FAQ
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General

How quickly can I get loan for my business?

We at Starfinserv follow an evaluation process. After the evaluation process is through and the eligibility criteria are met, the loan is processed in a span of 5 working days. And in cases which involve customer availability for completing a field investigation or title search and valuation of a property, within 25 days. All loan approvals are at the sole discretion of the institution.

What documents need to be provided for a Business Loan?

The prospective client must provide the following:

  • Completed Loan Application form
  • Photo ID
  • Last (3) most recent company audited financial statements
  • Last (3) most recent income tax returns/assessment orders (personal + Company)
  • Last (3) most recent, consecutive months of operating bank account statements
  • Last (3) most recent, consecutive months of credit card processing statements
  • Original Title Deeds of the property to be mortgaged
  • Valuation report from the approved individual
  • Guarantors Consent Letter

Are there any application fees?

Yes we do have application fees. Do provide the details of the loan required to info@starfinserv.com or reach us at +91-40-23555101 and we can provide the details.

How quickly can I get loan for my business?

We at Starfinserv follow an evaluation process. After the evaluation process is through and the eligibility criteria are met, the loan is processed in a span of 5 working days.

Can additional funding be provided for my business at a later stage?

Yes we do! This involves another round of screening and evaluation based on previous success rate. To know more, write to info@starfinserv.com or reach us at +91-40-23555101

What are the loan tenure options for Business Loan?

You can repay your loan over a period of 12 to 24 months

What security do I need to provide to get a Business Loan?

To obtain the loan, one has to provide any movable or immovable property / assets as security or collateral.

What property can be considered as collateral?

You can provide your self-occupied Residential or Commercial property (Shops and Offices) as collateral.

How much loan can I get as a Business Loan?

You can a get the business loan from INR 1,00,000 to INR 25,00,000 depending on your income/revenue, repayment capacity and respective location product cap.

How do I repay my Business Loan?

You can repay the Business Loan in equated monthly installments (EMIs). The loan can be paid through post-dated cheques or through standing instructions to debit your bank account with the EMI amount.

Can I repay the loan earlier for Business Loan?

Yes, you can choose to repay your loan any time after 6 months of taking the loan and after you have paid 6 EMIs. Please note loan can be foreclosed by providing a bank's demand draft / banker's cheque. Kindly note that cash or personal cheque will not be accepted for loan repayment against full closure/matured loan closure payment.

What will be done with the postdated cheques if I request to change the mode of repayment/ account for my Business Loan?

Post Dated Cheques (PDCs) / Security Cheques submitted towards Business Loan repayment that have not been en-cashed, will be defaced and retained. In case, you wish to have your old Post Dated Cheques (PDCs) / Security Cheques to be returned to you, kindly submit a request within 45 days from the date of application to make a change in repayment instructions. In case, we do not hear from you within the stipulated period, the defaced cheques will be destroyed.

How can I change the mode of repayment / account for my Business Loan?

In the event that you wish to change the mode of repayment / bank account for your Business Loan repayment, you may visit our office and submit your request with the revised account mandate / instructions.