Contact Number : +91 99671 47837
Information enables, knowledge empowers, wisdom elevates. In this age of smart phones and digital enablement for all, new forms of credit are constantly coming to our door steps; being aware can transform the way we think about funding our businesses. We are passionate about issues that surround small businesses and this space is devoted towards spreading awareness about various tools that can benefit entrepreneurs. Keep reading..

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1. What is UdyogCredit?

UdyogCredit is a credit enabling platform for small businesses. We enable loans from INR 2 lakh to 25 lakh through various lender partners. Small businesses can apply on our portal or call us, we assess each application through our proprietary models, provide you alternatives to borrow and expedite disbursement.

2. What kind of loans does UdyogCredit enable?

We enable unsecured and secured business loans, loan for machinery purchase, loan for modernisation, renovation of shop/plant, loans for purchase of stock ,to manage receivables/debtors, day to day operating expenditure for your business or to start a new business.

3. Does UdyogCredit lend itself?

No, we do not lend ourselves. We work with various lenders like Banks, NBFC (Non-bank Financial Companies). We try and make the application-to-disbursement process easier and faster for you. Each application is screened thoroughly through our credit models, we provide you alternatives, recommend the right lender for your requirement and expedite the process till you receive funds.

4. In which cities does UdyogCredit provide its services?

We currently serve customers at Mumbai, Navi Mumbai,Thane and Kalyan.

5. I am thinking about starting a new business, can I apply for a loan with UdyogCredit for this purpose?

Yes, we enable loans for new businesses in manufacturing, services or trading industries. Your application will go through a screening + scoring process, post eligibility assessment, the funds will be made available to you.

6. What is the maximum and minimum ticket size of loans that UdyogCredit enables?

We enable business loans starting from INR 2 lacs upto 25 lacs.

7. What are the interest rates on loans enabled by UdyogCredit?

Interest rates depend on multiple factors like your previous loan repayment track record, business vintage, specific business characteristics, loan type and loan tenure. Generally interest rates for secured loans are lower as opposed to those for unsecured loans. Interest rates range between 11 to 22%.

8. After my application is submitted how much time will it take for me to receive funds?

Once we collect all required information from you, time taken can be between 5 working days to 22 working days. Time taken depends upon the kind of loan, documentation requirement and lender type.

9. What is the tenure of loans?

Loan tenure depends upon the kind of loan. Secured business loans terms can range from 5 to 15 years and unsecured loans can range from 6 months to 5 years.

10. Are there any specific industries where you enable lending?

We are focused on small businesses of any kind, our clients are manufacturing, trading or services enterprises with loan requirements of INR 2 to 25 lakhs.

11. I don't have income tax returns, can I get a loan?

Absolutely :). Income tax returns are good to have but not a must to get a loan. We will need at least month's bank statement and your address and identity proof.

12. What are the documentation requirements for me to avail a loan?

In a typical loan, you need 4 kind of documents, address proof, identity proof, business proof and income proof (like bank statements or income tax returns) and if you are borrowing against any kind of security like LIC policy, house or a shop you will need to submit ownership documents as well. Read more about documentation here. But, if you don't have some of these, don't worry and talk to us!

13. How is my loan eligibility determined?

Loan eligibility assessment is a complex topic, at the core, its only about assessing a borrowers repayment ability. But to come to that conclusion, lenders require to assess lot of parameters like your future income potential, sum of all your current and future obligations, stability of business. Lenders also want to see your past loan repayment track records and there credit score comes into picture. In nut shell its a summation of lots of parameters judged together.

You can calculate your loan EMI through this calculator!

14. What is a secured loan?

When you borrow against any kind of collateral or security it is known as a secured loan. Kind of security can be anything like a house, a commercial premise or any other financial asset like gold, mutual funds, life insurance policy. Typically interest rates on secured loans are lesser than those on unsecured loans, also tenure of a secured loans can be longer. Know more about business loans here..