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

Are you looking to get into the retail segment anytime soon? Perhaps a shop loan can help you kickstart the process. But a business loan for setting shop especially for small business owners is easier said than done.

At SMFG India Credit, we understand the needs and aspirations of each and every individual. It is our consistent, ongoing effort to help business owners with the required finances so that you can fulfill your dreams and not miss out on a single opportunity. Since different businesses have different requirements, we have customized business loans to best suit the needs of each individual.

Eligibility for Shop Loan

To apply for a loan for a shop with SMFG India Credit, you need to meet certain business loan eligibility parameters. A few of these are as follows:

  • You should be a resident of India.
  • You should be at least 22 years of age at the time of loan application and a maximum of 65 years of age at the time of loan maturity.
  • A minimum annual turnover of INR 10 lakhs.
  • You should have a business experience of at least 5 years, 3 of which should have been in the current business.
  • The business enterprise should be profit making since the past 2 consecutive years.

Required Documents for Shop Loan

The approval for your loan for retail shop at SMFG India Credit will be subject to receipt and verification of the following documents:

  • Identity proof which can be established through any one of the government ids like driving license, PAN card, etc.
  • Proof of address such as Aadhar card or passport.
  • Business PAN card / GST certificate etc to show proof of business existence.
  • Bank statements for the last 6 months.
  • Income proof
  • Audited financial statements of the past 2 years.
  • Address proof for the business

Please note that the documents required for the business loan mentioned above is not an exhaustive list. To know more, please contact us today. Knowing the documentation requirements beforehand can help you speed up the process of loan application.

How to Apply for a Shop Loan?

Be it a loan for a medical shop or any other retail enterprise, the application process is more or less the same.

The actual process of loan application is quick, simple and relatively hassle-free. At SMFG India Credit, we have an online platform that allows you to apply for a business loan anytime, anywhere as per your convenience. Alternatively, if you prefer a face to face interaction, you are welcome to visit us at your nearest branch. Our team will be happy to help you with any queries / issues.

Here are three easy steps that will help in getting the application process started.

1. Fill in Your Application: Make sure you fill all your personal, professional and financial details on the application form. This can be done either online or offline.

Generally, after you put in the request for a shop loan, a representative from SMFG India Credit will get in touch with you within a maximum of 2 working days. They will then help you understand the product; any loan offers you may be eligible for, applicable interest rates, repayment details and tenure of the loan.

2. Document Upload: Before you submit your documents by uploading them online or handing over hardcopies at your nearest branch office, you need to run a check with the help of a business loan EMI calculator to get an idea of the installment that you are looking to commit as part of the repayment process to the lender. If you think that the amount is higher than what you can afford to repay, you can adjust the value of the principal amount or increase the tenure accordingly.

Once the document upload is complete, you will be given a preliminary decision on whether or not your application will be taken forward. If yes, we will take some time to verify the documents and the information provided in your application. Our representative will then get in touch with you in case of any query or to give you an offer.

3. Loan Disbursal: If your business loan is approved, the funds are generally disbursed to your account within 72 hours*.

SMFG India Credit is a reputed organization in the domain of extending shop loans that have helped numerous entrepreneurs get their retail enterprise off the ground. So, please click on the “Apply Now” button today, and take one step further in making your dreams come true.

Features & Benefits of Shop Loan

These are some features and benefits of a shop loan: 

  • Flexible Loan Facilities: Repay your loan comfortably within up to 48 months, aligning with your cash flow. Enjoy foreclosure options without extra charges. * 
  • Servicing Capital Requirements: Access quick and easy finance up to INR 75 lakhs* for small businesses with competitive interest rates, ensuring a low cost of capital.
  • Swift Small Business Loans: Benefit from transparent eligibility criteria and minimal documentation, securing small business loans within 72 hours* after loan approval.
  • No Collateral Required: Obtain collateral-free business loans with SMFG India Credit, eliminating the need to pledge personal or business assets.
  • Online Account Access: Track and manage your business loan account effortlessly anytime, anywhere, across various devices using our user-friendly service portals and mobile applications.

*Terms and Conditions apply

Fees and Charges


SMFG India Credit’s Shop Loans

Processing fee

Up to 6.5% of the loan amount

Loan tenure

In between 12 months to 48 months

Pre-closure charges

Range from 0% to 7%

Eligibility criteria

Turnover should be at least INR 10 lakhs* with 2 years of profit-making business. Minimum eligibility criteria can be checked here.

Unsecured Business Loan amounts

Range from INR 50,000 to INR 75 Lakhs*

Why Should You Take a Shop loan?

Sometimes, taking a shop loan is your best bet because of the following reasons: 

  • You can expand your small retail business confidently.
  • With loan money, you can keep your shelves well-stocked to boost sales.
  • Another way to use the money is to invest it in effective marketing strategies to attract more customers.
  • Stay competitive in the market by adopting modern technology and acquiring essential equipment.
  • You can navigate seasonal variations smoothly with financial support.
  • It can cover essential overheads like rent and staff salaries for seamless daily operations.

A shop loan can help you achieve all of these goals and foster success in the dynamic retail industry.

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.


Is collateral required to avail a shop loan?

At SMFG India Credit, we provide collateral free business loans of up to Rs. 75 Lakhs*. If you require a loan larger than this, then you will be required to pledge property as an asset.

Is it possible to foreclose the loan?

Yes, you can foreclose your business loan. However, depending on when in the tenure you chose to do so, foreclosure charges between 0 - 7% will be applicable. Please check our business loan interest rates page to know more.

What is the maximum repayment tenure on a shop loan?

You can choose maximum repayment tenure of 60 months or 5 years on your unsecured shop loan if the loan amount is less than Rs. 75 Lakhs*. For loans which are higher than Rs. 75 Lakhs* and are secured against property, you can choose repayment tenure of 15 years.

Will the credit rating have any impact on business loan approval?

Good credit scores will help you obtain a lower interest rate and will ensure quick loan approval. If your credit score is less than 700, you may have to submit additional documentation, offer a co-guarantor or collateral and/or avail the loan at a higher interest rate.

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Get in Touch

Have a query? You can contact us through any of the channels listed below.

Toll Free Number
1800 103 6001 Timings: 9:00 AM to 7:00 PM (Monday to Saturday excluding public holidays & fourth Saturday of every month).