CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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AYE Finance offers affordable business loans to eligible business owners and MSME entrepreneurs to take care of various business needs such as working capital needs, raw material purchase, transportation & logistics, equipment & machine procurement, business premises purchase or renovation, investment in research & development, and more.
AYE’s lending principle is based on innovative underwriting, smart technology and deep analytics. They strive to leverage digital tools and technology to drive a quick and seamless loan application process for their customers.
Established in the year 2014, AYE Finance has disbursed Rs.5500 crores worth of business credit to more than 4.2 lakh customers, across 20 States across India.
About AYE Finance Business Loans
AYE Finance Business Loans are built and customized to suit your business needs. The loan amount and other terms are determined based on your business model and profit making ability so that you are able to repay the loan comfortably.
- You are assured of a completely digital loan application process
- Smooth and transparent loan process without any hidden charges or complex terms
- Collateral-free loans for various business needs
- Custom-built business loans to suit your business requirements
- Door-step service, document collection and other loan management services from the convenience of your home
- Wide network of branches across the country, along with a well-trained customer support team to offer assistance around the clock
- Cluster-based lending model to accurately determine loan requirement and other benefits
1. Hypothecation Loan
Since assets are hypothecated, no other collateral or mortgage is required.
- 3 years of business stability
- 3 years of business location stability
- Bounce Charges – Rs 500 (inclusive of taxes)
- Late Payment Charges – Rs 200 per month (inclusive of taxes)
- Foreclosure Charges – As applicable
2. Quasi – Mortgage Loan
Maximum loan amount is Rs.5 lakhs
3. Mortgage Loans
Maximum loan amount is Rs.10 lakhs
4. ECLGS Loan
ECLGS is a collateral-free loan facility with a 100% guarantee from the Government of India to assist micro, small, and medium-sized enterprises (MSME) in recovering from the COVID-19 slowdown. The credit facility provides eligible businesses with an additional term loan facility of up to 30% of their total outstanding, as of February 2020/March 2021, across all existing lenders.
Total loan outstanding across all lenders as of February 2020 should be less than ₹50 crores
All MLIs must be no more than 60 days past due as of February 2020/March 2021.
Borrowers must not be delinquent on the date of sanction/disbursement.
For loans that are approved with a 5 year total tenure, there is a 2 year moratorium on the principal.
There is a 2 year principal moratorium for loans that are approved with a 5 year total tenure.
Prepayment Charges – NIL
2. An authorized representative will visit your business premises to help you start the loan application process
3. All documents and photographs will be captured by the representative on their digital device and sent for processing
4. Loan processing happens using an in-house algorithm built on credible data science models and your credit report information.
5. Upon successful verification, the loan is approved and the amount disbursed into your bank account.
6. The entire loan process can take around 10-12 business days
- KYC documents like identify proof & address proof
- Business documents like bills/cash registers etc.
- Bank account details
1. What is AYE Finance Business Loan?
Small businesses can obtain AYE Finance business loans, which can be secured or unsecured. These loans can be used for a variety of working capital needs, such as upgrading or purchasing machinery, purchasing raw materials, or other similar short-term operational requirements. The loan can be repaid in fixed monthly installments in equal amounts.
2. How much business loan can I get from AYE Finance?
Based on your eligibility, you can get business loans of up to ₹25 lakhs.
3. Who is eligible to get AYE Finance Business Loans?
Any individual between the ages of 21 and 59 is eligible for a loan. The individual should have owned and operated a business in the same area for at least three years.
4. How long does it take for the loan process?
Following the successful submission of your loan application, an AYE Finance representative will visit your place of business to determine loan eligibility. AYE Finance considers your application based on this information as well as their own model. This procedure takes 10 to 12 days.
5. How do I pay the monthly EMIs?
The monthly EMI will be auto-debited from your bank account through a NACH mandate.