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Working capital needs of any small business can be easily taken care of with short term business loans from Capital Float. Capital Float provides business loans to small and medium enterprises at interest rates ranging from 18% to maximum of 24% per annum. The maximum loan amount offered by Capital Float term finance loan is Rs. 50,00,000 for a period ranging from 1 year to 3 years and can be repaid through flexible repayment options. The processing fee of Capital Float is also minimal at 2% of the loan amount. Check your eligibility and apply now.
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Capital Float is an NBFC (Non-Banking Financial Corporation) founded in the year 2013. The company is in the business of lending short term loans to small businesses i.e. micro, small and medium enterprises (MSMEs).
The MSME Sector has been since long recognized as a major contributing factor to the country’s economy and GDP. This is especially true in developing countries like India where the SME sector is also often referred to as the backbone of the economy. More than 70% of the employment in India is generated by the SME sector and hence is also equally important in the manufacturing and service sectors. However, small businesses often face huge difficulties in securing finances for their business needs from banks on account of need for collateral, higher interest rates, extensive documentation etc.
Capital Float provides easy and affordable business loans to such small and medium enterprises. Also such loans are instantly disbursed and thus help businesses in getting immediate financial assistance without any hassles. In this guide, you can find all that you need to know about business loans from Capital Float.
The eligibility requirements of the business loans of Capital Float are similar to those of any other NBFC. The basic eligibility criteria are mentioned below.
The documents required to be provided for application of a business loan of Capital Float are the basic KYC documents in addition to the documents related to the income proof, ownership proof, etc. The details of the same are provided hereunder.
Capital Float Business Loans provide many benefits to the applicants. These benefits are highlighted below.
Quantum of Loan
The loans available under the business loans of Capital Float can be from a minimum amount of Rs. 5,00,000 up to Rs. 50,00,000. The amount of loan to be sanctioned will depend on credit score and repayment capacity of the applicant or the organization as the case may be.
Capital Float provides flexible repayment options for the loan taken. The tenure of the loan is from a minimum period of 1 year to a maximum of 3 years.
The rate of interest on Capital Float Business Loans varies from a minimum of 18% up to 24%. The final rate of interest will depend on the applicant’s profile, the amount of loan and the tenure of the loan.
The loans of Capital Float can be instantly disbursed once the application is received from the applicant or the entity and the verification of the documents is completed to the satisfaction of the lender. Capital Float disburses the loan amount within a maximum of 3 days from the approval of the loan to the customer’s account. Thus, the customer’s are assured of immediate financial assistance in case of emergencies.
Lower Credit Score
Capital Float provides the business loans at lower credit scores too as against the norms of most banks where loans can be sanctioned only if the credit score of the applicant is good or above the minimum threshold set by them in this regard. Customers can get business loans from Capital Float if their credit score is a minimum of 650.
Capital Float loan application and disbursal process is entirely digital. This enables the process to be expedited and ensures it to be a hassle free process for the end consumer.
Capital Float does not require the customers to provide any collateral for the loans applied. This ensures a broader customer base and enables more small businesses to get the benefit of financial assistance through Capital Float.
Processing and Prepayment Charges
Capital Float charges a very nominal processing charge on the loans sanctioned. The professing charge is to the extent of 2% of the loan amount. The prepayment charges of Capital Float are also very minimal that ensure that the customer is not burdened with any cumbersome process or unnecessary charges.
The application process of Capital Float Business Loans is entirely an online process as mentioned above. The application process is discussed below.
1. What are the processing charges of Capital Float?
Capital Float charges a processing fee up to 2% of the loan amount as processing charges.
2. What is the interest rate charged by Capital Float?
The interest rate of Capital Float on business loans is from 18% to 24% per annum.
3. What is the maximum loan amount that can be availed under the business loans of Capital Float?
A person can avail loans up to Rs. 50,00,000 under the business loans of Capital Float.
4. What is the duration of loan disbursal of the business loan of Capital Float?
A person can get the business loan of Capital Float within 3 days of application if the loan is sanctioned.
5. Does the applicant need to provide the GST returns of the business as part of th3e documentation for the term finance loan of Capital Float?
Yes. GST returns for the past 6 months are a mandatory requirement for the term fiancé loans of Capital Float.
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