CIBIL SCORE BUSINESS LOAN

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Cibil Score Business Loan

There is a huge role played by CIBIL score for a business loan. The CIBIL score is a 3-digit number representing the credit history of an individual. This score is calculated based on the credit history of the individual along with his or her past debts ranging between 300 and 900. The majority of the lending organizations require the borrowers to have a good CIBIL score to avail certain loans. They use the Cibil score of an individual for checking his or her creditworthiness. FlexiLoans has a clear understanding of the fact that several factors can take a toll on the Cibil score of an individual. Therefore, we offer a business loan for low CIBIL without following the Cibil score norms. We have our very own holistic process of evaluating the creditworthiness of our borrowers.


Cibil score for Business Loans without Collateral

The credit report for the business loan availed by a certain individual is very important. The score denotes whether an individual has successfully paid off loans taken from financial organizations and banks. Based on the timely loans payments of the borrowers, the Cibil score is duly generated. The ones who have been defaulters or have not paid the loan amount taken generally have low Cibil scores. The minimum Cibil score business loan amount is 750. Individuals who are unable to get a score within 700 and 900 might not be eligible to avail a term loan or invoice financing. But with FlexiLoans, things and situations can be completely different.


Basic Eligibility Criteria

Minimum Business Vintage 1 year
Monthly Business Sales Minimum 2,00,000

What Makes Us Different?

We, at FlexiLoans, completely understand that every individual and business is exclusive. The restricted criteria of calculating the Cibil score for availing a loan against POS, line of credit loan or any other form of the business loan will not be able to capture the peculiarities of small businesses. Thus, for a solution, we have come up with our way of evaluating the Cibil scores of the borrowers. If you require business loans on an emergency basis with a low Cibil score, you can always come to us and avail the loans we have on offer.

We are a non-banking financial organization that can offer you the best rate of interest business loans even if you have a lot of credit score. And yes, you do not need to provide any collateral for availing our business loans.


Documents Required for Cibil Score Business Loan

Personal KYC PAN card
Residential Address Proof (Any One) Rent Agreement | Driving License | Voter's ID | Ration Card | Passport | Aadhar Card
Banking Last 6 months current account bank statements
Business KYC (Any One) GST Registration Certificate | Shops & Establishment Certificate | Business PAN Card

Frequently asked questions

What are the purposes for which I can get a loan via FlexiLoans?

FlexiLoans is here to provide you financial access for your business funding needs. You have to undergo simple and transparent Credit Evaluation, basic documentation before we disburse the loan. You may get loans via FlexiLoans for:
  • Expanding your business
  • Servicing regular working capital needs
  • Managing seasonal working capital requirements
  • Manage short term cash flow gaps

Why should I avail loan via FlexiLoans?

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

What documents are required to apply for a loan?

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

Are there any charges other than interest rate that I have to pay to avail the loan?

We may charge processing fee to facilitate the loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.

What is the best cibil score to get a business loan?

CIBIL scores can range between 300 and 900, with 900 denoting maximum. A CIBIL score of 700 or above in your credit report is ideal and will help in qualifying you for Business Loan.

Is cibil score required for business loan?

Yes, The CIBIL score is an indicator of a person's creditworthiness. A good CIBIL credit score is considered to be 700 or higher.

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

We may charge processing fee to facilitate the loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.

CIBIL scores can range between 300 and 900, with 900 denoting maximum. A CIBIL score of 700 or above in your credit report is ideal and will help in qualifying you for Business Loan.

Yes, The CIBIL score is an indicator of a person's creditworthiness. A good CIBIL credit score is considered to be 700 or higher.