Hero FinCorp is a Non-Banking Financial Company (NBFC) that provides consumer finance and commercial lending services. The interest rate for business loans offered by the NBFC can go up to 26% per annum and may vary depending on the applicant's profile and business needs. Hero FinCorp offers both secured and unsecured business loans, as well as Bill Discounting credit facilities, catering to individuals, SMEs, MSMEs, and large-sized companies and enterprises.
Hero FinCorp provides both secured and unsecured business loans for individuals, small businesses, and Small and Medium-Sized Enterprises (SMEs) with interest rates up to 26% per annum. These loans can be availed without collateral, serving various business needs such as expansion, working capital requirements, improving cash flow, purchasing equipment or machinery, and more.
Hero FinCorp Business Loan Highlights |
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|---|---|
| Interest Rate | Up to 26% p.a. – Depends on business requirements |
| Credit Score | Higher is the CIBIL score, more are the chances of approval |
| Collateral / Security |
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| Loan Amount |
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| Eligible Entities | Traders, Wholesalers, Manufacturers, Retailers, Distributors or B2B service providers, Public and Private firms, Sole Proprietorships and Self-employed professionals |
| Repayment Tenure |
Up to 60 months (Unsecured Business Loan) Up to 36 months (Secured Business Loan) |
*Terms and conditions apply.
| Table of Contents | ||
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| Interest Rate | ||
| Fees & Charges | ||
| Eligibility Criteria for Business Loan | ||
| Documents Required | ||
| FAQs | ||
Also read: Best Business Loan Interest Rate
| Types of Charges | Fees | |
|---|---|---|
| Repayment Swap Charges | Rs. 5000 | |
| Loan Rescheduling Charges | Rs. 5000 | |
| Bounce Charges (per transaction) | Rs. 5000 | |
| Default Interest | 2% of loan overdue amount per month | |
| Account Statement/ Amortization Schedule | NIL | |
| Foreclosure Letter Issuance | Rs. 1000 | |
| Pre-payment Charges |
Charges will be applicable as mentioned in the sanction letter |
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Also read: Best Business Loan EMI Calculator
Also read: Best Business Loan Eligibility
Also Read : Best Business Loan Documents Required
SME loans are the funding support given to Small and Medium Enterprises to help them grow and expand their business. These loans are used to cover everyday expenses, manage money coming in and going out, and fulfill other business needs.
No, there is no impact on either your CIBIL score or credit history.
Also read: Best Business Loan EMI Calculator
You can pay back the loan in monthly installments (EMIs) or through cash, NACH (National Automated Clearing House), PDC (Post-Dated Cheques), ECS (Electronic Clearing Service), and other methods.
The repayment period for unsecured business loans from HerofinCorp can extend up to 60 months. However, for secured loans, the repayment tenure is up to 3 years.
The highest loan amount available for borrowing is up to Rs. 45 lakh.
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