Faircen Pro is a new business loan feature by Faircent, a peer-to-peer (P2P) financial company. Grow your small and medium enterprises (SMEs) businesses with the help of Faircent Pro business loans. The peer-to-peer lending platform offers up to 50 lakh loans.
The simplified and innovative approach borrowers happily accepted. Enjoy reducing interest rate from 22% to 36% p.a.
Faircent Pro Business Loan
| Loan Available | Rs. 10 Lakh to Rs. 50 Lakh |
| Rate of Interest | 22% to 36% p.a. |
| LoanTenure | Up to 60 months |
| Applicant Process | Digital |
| Credit Score | 670+ |
| Processing Charge | 2% to 5% + GST charge |
Understanding Faircent Pro Business Loan
Faircent is a popular P2P NBFC lending company in India. This lender introduces pro-business loans specifically for SME business groups. Small, Medium, and enterprise businesses with 12 lakh per annum business transactions are included in the pro category.
The Faircent Pro business loan is a flexible repayment term of up to 60 months. The competitive interest rates and minimal documents are extra features of this business loan.
Key Features
1. Flexible Loan Amount: Get a maximum business loan into the Faircent Pro category up to Rs. 50 lakh. The loan amount depends on your business turnover.
2. Competitive Rates: SME businesses get affordable interest on Faircent Pro business loans. The reduced interest rate which is start 22% to 36% p.a.
3. Flexible Term: Enjoy flexible repayment for up to 60 months. Lender allowing repayment schedules date as per borrower recommendation.
4. Minimal Documentation: Faircent Pro demands minimal documents for the business loan process. This financial institute helps fast disbursement at low document criteria.
5. Collateral-Free Loans: New and small businesses get loans without collateral or security deposit. Faircent Pro business loan simplified the loan journey with an unsecured loan process.
Also Read: I want 1000 rupees loan urgently
Advantages of Faircent Pro Business Loan
Fast Process: Faircent Pro business loan is reducing application process time. The loan disburses time is 72 hours that bit the traditional bank.
Investor Opportunities: Faircent is a P2P lending company that benefits borrowers and investors who can earn high returns. Investors may choose a diverse pool of borrowers and gain profit without any risk.
Business Growth: The flexible funding solution helps to manage business cash flow. Faircent Pro provides a maximum amount of money for your business growth.
Accessibility: Faircent makes a simple and user-friendly platform. Borrowers can access and apply without a physical branch visit.
Faircent Pro Business Loan Eligibility
The Faircent Pro business loan eligibility process is not complicated. Follow the simple criteria:
- Indian residence must be required.
- Borrower credit score not below 670+.
- Only self-employed business people can apply.
- Your age 23 to 65 years is acceptable.
- Business transactions should be 12 lakh. That means Banking credit must be 12 lakh or above.
- Borrower business vintage proof 1 year old required.
Also Read: Faircent Business Loan
Documents for Faircent Pro Loan
- Aadhaar Card
- Pan Card
- Vintage Proof: Trade License/ MSME Certificate / GST File
- 1-year savings or current account statement (The minimum banking credit must cross 12 lakh within 1 year)
- Residential proof: Utility bill / Tax Receipt
Faircent Pro Business Loan Interest & Charges
| Interest Rate | 22% to 36% p.a. |
| Processing Charge | 2% to 5% + GST charge |
| Late Fee | Decide by lender |
How to Apply for a Faircent Pro Business Loan
1. Application Process: The borrower’s first step is to check credit score eligibility by applying with basic documents.
2. Online Apply: Start your application from the “Apply Now” tab. You will be redirected to Faircent’s official page.
3. Submit Form: Borrowers need to fill out an application form with detailed information such as PAN card number, date of birth, loan amount, residential address, etc. After fill the details click on the submit button.
4. Eligibility Check: If your application passes the credit check, you need to complete the next step.
5. Upload Documents: Borrower documents must be original pictures with good quality. Documents such as 1-year bank statement pdf, PAN card, Aadhaar Card, trade license, MSME certificate, and electricity bill are uploaded one by one.
6. Final Submission: The final submission process must be completed by clicking on the submit button. Now lenders will check your creditworthiness for a loan.
FAQs on Faircent Pro Business Loan
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Can I apply for a Faircent Pro business loan with a bad credit score?
Faircent Pro business loan is available for a minimum 670+ credit score holder. No DPD within the recent 6 months are eligible.
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What are the document criteria for a Faicent Pro business loan?
A simple list of documents such as 1 year current/saving/CC account statement, old and new trade license, MSME certificate, residential electricity bill, PAN card, and Aadhaar card required.
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What is the interest rate of a Faicent Pro business loan?
The interest of Faircent Pro business loan is 22% to 36% p.a. on reducing rate.
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What is the highest loan amount available from Faicent Pro?
The maximum loan amount of up to 50 lakh is available from Faircent Pro. The borrower gets a loan after checking eligibility criteria.