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  • Capital Float Short-Term Loan for Small Businesses

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  • When you are an entrepreneur operating a small business, you might face an urgent requirement for credit in order to maintain a healthy working capital to take care of your operational needs while expanding or diversifying your business. In order to meet such types of financial requirements, you can apply for a short-term loan through Capital Float. These loans can be availed by B2B service providers, distributors, traders, and manufacturers who are operating on a wide-reaching scale. The short-term loans for small businesses offered by Capital Float require minimal documentation. Furthermore, the company also ensures that the loan applications are approved as quickly as possible so that the customers can get access to collateral-free credit without having to wait too long.

    About Capital Float

    Headquartered in Bangalore, Capital Float is a non-banking financing company (NBFC) registered with the Reserve Bank of India (RBI) that provides an online platform to small and medium enterprises (SMEs) through which they can borrow short-term loans. These loans can be used by the merchant to meet any kinds of business requirements such as inventory purchase, cash cycle optimisation, new order servicing, etc. With minimal paperwork and a simple application process, customers can be assured that their loan applications at Capital Float will be approved in no time and the funds will be transferred to their account within as less as 3 days.

    Since it is difficult for SMEs to secure a traditional loan from a bank, Capital Float strives to bridge the current gap in the lending market by offering flexible loan products to SME borrowers that will allow them to gain access to simple and collateral-free credit for a short term. The company has a team of expert professionals who hold degrees from the leading institutes in the world such as Princeton University, Stanford University, The London School of Economics, IIT Mumbai, and Delhi University. The knowledgeable staff of the company has working experience in blue-chip companies such as Wipro, Gokaldas Exports, McKinsey & Company, Oracle, Capital First, and Citibank.

    Features of Capital Float Short-Term Loan for Small Businesses

    Learn about the features of Capital Float Short-Term Loan for Small Businesses by checking out the list mentioned below:

    • Quantum of loan - To help customers meet their all kinds of business requirements, Capital Float offers a wide range of loans subject to a minimum of Rs.5 lakh and a maximum of Rs.50 lakh.
    • Loan repayment tenure - When a business owner chooses this company to secure a loan in order to meet his or her business needs, he/she will have the flexibility to opt for a loan tenure that suits his/her requirement, situation, and repayment capacity. The loan tenures under this scheme can range anywhere between 12 months and 36 months.
    • Custom credit option - Capital Float understands that no two businesses are same. Therefore, no two business credit requirements can be same as well. Hence, based on the unique requirements, resources, and objectives of an enterprise, the company offers custom-tailored credit plans to its customers. Customising the underwriting parameters as per the needs of the borrower helps the company meet their specific financial needs.
    • Zero prepayment fee - If the borrower decides to repay the loan under this scheme before its scheduled time due to a sudden inflow of cash, he or she will not be charged any additional prepayment fee for this service.

    Benefits of Applying for a Short-Term Loan for Small Businesses at Capital Float

    There are numerous advantages to applying for a Capital Float Short-Term Loan for Small Businesses. See the list mentioned below to learn about them in details:

    • Hassle-free application process - With an online lending platform, customers will be not have to make multiple trips to the bank or NBFC in order to get their loan approved. Borrowers applying for a short-term loan with this company will be able to do so from the comfort of their home at any time of the day from anywhere.
    • Fast loan approval - While facing an urgent financial crisis, it is important that the borrower gets access to cash as soon as possible to be able to quickly repay the debt. Capital Float understands this and tries to approve a loan application at the earliest after appraising the creditworthiness of the candidate.
    • Quick disbursal of funds - Repaying the debt as soon as a financial crisis arises keeps the debt from accumulating for a longer period of time to become a huge amount. Therefore, this NBFC tries to disburse the loan amount to the borrowers within as less as 3 days.
    • No collateral or guarantor - In order to avail this loan, the applicant is not required to provide any third-party guarantor or collateral, such as a personal or business asset, as security.

    Capital Float Short-Term Loan for Small Businesses Interest Rates

    With a loan application process that takes less than 10 minutes, customers can apply for a short-term unsecured loan under this scheme to meet all their business financial requirements. The rate of interest offered by Capital Float under this plan depends on numerous factors such as loan amount, repayment tenure, borrower’s credit score, etc. Once an individual applies for this type of a loan, the company receives the borrower’s details through the application request along with the documents submitted. Capital Float evaluates this information to deduce the eligible loan amount and interest rate. Then, a representative of the company gets in touch with the applicant to process the application based on his or her requirement, situation, and repayment capability.

    Capital Float Short-Term Loan for Small Businesses Fees and Charges

    Capital Float prides itself on maintaining transparency during all its processes and transactions. Therefore, customers can be assured that they will not be charged any hidden fees. While the company charges a processing fee of 2% on the loan amount secured, any pre-closure penalty is not levied on the borrowers during or after the loan application.

    Eligibility Criteria for Capital Float Short-Term Loan for Small Businesses

    As the name suggests, this loan scheme is available only for small and medium enterprises. The types of businesses that can apply for this loan are:

    • B2B service providers
    • Distributors
    • Traders
    • Manufacturing service providers

    In order to be eligible for this scheme, the merchant must fulfil the following criteria:

    • The concerned business must have been operational for a minimum of 3 years.
    • The annual turnover of the company should be more than the audited financials or Rs.1 crore.
    • The CIBIL score of the borrower should be 650 or above.

    Documents Required to Apply for Capital Float Short-Term Loan for Small Businesses

    While applying for this loan, you should ensure that you submit the documents mentioned in the list below:

    • Know Your Customer (KYC) documents of the merchant and the enterprise
    • Financial documents for the last 2 years such as Income Tax Returns (ITR), balance sheet, profit and loss statement, etc.
    • Documents with details of the VAT returns for the past 12 months from the application date
    • Statements of an active current bank account for the previous 6 months starting from the date of application
    • Sanction letters of all existing loans or overdrafts

    How to Calculate Your EMI for Capital Float Short-Term Loan for Small Businesses

    Customers can use the loan EMI calculator available at the official website of Capital Float to learn how much monthly installment amount you will have to pay.

    • Go to the company’s official website at ‘https://www.capitalfloat.com’
    • Select the ‘Term Finance’ option available under ‘Our Products’ mentioned on the navigation bar
    • The page will be redirected to the short-term loan scheme page
    • Find the EMI Calculator on the page after ‘Loan Process’
    • Move the scales of the calculator to select the loan amount, repayment tenure, and interest rate
    • Once the right details are selected, you will be able to see the amount of monthly installment you will have to pay
    • After selecting the right plan, you can click on the ‘Apply Now’ button below the calculator to apply for the selected scheme

    How to Apply for a Capital Float Short-Term Loan for Small Businesses

    See the steps mentioned below to learn how to apply for this scheme:

    • Visit the official website of Capital Float at ‘https://www.capitalfloat.com’
    • Click on ‘Term Finance’ available under ‘Our Products’ on the navigation bar
    • You will be redirected to a page containing the short-term loan scheme
    • Now, click on the ‘Apply Now’ button under ‘Fee and Charges’
    • This will redirect you to the page containing the application form
    • Next, you will have to fill out the form with the required details
    • Upload all the necessary documents along with the bank statements for the past months
    • Click on ‘Submit’ to complete your loan application process

    Once all the details furnished by you have been evaluated by the company, a company official will get in touch with you to offer a custom-tailored loan that will suit your business requirement. After you select a plan that suits your needs and repayment capacity, your loan amount will be disbursed to your account within one week from the date of loan application.


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