Frequently Asked Questions
1 What kind of Loans does Fundscorner provide?
Fundscorner provides loans to Small businesses who sell online or receive payments through any online mode like Card swipe machines (POS) or wallet based payments.
2 Does Fundscorner provide loans like personal loans, consumer durable loans , two wheeler loans?
No Fundscorner only provides loans for business purposes.
3 What is maximum and minimum loan amount I can borrow from FundsCorner?
Loan amount ranges from Rs.30,000 to Rs.10 Lakhs. The eligible amount is determined based on the Credit Profiling of the borrower.
4 What is the loan tenure?
Loans are offered for a short term duration ranging from 15 days to 12 months. Loan tenure is customized for each Loan Product and borrower.
5 What is the mode of repayment?
The mode of repayment is via NACH , Cheques or an escrow arrangement made with our bank.
6 My business is less than 1 year old. Can I still get loan?
7 How long does it take to fill the application?
It would take less than 5 minutes to complete the online application and upload documents.
8What documents I need to upload while applying the loan?
PAN Card, Address Proof, 6 Months Bank Statement
9How do I find if I am eligible for a loan?
You need to be a registered business in India with Minimum turnover of Rs 30,000 p.m for the last 3 months to be eligible for a loan.
10How quickly will I get the approval decision?
You will be notified of the approval decision within 4 hours of submission of loan application.
11How quickly will the loan be disbursed?
Within 24 hours of loan documentation.
12Can I prepay & foreclose the loan before the end of the loan term?
Yes, without any prepayment penalty.
13What is FundsCorner?
FundsCorner is a digital lending company which aims to provide working capital finance to small businesses in India in a simple, easy and transparent manner. Our endeavour is to partner with the SMEs to offer flexible, short term loans to meet their funding requirements so that they can focus on the business. FundsCorner is the trade name of Rajkamal Leasing and Investments Private Limited, a NBFC registered with RBI.
14Where is FundsCorner registered?
FundsCorner’s registered Office is in Hyderabad
15What kind of businesses does FundsCorner lend to?
16How do i check the status of my loan application?
You can check the current status of your loan application from the “Dashboard” using our FundsCorner customer portal. You may also answer queries or provide additional documents as required through the FundsCorner Customer portal itself.
17How do i check my loan outstanding balance?
You can get all the information about loan like payment schedule, interest rate, outstanding balance and other key information related information related to your loans through our FundsCorner Customer portal.