Introduction:

Faircent, a leading peer-to-peer lending platform, now offers business loans through its registered lenders. Entrepreneurs can apply for loans up to Rs. 10 Lakhs, with interest rates starting at a competitive 12% per annum and a repayment tenure up to 36 months.

Explore Faircent Business Loans to meet your business demands and elevate your venture.

Faircent Business Loan Key Details:

• Rate of Interest: Competitive rates from 12% to 28% per annum.
• Loan Amount: Secure up to Rs. 10 Lakhs for business expansion.
• Repayment Tenure: Flexible period up to 36 months.
• Processing Fee: Charged between 6% to 8% of the loan amount.
• One-time Filing Fee: A nominal Rs. 500 applies.
• Prepayment Fee: Rs. 500 non-refundable fee for prepayment within 3 months.

Why Choose Faircent Business Loan?

• Lower Interest Rates: Benefit from lower rates by skipping intermediaries.
• Direct Borrowing: Easily access funds directly from trusted lenders.
• Quick Disbursement: Get funds in hours after listing your request.
• Easy Application: Complete the seamless application process online.
• Transparent Charges: No hidden fees in Faircent's transparent approach.
• Multiple Lender Funding: Loans funded by multiple lenders to mitigate risk.
• Flexible Repayment Dates: Choose EMI repayment dates between the 1st and 10th.
• No Prepayment Charges Post 3 Months: No foreclosure penalty after three months.

Use the Business Loan EMI Calculator on Faircent's website to estimate your monthly EMI by inputting the loan amount, interest rate, and tenure. For instance, a Rs. 10 Lakh loan at 12% annually for 3 years results in a monthly EMI of Rs. 33,214, with a total payable amount of Rs. 11,95,715.

A comprehensive amortization schedule is also available, outlining the principal and interest payments year-wise.

Comparison with Other Lenders:

Documentation Required:

Applicants need to submit photographs, identity and address proofs, date of birth verification, signature, contact, and income proofs, along with IFSC code and NACH mandate.

Eligibility Criteria:

• Must be an Indian resident, 21 years or older.
• Regular income source required.
• Minimum gross income of Rs. 2 Lakhs per annum.
• Complete document checklist submission.

Associated Charges:

• Interest Rate: 12% to 28% per annum.
• Processing Fee: 6% to 8% based on the loan amount.
• One-time Filing Fee: Rs. 500 non-refundable.
• Prepayment Fee: Rs. 500 non-refundable prepayment fee.
• Penal Interest: 18% per annum for missed EMIs.
• Legal Notice Fee: Rs. 500 per notice.
• EMI Date/Bank Change Fee: Rs. 500 per change.
• Statement Maintenance Fee: Rs. 100.

For more assistance, contact Faircent’s customer care at 0120-4659902 or email support@faircent.com. For grievances, reach out to Grievance Officer Dicky Singh or visit their Gurgaon office.

Faircent is revolutionizing entrepreneur access to business loans—apply today to propel your business!