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Vyapar Mitra Business Loan

Business loan to lower- and middle-income segment and business enterprises having daily Cash Flows. Small business units with very limited access to organized funding and is dependent mainly on high interest loan from private money lenders. The product is offered for the inclusive growth the profile to maintain cash flow in business, business expansion or to pay suppliers upfront for stocks to avail cash discounts, meeting sudden spike in demand during festive season etc.

This product is for creditworthy and customers who may not be having the means to avail loan by pledging gold / property / other sources etc. and to existing customers of Muthoot Fincorp Ltd (MFL), to bridge their monetary gaps.

The product main feature is daily OR weekly repayment system where the business is run mostly on cash and generating income on a dialy / weekly basis.

Primary security is by way of hypothecation of the business stocks / book debts.

Min loan amount of 50 K and Maximum up to 10 lacs

Product Variants Product Category Description
Vyapar Mitra Secured Loan Vyapar Mitra loan is a short-term secured loan . This is a short-term working capital loan to small size entrepreneurs / business for meeting demands for stock purchase and improving businesses with a benefit of repaying the loan in Equated Daily Instalments (EDI) and in Equated Weekly Instalments (EWI).This loan is offered against the primary security of hypothecation of stock in trade.
Nirman Mitra Secured Loan Nirmaan Mitra is a Equated Daily Instalments (EDI) / Equated Weekly Instalments (EWI) short-term secured loan to the entrepreneurs / business deals in construction related business, hardware, plumbing etc. This product shall be primarily for meeting demands for stock purchase and improving the specific businesses related to construction.This loan is offered against the primary security of hypothecation of stock in trade.
Pharma Mitra Secured Loan Pharma Mitra is a Equated Daily Instalments (EDI) / Equated Weekly Instalments (EWI) short-term secured loan to the entrepreneurs / business deals in pharmaceutical business of retails and wholesale. This product shall be primarily for meeting demands for stock purchase and improving the specific businesses related to pharmaceuticals. This loan is offered against the primary security of hypothecation of stock in trade.

Product Highlights :

1 Convenience of Borrower to repay in Equated Daily or Weekly Instalment
2 Simple and Easy documentation for specific businesses like Pharma, Construction related
3 Speedy Loan Processing and Minimum turn around time for Loan Sanction and Disbursal
4 Competitive Rate of Interest
5 No repayment due on Holidays and Weekly off day
6 Quick Top Ups and additional funding post decent vintage of Existing Loan
7 No Foreclosure Charges
  Vyapar Mitra Business Loan NIRMAN Mitra Business Loan PHARMA Mitra Business Loan
Minimum Loan Amount Rs. 50,000
Maximum Loan Amount Rs. 10 Lakhs
Tenure Up to 3% + GST
Customer Profile Daily Installment (EDI) 104 Days 156 Days
Weekly Installment (EWI) 18 Weeks 36 Weeks
Customer Profile Self Employed
Not Applicable to NRI
Age of the Applicant 21 – 65 years at the time of loan origination
Pre-closure Charge NIL
ROI 24% – 28% per annum
Repayment Mechanism Repayment can be done via Digital and Manual cash collection

Documents Required

  • FOR SELF EMPLOYED

    BANK STATEMENT

    GST RETURN

    ITR

    KACHA RECORD

    SALES BILLS

    PURCHASE BILL

    LEDGERS

  • KYC CHECK LIST(Need to provide one proof from the given options under each category)
    ID PROOF: DL ELECTION ID CARD PAN CARD PASSPORT AADHAR  
    ADDRESS PROOF: DL ELECTION ID CARD PASSPORT AADHAR UTILITY BILL  
    AGE PROOF: DL PAN CARD PASSPORT AADHAR BIRTH CERTIFICATE SCHOOL / COLLEGE PASSING CERTIFICATE
    BUSINESS ADDRESS PROOF: UTILITY BILL LI POLICY COPY OF REGISTERED LEASE SHOP & ESTABLISHMENT CERTIFICATE PARTNERSHIP DEED
    UDYOG AADHAR BANK STATEMENT (NOT MORE THAN 3 MONTHS OLD) COI/MOA/AOA/FORM 32      
    BUSINESS EXISTENCE & STABILITY: PAN CARD UTILITY BILL SHOP & ESTABLISHMENT CERTIFICATE GST CERTIFICATE PARTNERSHIP DEED
    UDYOG AADHAR STATEMENT (NOT MORE THAN 3 MONTHS OLD) MOA/ AOA/FORM 32      
    SIGNATURE PROOF: PAN PASSPORT LETTER FOR EXISTING BANKER ON BANK LETTER HEAD      
    MFL would be having the discretion to demand any subsequent documents if required. On best effort basis, Where applicable.
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