Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.
A working capital loan is a type of funding that takes care of a company’s expenses for everyday operations. The company may use the loan amount to provide for short-term operational requirements rather than long-term investments or assets. Usually, individuals and enterprises apply for a working capital loan India to cover costs such as payment for staff, upgrade technology, leverage opportunities, procure raw material, pay an advance to suppliers, debt payment, purchase inventory, maintain cash flow, pay utility bills, rental payment, etc.
At SMFG India Credit, you can apply for business capital loans online. Through a committed team, we do our best to ensure a pleasant experience throughout your borrowing journey.
A working capital loan is typically a short-term loan taken out to meet a business’s operating expenses like employee salaries, office rent, or inventory. It is designed to act as a buffer during periods of slow business activity, enabling business owners to focus on their long-term goals.
Working capital loans are especially beneficial for businesses that deal with seasonal fluctuations or cyclical sales. They may be secured or unsecured, depending upon the loan amount and the overall financial health of your business.
Listed below are the key benefits and features of taking a working capital loan in India:
Here are SMFG India Credit’s working capital loan eligibility norms for enterprises and individuals:
We also offer collateral-free loans up to INR 75 Lakhs*. To know the details, please click here. For amounts greater than INR 75 Lakhs*, we offer business loans secured against property. Please visit our Loan against Property for SME page for more details.
Please contact us to know more.
Below-given is a list of required documents for the SMFG India Credit unsecured business loan application:
There are several ways working capital loans can be used to fund a business’s short-term expenses:
SMFG India Credit offers customised working capital loan interest rates to suit every profile and business need. Here are the typical fees or charges you can expect:
Working Capital 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 60 months* |
Processing Fee |
Up to 5% of the total loan amount + GST |
Late Payment Charges (Applicable for Payment Default) |
Up to 3% per month (36% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment. |
Cheque/ECS/ Dishonoured Charges - Per Dishonour of the Cheque Per Presentation |
Rs. 300 to 1000 |
Loan Cancellation Charges (Loan Cancelled Before First EMI) |
Rs. 1000 - 2500 |
Organization Type |
Proprietorship, Partnership, Private Limited, Closely held or unlisted companies, LLPs, Educational Institutes and Hospitals run by Trusts / Societies. |
With the rustic flair of desi music and subtly infused humour, this video tells a story of a small retailer who was able to grow his small business with a loan. Watch now and enjoy!
* 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.
You can apply for working capital loans on the official website of SMFG India Credit. Alternately, you can drop by at our nearest branch office to understand the loan schemes and apply for a suitable financial product.
The benefits of applying for a working capital loan India are:
An individual applicant must be a minimum of 22 years at the time of loan application and less than 65 years at the time of the maturity of a working capital loan.
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