We help FMCG distributors by funding their retailers. If you have minimum 50 eleigible retailers and they have been doing business with you for minimum one year.
We help FMCG distributors by funding their retailers. If you have minimum 50 eleigible retailers and they have been doing business with you for minimum one year.
Yes, they can. MoneyWell arranges collateral-free, unsecured business credit. Apply to check if your retailers are eligible for a credit from MoneyWell.
Contact us to check if your retailers are eligible for a credit from MoneyWell.
MoneyWell arranges completely collateral-free, unsecured business loans to MSMEs. We presently cater to distributors, manufacturers, retailers, traders, and MSMEs. except those operating in the following catergories:
- Arms & ammunition dealers
- Financial service providers (NBFCs/ Other money lending companies)
- Shares/Bitcoins/Old coins trading or
- Other speculative activities
- Edible Oil business
- Tobacco Products
- Power
- Mining & Mining Products
- Bar/Liquor
- Film Producer
- Certain Telecom distributors
- Intelligence Agencies/ Private Security Firms
- Farmers
- Building Contractors (Builders)
Yes, you can get a business loan even without a registration proof but your business should have been functional for more than twelve months. Your eligibility for a business loan is also dependent on your credit score, the location of your business and some other parameters. Apply to check if you are eligible for a loan from MoneyWell.
Some of our most prevalent loan rejection scenarios are mentioned below
1) Age of Business : Your business should have been functional for more than 12 months in certain cases (Depending on your location) .For Example , If you are applying for a loan now , you should ideally have started your business 12 months before today to be eligible.
2) Low Business Turnover : Business turnover / revenue needs to be a minimum of 6 lakhs per annum in the current / past year.
3) Industry Of Business : MoneyWell does not process loans to companies belonging to few sectors mentioned in one of the above FAQs.
4) Existing Loan Commitments : You are already highly leveraged with your current loans as per your CIBIL status and may run into repayment risk . You are required to maintain a healthy minimum balance in your account to facilitate loan repayments (EMI payments) on time.
5) High Business Liabilities : Your business liabilities are much higher than your net income / net revenue.
If your company falls under any of these following categories, you can try re-applying for loan after these eligibility conditions are satisfied in the near future
Even if you have CC or OD limit, you can have the evaluation done (there are no charges for the evaluation) so that in case of contingency, you can get funds within 48 hours. Also, in case of exhaustion of CC/OD limit, our funds can be utilized.
Our products can act as a “standby source of funds” in the sense that you can use them for a month or so, or as and when needed.
It is a score assigned by Credit Bureaus, based on your business’s financial history. It gives us an idea about the credit worthiness of your business and plays a crucial role in determining interest rates.
Yes. We will check your CIBIL rating.
You can avail a loan of minimum ₹ 50,000 and maximum ₹ 1 crore for a maximum period of 36 months. The quantum is decided based on your business’s health, revenues and relationship with MoneyWell.
Our NBFC partners take PDCs as a security only in case of default. They will cancel and return the PDCs at your instruction once the cycle is over.