Prefr Business Loan

• The business loans originated through Prefr are principally the term loans extended to underserved and unserved self-employed professionals.
• Prefr Business Loans are fast, as the turnaround time from application to disbursal is unusually lower as compared to traditional business loans.
• Prefr Credit maintains a completely digital platform that helps in enabling real-time approval of business loans, as well as the disbursement process.
• The end-to-end digital lending infrastructure incorporated by Prefr supports quick disbursals without any physical touchpoints.
• The simplified digital documentation offered by Prefr is seemingly advantageous for remotely operating self-employed professionals looking to secure fresh credit.
• The applicable rate of interest on Prefr Business Loans is higher as these loans remain unsecured in nature.

• The eligibility criteria for the Prefr Business Loan can be gauged through Prefr’s mobile application. The same mobile application further acts as the medium for the customer’s assessment and disbursal of the loan.
• Prefr claims a 3-step process for business loan disbursals, including checking the loan offer, uploading necessary documents, and setting up a repayment facility.
• Certain personal details would be required to assess the eligibility for business loans, such as the age of the applicant, credit score (if available).
• The loan amount extended to different consumers could vary due to dissimilar monthly/quarterly/yearly income, turnover, and the respective requirements.

Step 1: After successfully login in Prefr mobile application, you can check your loan eligibility within a minute by providing information of your income and employment.

Step 2: Subsequent to receiving the loan offer from Prefr, you can upload the required documents in the application which includes a clear selfie, PAN and a proof of address.

Step 3: Following this, you will be directed to set up a repayment facility in which a bank account number is required to facilitate auto-debits to oblige the EMIs.

• A credit score in the prime range, preferably over & above the mark of 750 can essentially help in securing a higher amount at a lower rate of interest.
• Business Owners and self-employed professionals with stable turnovers will be automatically favoured if they are new-to-credit.
• You can start a small-ticket business loan, utilise the proceeds for business requirements, repay the loan within the prescribed time frame, and ask for a higher amount. This can eventually help you build a lasting relationship with the lending partner as banks and NBFCs remain in a lookout to onboard customers that have thriving income either from salaries or self-employment.

All the business loan customers can contact Prefr through the designated customer care number: 040-48521334 and email: wecare@prefr.com for all the queries, complaints, feedback or suggestions with regard to Prefr Business Loan.