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Frequently Asked Questions (FAQs) for Business Loan

WHAT IS A BUSINESS LOAN?

It is a loan taken by a business (sole proprietorship, partnership or a private limited company) to fund a new business or fund growth and expansion in an existing business . A Business Loan can be secured (i.e. against assets / property of the business) or it can be unsecured (i.e. without pledging anything against the borrowed amount). A Business Loan is thus a loan at an agreed interest rate to be repaid over an agreed time along with the interest from the cash flows generated by the Business. On the Business Loans side, the focus of TCFPL is going to be on funding SMEs (small and medium enterprises) for their expansion and working capital requirements.
WHAT IS THE TYPICAL SIZE OF A BUSINESS LOAN?

The size of a Business Loan varies from a few lakhs to a few crores depending on the nature and size of the businesses. TCFPL is focused on lending ranged from Rs. 1 lakh to upto Rs. 10 crore.
WHAT IS THE TENOR FOR THE BUSINESS LOANS?

The tenor of the loan depends on the business requirements and the nature of the business. TCFPL is looking at funding businesses for their short to medium term requirements ranging from 12 to 36 months.
WHAT ARE THE DOCUMENTS REQUIRED FOR APPLYING FOR A BUSINESS LOAN?
Typically, the following documents for the business and the promoter are required at the application stage -
- Audited Financials for previous years and unaudited financials for the current year
- Income Tax Returns
- Bank Statements
- KYC Documents
- Proof of ownership of the assets
- Key contracts of the business
As the due diligence process goes on, additional documents maybe requested from the Borrower.