Benefits of Ecofy
Instant Offer
Easy loan journey providing affordable options
Digital and Retail
Ticket size INR 5 to 25 lacs
Flexible
Flexi credit product offering to SME's
What We Offer
Term Loan
EMI based loan to finance your business Assets and equipments
- Long Term up to 48 months
- No security / guarantee required
- Ideal for capital investment in your business
- Based on financial strength
- Quick approval
Working Capital
Grow your business multi fold with our Flexi credit options
- Short Term up to 6 months
- No collateral
- Limit available for usage anytime.
- Pay only for utilized amount
- Manage immediate finance needs
- Quick approval
Straightforward product
What’s affordable, with no hidden charges and an attractive rate of interest starting at 12%*? Our tailormade solutions!
Easy is our second name
Avail a complete sanction and draw as per your requirement.
Lightning fast
We’re digital with minimal paperwork, which means we are quick!
*T&C apply
Get a SME loan in just few steps
73-5252-1515
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you provide. We do not guarantee their accuracy, or applicability to your circumstances.
FAQs
Some things should never be delayed. Like making your footprint greener. So, whether you are a green business or want to invest in reducing the carbon footprint of your business, our loans can help you get there! With Ecofy’s green SME loans you can get the funds to ensure cash flow, access to working capital, hire new employees, buy new equipment or expand your business.
Here is your answer: Our loans come with affordable rates starting from 1% per annum with absolutely no hidden charges! (Avail a complete sanction and draw as per your requirement.?) Our loan process is super fast because it’s completely digital with minimal paperwork! You can also avail our ‘fast-track’ application process to finance both investments and working capital.
- KYC documents of the company: PAN Card, Registration of Incorporation, Partnership deed, Memorandum & Articles of Association.
- KYC documents of the business owners
- Balance sheet and Profit & Loss accounts for the last 2 years
- Income Tax Returns for the last 2 years (Taken Online)
- Company bank statements for the last 6 months
- GST returns for the last 6 months (Taken Online)
- A report detailing how the Loan will be used
Professionals, non-professionals, and self-employed! Our loans are approved quickly and are available at competitive interest rates.
The customer segments covered under SME Loans are listed below:
- Sole Proprietorship
- Partnership Firm
- Private Limited Companies
- Closely held Public Limited Companies
- Societies
- Trusts
- Hospitals, Nursing Homes, Diagnostic Centers, Pathological Labs.
Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit: whatever floats your boat!
Yes! You! Can!
Ecofy is happy to provide SME loans to your online retail store or e-commerce website. Fulfil the following criteria for swift online business loan approval:
- A CIBIL score above 700
- A business that has been profitable for 3 consequent financial years
- A turnover showing an upward trend
- A balance sheet audited by a CA
It won’t affect your personal credit score.
Business owners have business and personal credit. Loans for sole proprietorship and partnership businesses are guaranteed by an individual. So, the loan is reflected in your personal CIBIL report. However, if your company’s structure is LLC, then the SME loan affects only the business’ CIBIL score.
Here’s a piece of good news for you: any interest levied on an SME loan is exempt from taxation! This is because the interest paid is considered to be a business expense and not revenue. Registering as an MSME (full form of MSME perhaps?) can also help you avail of business loan tax benefits on excise and other charges. However, the principal amount is not tax-deductible.
You are eligible for an SME Loan if you match the following criteria:
- Between 25-65 years of age
- Have a business that shows a profit for the last 3 consecutive financial years
- Have a business that shows an upward turnover trend
- Are able to show a balance sheet that is audited by a registered CA
If you run a sole proprietorship, you can use a personal bank account for your business. For a corporation or limited liability company (LLC), you need to have a business account. However, a business bank account is not mandatory for a loan. As per the business loan eligibility criteria, your business must be profitable for 3 consequent financial years.
Your EMI depends on the loan amount. We’ve got a special EMI calculator *right here* to help you figure out exactly how much you need to pay.
*right here is hyperlinked to the calculator.
You can get up to ₹50 lakhs and more depending on your credit score.
For a business loan, you can take up to 36 months to repay.
The interest rate for our SME loans is floating.
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