FlexiLoans Business Loan

FlexiLoans is a Non-Banking Financial Corporation (NBFC) offering loans to small and medium scale businesses in the country. The main aim of FlexiLoans business loans is to provide funds to small businesses as per their capital requirements. As a business owner, you can get a loan of up to ₹50 Lakhs. The rate of interest charged by FlexiLoans is also very low, starting from just 12% per annum. So, what’re you waiting for? Apply for a FlexiLoans term loan on Bajaj Markets today.

FlexiLoans Latest News Updates

How to Apply for FlexiLoans Business Loan

Thanks to a fully digital application process, getting a FlexiLoans business loan is extremely easy and takes only a few minutes. Follow the step-by-step guide listed below to apply for one today. 

• Filling Details Online: Enter your personal and business details.

• Select your Lending Partner: From the list of loan offers, select FlexiLoans to proceed.

• Specify Personal Loan Details: Select the loan amount and repayment tenure as per your choice.

• Approval & Disbursal: Get online approval in 2 minutes and money in your bank within 48 hours.

FlexiLoans Business Loan Interest Rate & Charges

At different points during the course of running a business, you may require external financing for a number of reasons. Additional funding may be needed to meet your operational costs, to invest in capital assets, or even to expand your business. Whatever the reason may be, a business loan from FlexiLoans can help you meet your funding requirements. Availing a loan from FlexiLoans via Bajaj Markets is a simple and hassle-free process.

But that’s not all. In addition to the easy application process, the FlexiLoans Business Loan interest rates are also very affordable i.e. starting at 12% per annum. This makes it easier for you to repay the amount borrowed over the repayment tenure you choose. Wondering what the FlexiLoans loan interest rates are? You will find all the necessary details on this page, so you can make an informed decision about availing a loan for your business via Bajaj Markets. Let’s begin by taking a closer look at the key features and benefits of availing a business loan from FlexiLoans.

The interest rate and other charges levied on the FlexiLoans are -

**Note - The interest rates and other charges of FlexiLoans may be reframed according to the NBFCs discretion and guidelines issued by RBI.

Factors That Determine Your Business Loan Interest Rate 

The FlexiLoans interest rate that you’re eligible for is determined by plenty of factors. Check out a few of the most important ones down below.

• Credit Score 

As a business owner, your credit score is one of the most important metrics that can determine the interest rate on a loan. The higher your credit score, lower will be the rate of interest offered to you. 

• Monthly Business Revenue

The amount of revenue that your business generates is something that many lenders closely scrutinise. Generally, businesses with higher revenues tend to repay their debt obligations on time. Therefore, if your business generates high levels of revenue, expect to get a very attractive rate of interest on your business loan.

• Business Experience

The number of years you’ve been in the business is another major factor that determines the interest rate applicable to you. The more the experience, the lower the rate of interest is likely to be. 

• Collateral

Although FlexiLoans business loans don't require collateral, pledging an asset can usually lead to lenders offering a lower rate of interest. 

Features and Benefits of FlexiLoans Business Loan

• Flexible Repayment Structure

FlexiLoans Business Loans have a flexible repayment module ranging from 12 – 36 months. The applicant can mention their preferred repayment module in the application form and pay their EMI accordingly.

• Lower Interest Rates

FlexiLoans offer minimal interest rates (starting at 12%) that are economical for the applicant in comparison to their competitors in the market.

• Fast and Quick Procedure

From application to disbursal of funds, FlexiLoans offer a fast and seamless procedure to render a hassle-free experience to their customers.

• Minimal Processing Fees

FlexiLoans charges 1.5%-2.5% of the loan amount as processing charges.

• Easy digital process

With the entire loan process being completely online, the Business Loan is easy to avail.

• Zero Collateral

The FlexiLoans Business Loans do not require any collateral against the loan amount. This feature is helpful for many small business owners.

• Quick Documentation Process

FlexiLoans have very simple eligibility criteria with a basic documentation process, enabling the applicants to enjoy a stress-free experience.

• Quick Fund Disbursal

Once a FlexiLoan application is approved, the applicants receive funds in their bank accounts within 48 hours.

• Maximum Convenience

Thanks to a relaxed eligibility criteria, FlexiLoans business loans are very accessible for a large section of businesses. That’s not all. Applying for one is also convenient and doesn’t require the business owner to run from pillar to post. 

• Ideal for Various Scenarios

One of the major benefits of FlexiLoans business loans is that they can be used to satisfy a wide range of business expenses. Whether it is to stock up on inventory, meet daily expenses, purchase of equipment, meeting loan obligations, or for marketing, business loans from FlexiLoans can come in handy. 

Flexiloans Business Loan Eligibility Criteria

1. Eligibility Criteria

• The applicant should be a native of India.

• Your age must be between 21 and 65 years.

• The annual turnover of your business must be at least Rs. 12 Lakhs.

• Business vintage of at least 1 year is mandatory.

Factors Affecting FlexiLoans Business Loans Eligibility

The eligibility criteria to qualify for a business loan can vary from one lender to another. In the case of FlexiLoans, you can simply look up the eligibility criteria as mentioned above to check whether or not you qualify for business financing. That said, how exactly is your FlexiLoans Business Loan eligibility calculated? Well, as it turns out, different parameters play a key role in this regard. Let’s take a closer look at these factors.

• Age of the applicant - The age of the applicant is one of the main criteria to determine and calculate the FlexiLoans Business Loan eligibility. The person applying for the loan on behalf of the business should meet the age requirements set by the lender.

• Age of the business - The age of the business also plays a key role in determining the FlexiLoans Business Loan eligibility. In the case of the loans offered by FlexiLoans, your business should be at least 1-year-old. 

• Monthly business sales - The business income also plays a major role in establishing your FlexiLoans Business Loan eligibility. A source of income that is reliable and consistent reinstates the fact that your business is capable of repaying the loan borrowed. So, the monthly business sales made by your business is also used to calculate eligibility.

• Business stability - Lenders are more comfortable financing stable and established businesses because this reduces the risk of bankruptcy. So, a more stable business has a better chance of availing loans at more affordable interest rates.

• Creditworthiness of the business - Lastly, credit scores are also used to calculate the eligibility of a business for availing loans from FlexiLoans. Businesses with higher credit scores automatically qualify for higher loan amounts and lower interest rates, while poor credit scores may lead to loan applications being rejected. 

Documents Required for FlexiLoans Business Loan

Before you apply for a business loan from FlexiLoans, you need to ensure that you have all the required paperwork handy. This ensures that your application is processed quickly, without any hassle. Take a look at the different kinds of documents needed to apply for a loan from FlexiLoans on Bajaj Markets.

• PAN card (mandatory requirement)

• Address proof: Rental agreement / Driver's licence / Voter's ID / Ration card / Aadhaar Card / Passport / latest utility bills (less than 3 months old) / registered rent or lease agreement

• Current account bank statement for the last 6 months

• Proof of Business: GST registration certificate / Shops and Establishments Act certificate / PAN card of the business

• Business Financials: Audited financial statements of the last 2 financial years, ITR for the previous 2 financial years, GST Returns of the past 6 months (if the loan amount is greater than ₹20 Lakhs)

FlexiLoans Business Loan EMI Calculator 

A business loan EMI calculator is an online tool that’s designed to allow you to quickly compute your monthly EMI obligations. You can find a business loan EMI calculator on the Bajaj Markets website to help determine your FlexiLoans business loan EMI. 

To use the tool, all that you need to do is enter the principal loan amount, the tenure, and the rate of interest of the loan. Upon entering these values, the calculator should instantly display the amount of monthly EMI that you would have to pay towards the loan. 

Now that you know how to use a FlexiLoans business loan EMI calculator, let’s quickly take a look at how it works. The tool basically uses the below-mentioned mathematical formula to compute the monthly EMI. 

EMI = P*r*(1+r)^n / ((1+r)^n-1)

Here, 

P = the loan amount 

r = the rate of interest (per month)

n = the tenure (in months) 

Assume that you take out a loan of about ₹15 Lakhs at a rate of interest of 15% per annum for a tenure of 5 years. Substituting these values in the above formula, we get - 

EMI = ₹15 Lakhs*0.0125*(1+0.0125)^60/((1+0.0125)^60-1)) = ₹35,685 per month 

Types of Business Loan at Bajaj Markets

• Start-up Business Loan: Designed for aspiring entrepreneurs, start-up business loans can give you the funds necessary to kick start your very own business. To get to know more about the different details such as the features, benefits, and rates of interest on such loans, visit the ‘Startup Loan’ section of the Bajaj Markets website.

• Mudra Loan: Through the Pradhan Mantri Mudra Yojana (PMMY), the government of India offers three kinds of loans - Shishu, Kishore, and Tarun. These loans are designed to meet both the capital expenditures and working capital requirements of MSMEs. You can get Mudra loans starting from as low as ₹50,000 to as high as 10,00,000.

• Business Loan for Women: Women entrepreneurs don’t have to run from pillar to post to make their dreams a reality anymore. With business loans for women, they can not only support their business but also ensure that it grows consistently. 

• Business Term Loan: Many businesses find it tough to procure funding for purchasing large and expensive equipment or raw materials. However, a business term loan can help satisfy this particular requirement. At Bajaj Markets, you can find term loans for businesses from multiple lenders at highly attractive terms and conditions. 

• Working Capital Loan: Working capital loans can help a business stay afloat even during the toughest of times. Such kinds of loans are designed to enable a business to take care of their day to day expenses, no matter what they may be. For instance, a business may choose to avail a working capital loan for paying salaries to its employees, to stock up on inventory, or to help it expand its production. 

• MSME Loan: If you’re a small business, an MSME loan can help you out in more ways than one. Whether it is for upgrading your equipment, purchasing raw materials, or paying your creditors, an MSME loan can help you out immensely. 

Get Business Loan Instantly at Bajaj Markets App 

Personalised choices for Loans, Cards, Insurance, Investments & UPI Payments along with No Cost EMI offers to shop for a wide range of lifestyle products – discover more on the Bajaj Markets App.

Flexiloans Business Loan Customer Care

For any grievances or questions related to FlexiLoans, you can contact the customer care cell of the lender at 022-6821 9546 anytime from 10 AM to 7 PM. Alternatively, if you prefer to pen your queries or grievances, you could also send an email to connect@flexiloans.com for prompt redressal.