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Capital First Business Loan

Anytime there is a need for additional funding to take your business to the next step make use of the business loan option that is avail to each and every. 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.

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
  • Hassle-free Loans - No Guarantor / Security or Collateral required
  • Repay with easy EMIs
  • Speedy Loan processing and approval
  • Disbursal in 2 Days
  • Loan upto INR 7.5 million
  • 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 75 lakhs, 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 for 48 months.
  • Total business experience should be 60 months.
  • The loan amount can be from the lowest INR 100 ,000 and can vary up to INR 500,000.

Documents Required for Capital First Business Loan

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

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

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

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

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%

Lowest EMI

₹ 3,516 per ₹ 100,000

Tenure

From 24 months to 36 months

Loan Amount

Min. ₹ 100,000 and Max. ₹ 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%

Lowest EMI

₹ 3,516 per INR 100,000

₹3,516 per INR 100,000

Loan Tenure

From 24 months to 36 months

From 24 months to 36 months

Loan Amount

Min. ₹ 100,000 and Max. ₹ 400,000

Min. ₹ 100,000 and Max. ₹ 500,000

Processing Fee

1.99%

1.99%

Age

Min 23 years and Max 60 years

Min 23 years and Max 65 years

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

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.

What should be my CIBIL score for applying for a business loan with Capital First?

The credit score should be minimum 750+ to be eligible for a business loan at Capital First.

What the best possible rate of interest I can expect from Capital First?

Anything between from min 16 (percentage) to 22 (percentage) is considered as a good deal.

What is the tenure for business loan from Capital First?

Tenure - minimum of 24 months to maximum of 36 months. While most of the banks have the minimum limit as 12 months, Capital First has minimum limit as 24 months

Is it alright to make huge purchases for business needs while availing for a business loan?

Huge purchases and outstanding debts will impact the loan approval, thus avoid the same. The rate of interest will be high for low credit rating.

What should be the minimum operation period for the loan?

Irrespective of what type of business it is, the minimum operation period is of two years or more. The longer a business has been in existence the more is the probability of getting a loan.

What is the formula for EMI calculation?

Loan amount x Interest/12) x [(1+ interest rate/12)^loan tenure in number of months] / ([(1+ interest rate/12) ^ loan tenure in number of months]-1

What are the features and benefits the Finance Buddha EMI calculator can offer?

It offers convenience, accuracy, and speedy calculation, specific details of each type of loan and Amortization tables etc.

Reviews   4.87 stars, based on 108 reviews

I am extremely happy with the business loan from Capital First. I applied for the business loan from Finance Buddha portal. Their executive helped me with the documentation for the loan. The service charges are also very moderate & the customer friendly approach is amazing.

 5/5

As a businessman I am very busy that is the reason why it is impossible for me to go to bank & apply for business loan. When I was looking for the business loan a friend of mine suggested Finance Buddha portal. I applied for the Capital First business loan thought Finance Buddha & it really saved my time. The best part is I did not have to visit the bank even once. The executive came & collected all the documents & my loan was disbursed in a week.

 5/5

I wanted to apply for business loan as I wanted to expand my business. Finance Buddha suggested me to take business loan from Capital First. I did exactly what they said even for preparing the documents. Thank you Finance Buddha for helping me out.

 5/5

I searched about Business loan at Finance Buddha but I was looking for a cheaper loan where interest rate is not high. I chose Capital First as their rate of interest was less compare to other financial institutes. They offered me the rate of interest of 16% for my business loan which is really reasonable.

 5/5

I chose Capital First over many other options for business loan as I had amazing experience with Capital First for consumer durable loan. My loan process was so rapid. Finance Buddha helped me in preparing documents of the loan. My loan was disbursed in a week time.

 5/5

I wanted to get a business loan to buy machinery for the advancement in my business. A business college suggested me Capital First for business loan. My loan was approved in a week.

 5/5

Capital First is really good when it comes to business loan. It was very easy to get a business loan from them. Even I had not faced any challenges on the documentation part. They had sent an executive to my premises and collected the documents. My only area of concern with them, would be they have to reduce the rate of interest.

 5/5

It was a real good experience with Capital First and the disbursement took place really quickly and as required by me. The rate of interest was bit high, it was around 16% and so was the processing charges. Else my process and documents were not too much to handle for the business loan.

 5/5

I was communicated immediately when I applied for a business loan from Capital First. The bank informed me the details about the loan and its process. I decided to go ahead with the Capital First business loan as the documents required for the loan application were really low compare to other financial institutes.

 5/5

I am satisfied with the services of Capital First. Only complain that I have is they process my loan bit slowly may be as they were some holidays coming in between. But is ma glad that there was no delay in disbursement of loan once the loan was approved.

 5/5

I am really very happy either the rate of interest & processing charges offered to me when it comes to business loan from Capital First. I applied for the loan online with the help of Finance Buddha. Their executives are really very good. They mailed me the list of documents required for the loan application.

 5/5

Capital First business loan process is absolutely great, when it comes to the processing of the personal loan, the amount what they had offered is 6 lakhs when compared with other banks, it is very good. No drawback or any challenges till date. I had got the exact EMI amount. Interest rate offered by them is incredible and it is the best in the market too.

 5/5

My business loan experience with Capital First is good and it took only 4 to 5 days for the loan to get disbursed. The amount for which I applied was high & I was not expecting them to approve it all but to my surprise they did give me full amount loan. The processing charges & rate of interest were really reasonable.

 5/5

I have taken a business loan from Capital First and the process in getting the loan was simple. The documentation required for the loan application was really nominal and the process was a hassle free. The interest rate and processing charges was also reasonable and I got the loan amount I needed.

 5/5

I had taken my business loan from Capital First. Rate of interest was very nominal when compared with other banks & financial institutions, processing fee is also moderate. They had disbursed my loan within a week. Customer service was also good; I had taken this loan without any hassle.

 5/5

The loan processing is really very fast & convenient when it comes to business loan from Capital First. The documentation required is also not very fancy. The Finance Buddha helped me with the documents preparation for the loan. I am really glad to choose Capital First over many other options.

 5/5

I have taken my business loan from Capital First and the loan process was simple. Their executive came over and collected my documents. The requirement for documentation was minimal. The loan amount offered was as per my requirements and the loan was disbursed on time. The rate of interest and charges was also to very satisfaction. The best part is online application which saves your time & efforts.

 5/5

I have taken a business loan earlier from Capital First and the experience has been excellent. The after loan services has also been smooth and the process in getting my funds was also hassle free. It was also a good deal on the interest and charges.

 5/5

I am really happy with my experience with Finance Buddha portal as their team guided me when I wanted to apply for business loan. I applied for Capital First business loan online & my experience is awesome.

 5/5

Thank you Finance Buddha for helping me out with the documentation part. I applied for Capital first business loan with the help of Finance Buddha executives & thanks to them my process went really well.

 5/5

My experience with Capital First was nice the only missing thing was communication from their side. Every time I would call for asking update they would respond so well but I was expecting them to call me from their side as it is their responsibility. The rate of interest offered to me was really competitive & my loan was credited in my account in 6 days.

 4/5

It was a Normal experience with Capital First for my business loan. Documentation process was very simple; the executive came and collected the documents. Rate of interest was nominal, they has deducted around 25000 Rs for processing fees. They have taken 15 days for loan disbursement.

 4/5

Other than higher Rate of interest Capital First is really good. Rate of interest was around 16% and the loan amount got disbursed to my account within seven to ten days of time. Customer service is flawless I did not have to make any calls for the updates as their executives used to call me for every process stage.

 4/5

I am not at all satisfied with my business loan from Capital First. My loan application was procrastinated all the time. Their executives failed to give me timely updates on the loan process. Finally after a week they approved my loan & the rate of interest that they offered was really low compare to many other financial institutes.

 3/5

I am not very satisfied with the services of Capital First services. I had to call their executives all the time to take updates for my application process. Their staff is really incompetent. My application took 17 days which is really bad.

 3/5

I am really glad that I have selected Capital First for my business loan over many other available options. I have applied for the loan 5 months back & my process for the business loan was really fast & hassle free. I have received the loan amount in a week which is really good. The processing charges were also very low.

 5/5

Capital First has really customer oriented policy but the problem is with the execution. The staff of Capital First is not at all supportive. When my loan application was going on all the time I had call them for taking updates. Their executive told me that he will collect the documents in 2 days & collected the documents after 5 days which is really annoying. They should improve their customer response other than that my experience was good.

 3/5

I am an existing customer of Capital first as I am having one business loan as well as two consumer durable loans ongoing. I am really delighted by their quick customer response & their transparent policy. My business loan experience with Capital First is really nice. I have taken the loan through Finance Buddha. The service charges as well as interest rate are really very moderate.

 5/5

I am having an ongoing business loan from Capital First. My experience with them is not as good as I have expected. The rate of interest is very high compare to many other financial institutes. They offered me the rate of interest of 19% which is too much. Other than that the processing for the loan was very easy & hassle free.

 5/5

I wanted a long tenure business loan as I wanted to reinvest in another business. I approached Capital first & made my requirement clear. I must say their staff is really very supportive. Their executives guided me about every step of the process. I am really happy with their services & quick turnaround time.

 5/5