFG  India Credit offers competitively priced business loans between 17% – 21%to suit every customer’s needs. The business loan interest rate is decided by several factors including your income source, number of years in business, business stability, and existing monthly obligations. Please click to check the current business loan interest rates offered as well as other details.

What are the eligibility criteria for applying for a small business loan?

To apply for a small business loan from SMFG India Credit, you need to be at least 25 years of age. Your age at the time of the maturity of the loan should be less than 65 years. This criterion is applicable to self-employed individuals. If you are a non-professional individual, a different set of eligibility criteria might apply to you.

Can I get a business loan to start a new business from SMFG India Credit?

At SMFG India Credit, we provide unsecured business loans to eligible borrowers who have an existing business for the past 3 years, and which has been generating stable profits since the past 2 years. Applications from individuals who need seed funding to start a new business from scratch and/or do not meet our business loan eligibility criteria will not be accepted.

Do I need to pledge assets to apply for a small business loan?

Small Business Loans provided by SMFG India Credit are unsecured loans does not require you to pledge any assets. It's important to carefully review the terms of the loan and the requirements of SMFG India Credit before applying for a small business loan.

What is the maximum tenure of a small business loan?

At SMFG India Credit, small business loans offer a maximum repayment tenure of 48 months. Borrowers can avail themselves of this period to gradually repay the loan amount, making it more manageable and accommodating for their business needs.

How to get a loan for a business without collateral?

To get a loan for a business without collateral, applicants need to meet certain eligibility criteria, including being between 22 to 60 years old, having a business that is at least 3 years old, and submitting previous years' income tax returns duly audited by a CA. The application process involves checking eligibility online, using a business loan EMI calculator to calculate EMI, filling the online form, and submitting it. A representative will get in touch after 72 hours*.

Does a business loan affect my credit score?

Yes, a business loan can affect your credit score. Timely repayment of the loan can have a positive impact on your credit score, demonstrating responsible credit behavior. On the other hand, defaults or late payments can negatively affect your credit score, making it harder to secure future loans or credit.

What documents are required while applying for a business loan?

When applying for a business loan, the following documents are typically required:

  1. PAN Card
  2. Business address proof
  3. Business registration proof (GST or other registration certificates)
  4. Account statements of the business for the last 6 months to 1 year
  5. Income tax returns of the business for the last 2-3 years
  6. Financial statements, including balance sheets, profit and loss statements, etc.
  7. KYC documents of the business owners/partners/directors

Are there any charges other than interest rate that I have to pay to avail the loan?

Besides the interest rate, there are other charges associated with availing a business loan, such as:

  1. Processing fees, which can be up to 6.5% of the loan amount.
  2. Cheque/ECS dishonoured charges – INR 300
  3. Swap charges – for replacement of post-dated cheques to ECS – INR 500
  4. Swap charges – for replacement of ECS to ECS – INR 500
  5. Loan cancellation charges – INR 1000

What is the minimum turnover requirement for a Business Loan?

To qualify for a Business Loan, applicants typically need to meet a minimum annual turnover requirement of INR 10 lakhs per annum and demonstrate a profit after taxes of INR 2 lakhs per annum. Meeting these financial criteria showcases the business's stability and capacity to handle the loan obligations.

What is a good credit score to get a business loan?

A good credit score to secure a business loan is generally considered to be a CIBIL score of 750 or higher. A higher credit score reflects a borrower's strong creditworthiness and responsible credit management, increasing the chances of loan approval and potentially securing more favorable terms.

How long does a business loan approval take?

The approval process for a business loan involves various verification stages, including document verification and physical address verification. This comprehensive assessment may take up to 72 hours* to complete, ensuring the lender carefully evaluates the application before making a decision.

Are there any prepayment charges in business loans?

SMFG India Credit charges the following prepayment fees:

  1. 0 to 17 EMI(s) fully paid – 7% of the principal outstanding.
  2. 18 to 23 EMI(s) fully paid – 5% of the principal outstanding.
  3. 24 to 35 EMI(s) fully paid – 3% of the principal outstanding.
  4. 36 or more EMI(s) fully paid – No foreclosure fee.
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1800 103 6001 Timings: 9:00 AM to 7:00 PM (Monday to Saturday excluding public holidays & fourth Saturday of every month).