Indifi Technologies

Choosing the right product

• A working capital loan fits running costs such as stock, salaries and vendor payments.
• A term loan fits a planned purchase such as equipment, a store fit-out or an office expansion.
• A merchant cash advance fits a business with many card or digital payments through a POS machine, since repayment follows those sales.
• An unsecured business loan fits a business with no collateral that wants a loan based on its financials.

How applications work

• Apply online with your business details and the amount you need.
• Expect KYC for the business and its promoters, including Aadhaar and an OTP sent to your mobile.
• Keep ready your PAN, GST registration, recent bank statements and GST returns. Income tax returns are needed above a stated turnover level.

How selection works

• Indifi's lending partners make the decision and set the terms, not Indifi itself.
• Expect the partner to check bank transactions, GST records, turnover and your credit bureau report.
• The offer shown on the site is indicative only. Read the final offer from the partner before accepting.

What affects approval

• The business vintage, turnover and consistent positive cash flow.
• A valid GST registration, which most products require.
• A CIBIL score; the term loan page says a higher score improves the chances.
• A missed payment on an existing loan, since lenders must report loan performance to the credit bureaus every month.

Indifi Technologies is a technology-driven lending platform based in Gurugram. It connects small businesses across India with a network of lending partners, and a founder can start a business loan application online on its website.

How the loans work

Indifi does not lend directly. It takes one application and passes it to its lending partners, which review the business and make the offer. Indifi says that network includes its own RBI-registered NBFC. Offers are indicative and not binding, and the final offer depends on each lender's credit due diligence. The interest rate, tenure and loan amount are therefore set by whichever partner approves the application.

The whole process runs online and does not need a branch visit. You enter your business details, complete KYC and upload your documents. The site describes fast disbursal, but the timing depends on eligibility, document checks and lender approval, and it varies by lender and by business.

Products

Indifi offers four types of business loan through its partners. A working capital loan covers running costs such as stock, salaries, vendor payments and rent. A term loan gives a fixed lump sum that is repaid in equal monthly instalments, which suits equipment, expansion or hiring. Its unsecured term loans need no collateral. A merchant cash advance suits businesses that take many card or digital payments through a POS machine, because repayment is made from those payments each day. An unsecured business loan needs no collateral and no property documents, and the amount is based on the business financials and credit profile.

The pages do not give one consistent tenure for every product, so the lending partner's offer is the figure to rely on.

Who can apply

Indifi describes its audience as MSMEs and small businesses. The requirements change by product and by lender. Across the pages, the common points are a minimum operating history that the product page states, a valid GST registration for most products, KYC for the business and its promoters, recent bank statements, and income tax returns when annual turnover is above a stated level. Promoters must also meet a minimum age. The annual turnover needed is set by each lending partner.

The site lists the sectors it serves as retail and e-commerce, manufacturing, trading, services, food and hospitality, construction and technology. Eligibility is assessed by the partner, so a listed sector does not guarantee approval.

How a founder applies

Start from the Indifi website, enter the business details and the amount needed, verify your mobile number, and upload the documents. The site sends a one-time password to the mobile number to verify it, so keep that number in use while the file is open. The partners then review the file. A loan that is not repaid on time can affect the business credit record, so the monthly instalment should be planned before you borrow.

Who runs it

Indifi was built for small businesses that have little or no access to bank finance, either because they lack collateral or because they have no finance data trail. The company says it uses data from several sources to judge a business's credit, and that it takes the relevant applications to multiple lenders, which increases the chances of a loan.

The About page profiles the co-founders and the chief executive. It describes their backgrounds as covering venture capital, risk and credit underwriting for small businesses, and banking and payments. The page presents the company as a way to make credit simple and timely for businesses that banks often pass over, which is the reason the lending platform exists.

Locations

Indifi is headquartered in Gurugram and says it serves businesses in hundreds of cities across India. The application is online, and no branch visit is needed.