Urban Money

UGRO Capital Business Loan

UGRO Capital
4.5

U GRO Capital limited is a BSE and NSE listed, technology focused, small business lending platform. The company is focused on addressing capital needs of small businesses operating in select eight sectors by providing customized loan solutions.

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Interest Rate

Processing Fee

Rating

Loan Amount/Tenure

UGRO Capital Business loan Interest Rate

UGRO Capital

9% - 36%

Up to 4%

4.5

Up to ₹75L

Tenure(5 - 8 Years)

Details

Features and Benefits of UGRO Capital

UGRO Capital provides the following features and benefits to their borrowers who want to avail of business loans:

  • UGRO Capital offers an attractive rate of interest to the borrowers so that they can conveniently facilitate their business operation.
  • The UGRO Capital offers a flexible tenure on loans to businesses so that they can plan their repayment conveniently.
  • The UGRO capital is a technology-driven NBFC that aims to provide business solutions to small businesses by employing state-of-the-art technology to realise their organisational goals.
  • The UGRO Capital also offers a diverse range of schemes catering to the varying requirements of the SMEs and MSMEs

UGRO Capital Business Loan Overview

The UGRO Capital business platform provides financial aid to MSMEs and SMEs by aiding them financially to realise their business potential. This financial institution offers data-driven solutions augmented by statistical predictive models from diverse data sources. As mentioned earlier, this specialised SME lender caters explicitly to the eight major industries, which are further segmented into 35-sub sectors businesses that can benefit from sophisticated data-driven insights.

The interest on the business loans offered by the U GRO business loans generally ranges from 9%- 36% per annum. The interest offered to the businesses concerns the nature of the business requirements. The profile of the applicant leading the business is also meticulously assessed. The applicant interested in applying for UGRO Capital business loan shall refer below to get a complete picture.

UGRO Capital Business Loan Interest Rate

The Interest Rate model followed by UGRO Capital on business is as follows:

The UGRO Capital Business Loan interest rate varies from business to business. The financial institution may charge different interest rates from different businesses even if they manufacture similar products and services. The authority to determine the interest rate on the loan products offered to the customers lies exclusively to the Chief Revenue Officer and the Chief Financial Officer. The institution considers a diverse set of factors before computing the interest rate that the borrower will have to pay. The UGRO Capital Business Loan Interest Rate ranges from 9% per annum to 36% per annum.

Factors affecting UGRO Capital Business Loan Interest Rates

The following factors affect the UGRO Capital Business Loan Interest Rates:

  • UGRO Capital assesses the cost of the fund. The money required to fund the project plays an important role in determining the UGRO Capital Business Loan Interest rate. 
  • This specialised SME Lender also assesses the administrative cost of the project to compute the risk involved before investing in the project. 
  • UGRO Capital will also compare interest rates offered to the business from other financial institutions before determining the business loan interest rate. 
  • The finance provider also factors the applicant's relationship with the financial institution in determining the UGRO Capital Business Loan interest rates and approval. The applicant who shares a long-standing relationship with the specialised SME lender may avail of some deductions in the interest rates. 
  • UGRO Capital also evaluates the credit and default risk related to the product, as a higher interest rate might be levied on the products entitled as riskier investments. 
  • The bank also examines the repayment record history of the applicant. An applicant who defaults on their repayments might have to pay higher business loan interest rates. 
  • The bank also refers to the product's customer segment and the applicant's market standing. The lender also evaluates the industry trends to compute the UGRO Capital Business Loan Interest Rate.

UGRO Capital Business Loan Fees and charges

The Processing Fees charged to the applicant are associated with the services rendered to the customers. The beneficiary of the business loan can simply refer to the loan documents, as the bank officials mention these charges in the provided documents. The charges levied on the product are with respect to the exposure limit, loan product, geographical location, and customer segment. Here is a general overview of the charges levied on the business loan application:

Transaction  Charges 
Loan Applied  Upto 4% sanctioned loan amount (Non-refundable) 
*Foreclosure Charges 
  • 6% of the principal outstanding of a foreclosed loan (within a year of sanctioning of the loan) 
  • 5% of the principal outstanding pf a foreclosed loan
(within a year of sanctioning of the loan) 
PDC/ESC/NACH Bounce Charges (Per transaction)  Rs 750/- 
Swap Charges  Rs 1,000/- 
Change of Date in the EMI Repayment Cycle  Rs 1,000/-
Issuance of Duplicate Income Tax Certificate and No Objection Certificate (NOC)  Rs 500/0 (each) 
Adjustment in Terms of the Loan after first disbursement  2% of the Principal outstanding 
Duplicate Statement of Account  Rs 500/- 
Retrieval of Document  Rs 1,000/-
Cancellation charges on Loan Sum of Rs 20,000 and the rate of interest from the disbursal rate to the date of request cancellation 
Penal Charges  3% pm on the overdue instalment 

*It is to be noted that the charges on the foreclosure are subject to the guidelines established by the Reserve Bank of India.

Types of Schemes and their Features of UGRO Capital

UGRO Capital offers a diverse range of loan products to cater to the requirements of its customer base. This specialised SME lender offers the below-mentioned schemes that entail the following features:

Sathi Plus Scheme

The Sathi Plus scheme aims to provide loan products to businesses by allowing them to pledge collateral for the accessibility of the funds. Under this scheme, the businesses don't have to produce any income statement if the properties lie across 9 UGRO specified locations. The businesses can avail of a loan amount up to Rs 75 Lakhs. The scheme possesses the following features:

Rate of Interest  With Respect to the Business Requirements and Profile of the Applicant 
Nature of Loan  Secured (Pledging a Collateral is mandatory)  
Collateral  Loans are granted against self-owned properties 
Loan Amount  up to 75 Lakhs 
Repayment Tenure  Ranges from 60 to 90 months 
Age of the Business  3 Years (Minimum) 
Processing time  Within 6 Days (No GST Documentation Required) 

Eligibility Criteria to Avail of the Scheme

The businesses who want to avail of loan products under this scheme shall meet the following criteria:

  • The Business vintage should at least be three years. 
  • The businesses must produce bank statements for 6/12 months concerning the assessment program. 
  • The identified location of the collateral should be up to 150 Kms of branch locations.

Sanjeevani Loan Scheme

The Sanjeevani loan scheme has provided a digital avenue from which borrowers can avail of their financial requirements. Borrowers can enable this On-Tap MSME financing through the GeM Sahay mobile application. The scheme entails the disbursement of the funds required on a real-time basis within seconds of applying for the UGRO offers. This scheme includes the following features.

Interest Rate  *9% per annum - 36% per annum 
Loan Amount  upto Rs 5 Lakhs 
Repayment Tenure  Upto 120 Days 
Loan Disbursement  Within seconds of applying for the UGRO offer 
Flexible Interest Rates Essential service providers and Product Manufacturers
Processing Fee Zero hidden charges as the lending process is fully transparent 

*It is to be noted that the interest rates on the loan product are subject to the latest guidelines from the Reserve Bank of India.

How does the EMI calculation work for UGRO Capital Business loans

The UGRO Capital Interest Rate varies from one applicant to another according to the business profile of the applicant. As mentioned earlier, the financial institution assesses various internal and external factors to compute the interest rate on the loan product. An applicant can perform the EMI calculation for the business loan on UGRO capital after being aware of the interest rate on the loan product.

To compute the amount of EMIs on the business loan, the user can utilise various EMI calculators available in the market. These EMI calculators are free-to-use and easily accessible. They feature a straightforward interface where the user can easily calculate the EMI amount on the business loan. The applicant who wants to apply for UGRO Capital Business loan shall compute the EMI amount beforehand after getting the brief on the interest rate.

Comparison of UGRO Capital with Other Lenders

Nature of Financial Institution  Product  Distribution  Credit Appraisal Documentation  Turn-Around Time
UGRO Capital  Customised Loan products are offered with respect to the nature of the business and other financial and non-financial parameters  The distribution is omnichannel The approach to provide loan products is sector-specific  A mix of traditional and non-traditional sources. Some schemes offer the submission of documents digitally  4-5 Days 
Traditional NBFC  Loan against Property, unsecured loans Branch/DSA Led  Collateral/Bureau Score  Financial Statements, balance sheets, and Bank statement  15-20 Days 
Banks  Loan Against Property and supply chain financing  Branch Collateral/Bureau Score  Project report, financials and Bank statements 30-45 Days 

UGRO Capital Business Loan Customer Care Number

The UGRO Capital offers many avenues where the customer can easily reach out in case they have any queries about the business loan application process:

  • Queries Regarding Partnerships or any loan products: info@UGROcapital.com
  • Queries Related to Loan account: customercare@UGROcapital.com
  • Customer Care Number: +91-22-41821600

FAQs

From refinancing to reducing your interest, we have the answers right here.

Does UGRO Capital Provide business loans at the best rate?

The UGRO Capital business loan interest rate varies based on the nature of the business. The bank decides the final offered rate after assessing the many external and internal factors.

What is the interest rate of a business loan in UGRO Capital?

The UGRO Capital Business loan interest rate will be computed with respect to the business’s financial viability and the applicant’s profile. The bank executive also accesses the past relationship that the applicant shares with UGRO Capital.

What are the benefits UGRO Capital Provides on a business loan?

UGRO Capital is a financial institution that provides data-driven financial solutions and a diverse assortment of loan products to businesses to realise their business objectives.

Does UGRO Capital have a fixed interest rate on a business loan?

No, the UGRO Capital Business Loan interest rate varies from application to application. It is a possibility that similar businesses are offered varying interests on their business loan.

What are the documents required in UGRO Capital for a business loan?

The documents required to avail of a business loan from UGRO Capital vary from scheme to scheme. In case the applicant has applied for the Sathi plus scheme, then the applicant would be required to produce property documents. If they’re applying for the Sanjeevani scheme via the GeM Sahay application, they must submit their documents digitally.

Does UGRO Capital check for CIBIL Score for a business loan?

Yes, UGRO Capital does evaluate the CIBIL score of the applicant. If the applicant has previously defaulted on the repayment, this specialised SME lender might ask for a higher interest rate.

What is the maximum and minimum business loan amount I can get from UGRO Capital?

The loan amount is computed based on the business requirement. For example, the Saathi plus scheme offers loans in two segments. That is Rs 15 Lakhs- 50 Lakhs and Rs 50 Lakhs to Rs 75 Lakhs.

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