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Capital First Business Loan - Apply Online @16%

4.8 stars based on 125 reviews

Business Loan Details

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Company Details

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Year of Incorporation/VAT/Service Tax Registration *

Turnover

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FY 2017 - FY 2018 *

Net Profit After Tax

FY 2016 - FY 2017 *

FY 2017 - FY 2018 *

Depreciation

FY 2016 - FY 2017 *

FY 2017 - FY 2018 *

Director/Partner Salary

(Not Applicable for Proprietorship Firm)

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FY 2017 - FY 2018 *

Personal Details

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Rate of Interest is high ?

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Capital First Business Loan Details

Capital First Business Loan

Anytime there is a need for additional funding to take your business to the next step make use of the Capital First Business Loan option that is available to each and everyone. Getting all details about a business loan and finding the best bank is now very simple and easy through Finance Buddha. Apart from offering the best and informative services to its customers, Finance Buddha will help you with tips and suggestions of how to get a business loan. Here you can find all necessary information related to business loan, it’s a one stop solution for all business loan necessities before applying for the loan.

Capital First Business Loan Details

Institution Type: NBFC

Minimum Loan Amount: ₹ 1,000,000

Maximum Loan Amount: ₹ 7,500,000

Minimum Tenure: 12 months

Maximum Tenure: 60 months

APR: 16.00% - 24.00%

Fees & Charges: Up to 2% + GST as applicable

Features & Benefits of Capital First Business Loan

Here are some of the interesting features and benefits of Capital First. These are the reasons why business loan from this bank is of high demand.

  • Quick Loan Disbursal.
  • Low interest rates.
  • Online loan request option available.
  • Low pre-payment charges also waiver is offered after few months.
  • Can instantly check loan eligibility.
  • Avail attractive interest rates.
  • Collateral-free Loans - No Guarantor / Security required.
  • Repay with easy EMIs.
  • Speedy Loan processing and approval.
  • Disbursal in 2 Days.
  • Loan upto ₹ 7,500,000.
  • Door-to-door service.
  • Top-up loan option is offered.
  • Less documentation.

Why should you choose Capital First Business Loan?

Capital First is one of the best banks that offer flexibility to its customers. The features and benefits mentioned above will give more clarity as to why this is the most preferred bank. This is one of those banks that offer highest loan amount of ₹ 7,500,000, of course there are lots of terms and conditions that need to be met, but being so flexible in offering loan amount is the highlight. It is a known fact that business needs will be always huge amount, getting decent loan amount from bank will help meet various necessities.

Apart from this the other highlighting feature is the excellent customer service. Irrespective of what benefits are offered by the bank, if the customer service is not upto the mark, it is very difficult to gain customer satisfaction and retention. These are main reason Capital First is a preferred source for business loans.

How to apply online for Capital First Business Loan?

Directly applying for a business loan with a bank is not an easy task. There are lots of formalities and getting to know their eligibility criteria and document requirements is another challenge. Other than this it will be very difficult to check and compare between different banks or NBFC, its features, offers and other requirements. This is when Finance Buddha comes into play, it offers a platform where you can search and apply for loan with banks and can also compare and choose the best one from the list of alternatives available.

Eligibility Criteria for Capital First Business Loan

Eligibility to apply for Capital First Business loan depends on below factors:

  • You should be between the ages of 23 to 65 years.
  • Business making profit for the last 1 year.
  • Current business experience requirement is of 48 months.
  • Total business experience should be 60 months.
  • The loan amount can be from the lowest ₹ 1,000,000 and can vary up to ₹ 7,500,000.

Capital First Business Loan Interest Rates, Fees & Charges

The below table can give an overview of the rates and charges by Capital First, this will help you to check if your business needs can be met through a business loan from this NBFC:

Feature

Interest Rates, Fees & Charges

Interest Rate

16.00% - 24.00%

Tenure

From 12 months to 60 months

Loan Amount

Min. ₹ 1,000,000 and Max. ₹ 7,500,000

Part Prepayment and Charges

Not allowed

Early Foreclosure and Charges

Allowed after 24 EMI's, 5% charges up to 6 months and at 4% after that

This table gives a detailed picture of what would be charges implied on a business loan for self-employed versus salaried individual:

Feature

Salaried Employees

Self Employed

Interest Rate

16.00% - 24.00%

16.00% - 24.00%

Loan Tenure

From 24 months to 36 months

From 24 months to 36 months

Loan Amount

Min. ₹ 1,000,000 and Max. ₹ 5,000,000

Min. ₹ 1,000,000 and Max. ₹ 7,500,000

Processing Fee

Up to 2% + GST as applicable

Up to 2% + GST as applicable

Prepayment Charges

Not allowed

Not allowed

Foreclosure Charges

Allowed after 24 EMI's, 5% charges up to 6 months and at 4% after that

Allowed after 24 EMI's, 5% charges up to 6 months and at 4% after that

Documents Required for Capital First Business Loan

Some of the common documentation for business loan from Capital First is listed below.

Copy of PAN Card of Entity, Directors/ Partners/Proprietors,  Security providers and guarantors

Document Name

Details

Application Form

All fields in the form need to be duly filled in and the acknowledgement need to be collected

 

Self-attested copy of KYC Documents

 

Customer Identity proof – Partnership deed/Shops and Establishment certificate/Certificate of Incorporation

 

Address Proof of  Entity, Directors/ Partners/Proprietors,  Security providers and guarantors

Financials

Last 3 years Audited/Provisional Financials (Audited financials to include Balance Sheet, Profit and Loss Account along with schedules and Notes to Accounts, Tax audit reports, Statutory Audit report). In case of Provisional financials, VAT returns are also required.

 

Current year performance and projected turnover on letterhead of the entity

 

Last 1 year Income Tax returns of the borrowing entity (along with Computation of Income and copy of acknowledgement), if filed online, acknowledgement number is required

 

Bank Statements (not more than 45 days old)

 

Latest Bank Statements for last 6 months (in case of First Time Borrower) and 12 months (in case of Takeover proposals). In case of multiple Banking, statements covering minimum 75% of Banking turnover are to be provided.

Some other document requirements are:

  • Occupancy Certificate
  • Approved Plan of building
  • Share certificate copy
  • Chain of deeds in case of resale property
  • Property Card
  • Nil Encumbrance Certificate- EC ( if applicable)
  • Current Sale agreement/ Draft Agreement

Apart from what is mentioned above, there is additional documentation requirement according to whether you are self-employed, salaried or other categories:

For Self-Employed Individuals or Proprietors:

  1. Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificates
  2. Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA
  3. Latest 12 months bank statement- Savings Account and Current Account
  4. Existing Loans’ Sanction letters accompanied with repayment track
  5. Business profile on the letterhead of the company

For Salaried Employees:

  1. Last 2 years Form 16 or Income Tax Returns
  2. Last 3 months’ salary slips
  3. Last 6 months bank statement reflecting salary credits

For Partnership Firms:

  1. Age proof of all the partners in the form of PAN Card, Passport or Aadhar Card
  2. PAN Card of the company
  3. Residence proof of all the partners –Utility Bills/ Passport/Bank statement/ Registered rent agreement
  4. Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate
  5. Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.
  6. Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account
  7. Partnership deed
  8. Existing Loans’ Sanction letters accompanied with repayment track
  9. Business profile on the letterhead of the company.

For Private Limited Companies:

  1. Application form duly filled with photographs of directors.
  2. Age Proof of Directors- PAN Card, Aadhar Card, passport
  3. Residence Proof of Directors- Utility Bills/ Passport/Bank statement/ Registered rent agreement
  4. PAN Card of Company
  5. Education Qualification- A professional qualification certificate in case of Doctors/CA/Architects
  6. Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate
  7. MOA, AOA, List Of Directors, Share Holding Pattern of the Company
  8. Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.
  9. Latest 12 months bank statement of Company of all current accounts and the same for Director’s Savings Bank Account
  10. Existing Loans’ sanction letter with repayment track of company and Individual Directors
  11. Business Profile on the Letter Head of the Company
Frequently Asked Questions

What are the factors considered by Capital First to calculate the interest rate?

Factors mainly considered are the age, income, credit scoring, outstanding liabilities, residence location, company an individual is working for and so on.

What is collateral and why is it needed for a business loan?

It is the security that is pledged with a bank to avail loan, the more the collateral value is, the benefits are more. This gives a security for the banks to offer bigger amount of loans as the risk is low. Not every bank needs collateral for approving loan.

How important in credit worthiness in loan approval?

It is advisable to not apply for too many loans, limit yourself according to the necessity. Credit score will go down as and when you apply for more and more loan.

Capital First Business Loan ReviewsView All

Tejshwani Parmar

4 / 5

Best business loan rates and charges! I went with Capital First for my business loan. And it didn’t disappointed me at all. I got my business loan approved at a rate of 17%p.a. and there were no other hidden charges. The processing didn’t took much time. On the 12th day I was having the loan amount in my personal account.
Priyanka Singh

5 / 5

Getting a loan through Finance Buddha is such an easy process. I have never thought that getting a loan will be this much easy. I simply went to the Finance Buddha portal applied for my business loan with Capital First after checking and comparing others banks too. My loan application was approved only in 8 working days. I am very thankful to Capital First and Finance Buddha.
Mounika Reddy

5 / 5

Smooth and hassle free service! Capital First provided me a smooth and Hassle less service regarding my Business Loan. It took them only 9 working days in my loan disbursal. Really a good service and the best example of customer first!
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