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Faircent Business Loan
Faircent has launched its business loan scheme, giving you an opportunity to benefit from the lowest interest rate, quick and hassle-free loan process, and flexible repayment options.
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Faircent Business Loan
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Faircent Business LoanHere are a few factors
| Location | PAN INDIA |
| CIBIL Score | 630+ |
| Processing | Online |
| Business Vintage | 2 Year |
| Minimum Turnover | 10 Lac |
| Loan Amount & Tenure | 50k
-10 Lac (6 Month to 36 Month) |
| Loan Product | Fixed EMI Base |
| Rate of Interest & Type | 25% to 30% (Reducing) |
| TAT | Sanction-3
Days Disbursement-7 Days |
| Processing Fees | 7% to 8% |
| Foreclosure Charges | 5% |
| Applicant Type | Only Individual or Proprietorship Firm |
| Whether Co-Applicant Mandatory | No |
| Proprietor Age/Co-Applicant Age | 21 Year to 55 Year |
| Part Payment Allowed | No |
| Whether Ownership Proof Required | No |
| Business Registration Proof Mandatory | No |
| Program | Banking Program-10 lac, ITR Program-10 Lac |
| Product for Professionals | No |
| Negative Profile | Advocates,
Gain trader, Share Traders, Liquor, School, GYM, Man Power industry, Civil Contractor, Real Estate, Minus 1 CIBIL Applicant |
| USP | Funding to Both Side Rented Applicant, Funding on ITR Basis without GST |
Faircent Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 25 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,504 |
| Total Interest | ₹ 14,053 |
| Loan Amount + Interest | ₹ 114,053 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 22,729 | ₹ 5,783 | ₹ 28,512 | ₹ 77,271 | 22.73 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 77,266 | ₹ 8,270 | ₹ 85,536 | ₹ 5 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Documents Required for Faircent Business Loan
-
KYC of applicant
-
Last 2 year ITR with computation of income of applicant
-
Last 12 month Bank Statement of applicant
-
Copy of GST registration
-
Latest utility Bill of residence or Office if Owned
-
Rent agreement of Residence or Office if rented
Some Important Points
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
Note : Faircent Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
About Faircent Business Loan
Are you thinking about getting a business loan? You're not alone. Most entrepreneurs at some point question whether or not it's time to take out a business loan and invest in their company's future. It's one of the best ways to expand your business, provide additional working capital, or fund other important business expenses. If you are a business owner and have been looking for expanded markets and better business growth, then you need easy access to funds. At Faircent we provide an improved platform to meet your business needs. Faircent has launched its business loan scheme, giving you an opportunity to benefit from the lowest interest rate, quick and hassle-free loan process, and flexible repayment options.
Features of Faircent Business loan
|
Lowest Interest Rates |
No Bank Mediation |
|
Get to Choose the Rate that Suits You |
Get Funded Faster |
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Let us take an example, How EMI is being calculated
For instance, if "Shubham" applies for a Faircent Business Loan of INR 1 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 36 Months , in such a case his EMI would be INR 3,467 and complete repayment amount till the end of 36 Months tenure would be INR 1,24,795 (i.e 3,467 EMI * 36 Months), wherein the total interest amount is INR 24,795 along with principal repayment of INR ₹1,24,795 . Few additional charges like those of minimal one-time processing fee 4%-9% of the disbursed amount + GST of loan amount may apply. T&C apply.| Year | Principal (A) |
Interest (B) |
Total Payment (A + B) |
Balance | Loan Paid To Date |
|---|---|---|---|---|---|
| 2022 | ₹ 11,363 | ₹ 5,969 | ₹ 17,333 | ₹ 88,637 | 11.36% |
| Aug | ₹ 2,217 | ₹ 1,250 | ₹ 3,467 | ₹ 97,783 | 2.22% |
| Sep | ₹ 2,244 | ₹ 1,222 | ₹ 3,467 | ₹ 95,539 | 4.46% |
| Oct | ₹ 2,272 | ₹ 1,194 | ₹ 3,467 | ₹ 93,267 | 6.73% |
| Nov | ₹ 2,301 | ₹ 1,166 | ₹ 3,467 | ₹ 90,966 | 9.03% |
| Dec | ₹ 2,329 | ₹ 1,137 | ₹ 3,467 | ₹ 88,637 | 11.36% |
| 2023 | ₹ 30,332 | ₹ 11,266 | ₹ 41,598 | ₹ 58,305 | 41.70% |
| Jan | ₹ 2,359 | ₹ 1,108 | ₹ 3,467 | ₹ 86,278 | 13.72% |
| Feb | ₹ 2,388 | ₹ 1,078 | ₹ 3,467 | ₹ 83,890 | 16.11% |
| Mar | ₹ 2,418 | ₹ 1,049 | ₹ 3,467 | ₹ 81,472 | 18.53% |
| Apr | ₹ 2,448 | ₹ 1,018 | ₹ 3,467 | ₹ 79,024 | 20.98% |
| May | ₹ 2,479 | ₹ 988 | ₹ 3,467 | ₹ 76,545 | 23.45% |
| Jun | ₹ 2,510 | ₹ 957 | ₹ 3,467 | ₹ 74,036 | 25.96% |
| Jul | ₹ 2,541 | ₹ 925 | ₹ 3,467 | ₹ 71,495 | 28.51% |
| Aug | ₹ 2,573 | ₹ 894 | ₹ 3,467 | ₹ 68,922 | 31.08% |
| Sep | ₹ 2,605 | ₹ 862 | ₹ 3,467 | ₹ 66,317 | 33.68% |
| Oct | ₹ 2,638 | ₹ 829 | ₹ 3,467 | ₹ 63,679 | 36.32% |
| Nov | ₹ 2,671 | ₹ 796 | ₹ 3,467 | ₹ 61,009 | 38.99% |
| Dec | ₹ 2,704 | ₹ 763 | ₹ 3,467 | ₹ 58,305 | 41.70% |
| 2024 | ₹ 35,208 | ₹ 6,390 | ₹ 41,598 | ₹ 23,097 | 76.90% |
| Jan | ₹ 2,738 | ₹ 729 | ₹ 3,467 | ₹ 55,567 | 44.43% |
| Feb | ₹ 2,772 | ₹ 695 | ₹ 3,467 | ₹ 52,795 | 47.20% |
| Mar | ₹ 2,807 | ₹ 660 | ₹ 3,467 | ₹ 49,988 | 50.01% |
| Apr | ₹ 2,842 | ₹ 625 | ₹ 3,467 | ₹ 47,147 | 52.85% |
| May | ₹ 2,877 | ₹ 589 | ₹ 3,467 | ₹ 44,270 | 55.73% |
| Jun | ₹ 2,913 | ₹ 553 | ₹ 3,467 | ₹ 41,356 | 58.64% |
| Jul | ₹ 2,950 | ₹ 517 | ₹ 3,467 | ₹ 38,407 | 61.59% |
| Aug | ₹ 2,986 | ₹ 480 | ₹ 3,467 | ₹ 35,420 | 64.58% |
| Sep | ₹ 3,024 | ₹ 443 | ₹ 3,467 | ₹ 32,397 | 67.60% |
| Oct | ₹ 3,062 | ₹ 405 | ₹ 3,467 | ₹ 29,335 | 70.67% |
| Nov | ₹ 3,100 | ₹ 367 | ₹ 3,467 | ₹ 26,235 | 73.76% |
| Dec | ₹ 3,139 | ₹ 328 | ₹ 3,467 | ₹ 23,097 | 76.90% |
| 2025 | ₹ 23,097 | ₹ 1,169 | ₹ 24,266 | ₹ 0 | 100.00% |
| Jan | ₹ 3,178 | ₹ 289 | ₹ 3,467 | ₹ 19,919 | 80.08% |
| Feb | ₹ 3,218 | ₹ 249 | ₹ 3,467 | ₹ 16,701 | 83.30% |
| Mar | ₹ 3,258 | ₹ 209 | ₹ 3,467 | ₹ 13,443 | 86.56% |
| Apr | ₹ 3,298 | ₹ 168 | ₹ 3,467 | ₹ 10,145 | 89.86% |
| May | ₹ 3,340 | ₹ 127 | ₹ 3,467 | ₹ 6,805 | 93.19% |
| Jun | ₹ 3,381 | ₹ 85 | ₹ 3,467 | ₹ 3,424 | 96.58% |
| Jul | ₹ 3,424 | ₹ 43 | ₹ 3,467 | ₹ 0 | 100.00% |
FREQUENTLY ASKED QUESTIONS
No, the minimum business registration period to apply must be 2 years old
You can avail of up to Rs. 10 Lakhs for a business loan.
Yes, to ensure the identity of the borrower, Faircent will carry a physical verification at the resident's as well as the office address.
No, there won’t be any Bank Mediation as it is a Peer-to-peer lending platform.
After 3 months ( Rs. 500 charges + principal) of foreclosure charge is applicable on the faricent business loan.
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