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Frequently Asked Questions

Why BizFunds?

Unlike other players in the market, BizFunds’ operations go beyond the services offered by NBFCs or SME Loan Providers. Its parent company, Power2SME began operations in 2012 and since then has on boarded 1 Lac + Manufacturing SMEs across India to help them source raw material faster and at better, competitive rates. BizFunds has drawn from this rich experience to develop its own understanding of the credit needs and financial cycle of SMEs and has packaged innovative and intuitive credit offerings which are simple, hassle- free, customer oriented and most importantly, bullet through procedures to process your loan fast.

How do I know BizFunds is a secure website?

All services and procedures are undertaken keeping your security as our foremost priority. We honour your faith in us and are committed to keeping your data secure at all times. We promise to never violate your information by using it for any other purposes other than what you have authorized us to do. We adhere to all Government of India regulation and other widely accepted internet safety regulations. To know more you can visit our Privacy Policy section.

What documents do I need to apply for loan?

We require minimal documentation to help you process your application

  1. Financials of the last 3 years.
  2. KYC documents of the applicant and the organization
  3. Bank statement of last 6 months
  4. GSTN Returns

*Additional documents may be required

How much can I Borrow (maximum or minimum)?

We currently help you with working capital loans for amount upto Rs. 5 Crore.

What is the average credit tenure? (duration)

The average credit period for our loan products ranges from 30 days to a maximum of 120 days

Which loans does BizFunds offer?

BizFunds currently offers Working Capital Loans for Purchase of Raw Materials and MRO ( Machine, Repair and Operations) products.

Are there any hidden charges?

We believe in complete transparency. All costs and charges involved will be conveyed to you in great detail by our team members before we process your application.

What are the steps to get started?

We follow a simple 4 step process:

  1. Apply Online or Request for a Callback
  2. Upload documents as requested by the operations team
  3. Verification & Approval, if you are eligible and have uploaded all required documents, your loans will be approved ASAP!
  4. Limits Sanctioned, use the sanctioned limits for purchase of raw material!

How do I repay?

We accept post-dated cheques from you at the time of signing off the loan documentation. In case you wish to pay online via RTGS, you can inform us until one working day before the due date of the Cheque so that we avoid cashing the cheque.

Can I repay before due date?

Yes you can repay before due date. There is no penalty for early payment. If you want to make early payment just send an email to support@bizfunds.com

How do late payments affect my loan?

We are a lending company formed under the rules and regulations as prescribed by the RBI and the Ministry of Finance. In case of any late – payment we are mandated to report the same to the competent authorities. This may also lead to a negative impact on your Credit Worthiness or Credit Ratings.

Can a borrower change the loan amount after approval?

Yes you can increase the amount of working capital loan required while we are still underwriting your loan request. You would need to inform about the same to us in writing through an email or inform your loan officer directly

Can I withdraw the loan request after approval?

Yes, you have the opportunity to withdraw your loan request even after an in-principle lending approval from our side.

Can I apply for multiple loans?

You can apply for multiple loans only once the payment against the previous loan has been duly completed or request for an increase in sanction limit

Do you need any collateral?

Our bouquet of products includes both collateral free loans and product which require collateral. Kindly read through our credit offerings to know more in detail

Do you undertake any physical verification?

Yes, we do undertake physical verification of your factory/ shop and your office. Our Key Account Managers will call you before fixing an appointment for Physical Verification

Do you provide Personal Loans?

We currently provide loans only for businesses

Need Something Specific?

Request a call back