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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.
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% - 24.00%
Fees & Charges: Up to 2% + GST as applicable
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.
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.
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 to apply for Capital First Business loan depends on below factors:
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% - 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 |
10.49% - 24.00% |
10.49% - 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 |
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. |
Apart from what is mentioned above, there is additional documentation requirement according to whether you are self-employed, salaried or other categories:
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