Apply for Faircent Business Loan in India: The Ultimate Guide for MSMEs and Entrepreneurs.
In the fast-evolving world of digital finance, getting a business loan in India has become much more convenient, especially for startups, MSMEs, and entrepreneurs. One of the leading platforms that stands out in peer-to-peer (P2P) lending is Faircent. If you're planning to apply for a Faircent business loan in India, this detailed guide will help you understand the process, eligibility, benefits, and everything in between.
What is Faircent?
Faircent.com is India’s first and one of the largest RBI-registered peer-to-peer (P2P) lending platforms, allowing borrowers and investors to connect directly. It bypasses traditional banking intermediaries, thus making funds available at lower interest rates and with more flexibility.
For Indian entrepreneurs, Faircent business loans present a smarter alternative to traditional bank loans, with quicker approvals, minimal documentation, and transparent terms.
Why Choose Faircent for Business Loans?
Before diving into the application process, let's explore why Faircent is a preferred platform for business financing in India:
1. Flexible Loan Amounts
- Borrow anywhere from ₹50,000 to ₹10,00,000 or more based on your business needs.
- You can choose the loan tenure that suits your repayment capacity, typically ranging from 6 months to 36 months.
2. Competitive Interest Rates
- Interest rates are customized based on your credit profile.
- Rates are generally lower than unsecured bank loans because of the P2P lending model.
3. Fast and Paperless Process
- Entire application and approval process is online.
- Get loan offers in 48 hours or less after successful verification.
4. RBI Regulated
- Faircent is a NBFC-P2P registered under the RBI, ensuring safe and regulated financial practices.
5. No Hidden Charges
- Transparent fee structure.
- All costs are disclosed upfront, and there are no prepayment penalties.
Who Can Apply for a Faircent Business Loan?
Whether you're a sole proprietor, small business owner, startup founder, or an established entrepreneur, Faircent welcomes a wide range of borrowers.
Eligibility Criteria
To apply for a business loan via Faircent, you typically need to meet the following conditions:
- Age: 25 to 60 years
- Business Vintage: Minimum 1 year of business operations
- Income Proof: Bank statements, ITRs, GST returns
- Credit Score: A healthy CIBIL score (usually above 650)
- Valid KYC Documents: PAN Card, Aadhaar Card, Business Registration Certificate
Documents Required for Faircent Business Loan
You need to submit the following documents while applying:
- Identity Proof: PAN Card, Aadhaar Card
- Address Proof: Utility bill, Rent Agreement, or Aadhaar
- Business Proof: GST Certificate, Udyam Certificate, Trade License
- Financial Documents:
- Bank statements (last 6 months)
- Income Tax Returns (last 2 years)
- Profit & Loss statement (if applicable)
- Photographs and Signatures
How to Apply for Faircent Business Loan in India?
Here is a step-by-step guide to help you apply smoothly:
Step 1: Visit Faircent’s Official Website
Go to www.faircent.com and click on the ‘Apply for a Loan’ section.
Step 2: Register as a Borrower
Create your borrower profile by providing basic details like name, email ID, mobile number, and PAN.
Step 3: Upload KYC and Business Documents
Scan and upload the necessary documents for identity, income, and business verification.
Step 4: Get Your Profile Reviewed
Faircent’s underwriting team will evaluate your application and may ask for additional documents if needed.
Step 5: Receive Offers from Lenders
Once approved, your loan listing is made visible to potential lenders on the platform. Multiple lenders may fund your request partially or fully.
Step 6: Loan Disbursal
Once the funding is completed, the loan amount is directly transferred to your bank account, usually within 3–5 working days.
Faircent Loan Repayment and EMI
Faircent provides a flexible EMI repayment option through auto-debit (NACH) or post-dated cheques. You’ll receive monthly EMI reminders, and prepayment is allowed without any penalties.
Pros and Cons of Faircent Business Loan
Pros
- Fast loan approvals
- Online and paperless application
- Better loan terms than traditional banks
- Multiple funding sources (individual lenders)
- No prepayment fees
Cons
- Creditworthiness impacts funding speed
- You may receive partial funding if not enough lenders are available
- Slightly higher processing fee compared to banks
Tips to Improve Your Loan Approval Chances
- Maintain a Good Credit Score
- Keep Business Records Organized
- Apply for a Realistic Amount
- Provide Accurate and Honest Information
- Avoid Frequent Loan Applications
Apply for Instant Business Loan
Why Choose Faircent as the Best Business Loan Provider in India?
In the rapidly changing landscape of business financing, choosing the right loan provider can make or break your entrepreneurial journey. Among the many digital platforms in India, Faircent has emerged as a top-tier choice for business owners seeking flexible, affordable, and fast funding. Here’s why Faircent is considered one of the best business loan providers in India.
1. RBI-Registered and Fully Regulated
Faircent is registered with the Reserve Bank of India (RBI) as a NBFC-P2P (Non-Banking Financial Company – Peer-to-Peer) platform. This means it's not just a tech startup, but a legally recognized, secure, and regulated entity, offering trustworthy financial services.
2. Direct Access to Lenders – No Middlemen
Unlike traditional banks that involve complex layers of approval, Faircent connects borrowers directly to individual lenders. This peer-to-peer model eliminates intermediaries, reducing both the interest rates and time taken to disburse funds.
3. Customized Loan Offers Based on Your Creditworthiness
Every business is unique, and Faircent respects that. Rather than offering one-size-fits-all loan packages, Faircent uses advanced credit analysis to offer tailored loan offers based on your credit score, business performance, and financial health.
4. Faster Loan Approvals and Disbursals
Forget waiting for weeks! With Faircent:
- Your application is processed within 24-48 hours.
- If approved, funds can be disbursed within 3–5 working days.
- The entire journey from registration to funding is online and paperless.
5. Flexible Loan Amounts and Repayment Terms
Faircent gives you the power to choose:
- Loan amount: From ₹50,000 to ₹10 lakhs+
- Tenure: Ranging from 6 to 36 months
- Prepayment: You can close your loan early without any prepayment penalties
6. Ideal for MSMEs and Small Business Owners
Faircent has become the go-to platform for MSMEs (Micro, Small & Medium Enterprises) in India. It fills a critical gap by:
- Funding businesses that may not qualify for traditional bank loans
- Supporting those with limited credit history
- Providing hassle-free financing to women entrepreneurs, local retailers, and freelancers
7. Transparent Terms with No Hidden Charges
Faircent’s fee structure is upfront and transparent. You always know:
- The processing fees
- The interest rate
- The EMI amount
- The total cost of borrowing
There are no hidden charges, no surprise deductions, and no misleading clauses.
8. Excellent Customer Support and Digital Tools
Faircent offers a dedicated customer support team and a user-friendly dashboard where you can:
- Track your loan application
- Monitor your EMI schedule
- Download loan documents
- Communicate with your lender
It brings modern fintech convenience to business borrowing.
Final Words
Choosing Faircent as your business loan provider means saying YES to:
- Faster access to capital
- Transparent financial practices
- A supportive ecosystem for small business growth
If you're an entrepreneur ready to expand your business, invest in equipment, or simply need working capital, Faircent is one of the best digital lending platforms in India to make it happen.
Grow your business with confidence—choose Faircent today!
Frequently Asked Questions (FAQs)
1. Is Faircent safe and legal?
Yes, Faircent is registered with RBI as a P2P NBFC, making it a secure and legal lending platform in India.
2. What if my business is less than 1 year old?
Faircent usually prefers businesses with at least 1 year of operations. Startups can explore personal loan for business purposes on Faircent.
3. Can I get a loan without collateral?
Yes, Faircent business loans are unsecured, so no collateral is needed.
4. Can I apply if I have a low CIBIL score?
You may still apply, but approval is harder. You can increase your chances by applying for a smaller amount or improving your credit report first.
5. Is there a pre-closure charge?
No. Faircent does not charge any pre-closure penalties if you want to repay the loan early.
Final Thoughts
Faircent is revolutionizing the way business loans are processed in India. If you’re a small business owner or entrepreneur looking for a quick, transparent, and affordable business loan, Faircent could be your ideal lending partner. The flexibility, speed, and online convenience make it an attractive choice for India’s growing MSME sector.
Ready to fuel your business growth?
Apply now for a Faircent Business Loan and take the next big leap toward success!
Tags: #FaircentBusinessLoan #P2PLendingIndia #BusinessLoanIndia #MSMELoans #OnlineBusinessLoans #FaircentLoanEligibility #ApplyFaircentLoan
