How to Apply IIFL Finance Business Loan – Complete Guide (Eligibility, Documents)

By Dhiraj
June 11, 2025

If you’re a business owner looking for quick funding, IIFL Finance Ltd. offers flexible business loans with easy eligibility. Here’s everything you need to know in simple terms:

📌 Quick Eligibility Checklist

Factor	Requirement
Age	24 – 65 years
CIBIL Score	700+
Loan Tenure	12 – 36 months
Max Loan Amount	₹50 Lakhs
First-Time Borrowers	Up to ₹10 Lakhs
Credit Enquiries (Last 6 Months)	Max 20 (USL) & 30 (Total)
Bank Turnover (BTO)	Min 70% of declared turnover
Credit Card Usage	Up to 98% allowed

💰 How Loan Amount is Decided?

IIFL Finance calculates your loan amount based on:

✔ Average Bank Balance (ABB) – Up to ₹30 Lakhs
✔ GST Turnover – Up to ₹35 Lakhs
✔ DSCR (Debt Repayment Capacity) – Up to ₹75 Lakhs

Final Limit: Max ₹50 Lakhs (whichever is lower).

📊 Business Financial Conditions

1. Existing Loans & Debt Burden

Unsecured Loans (USL) Outstanding – Max 20% (15% if high risk).
Total Loan Burden (Overall OS):
- Traders – Max 60% of turnover
- Manufacturers/Service Providers – Max 80%

2. Income vs EMI Affordability

Bank Balance to EMI Ratio – At least 1x (your bank balance should cover EMI).
Annual Obligations (AO) vs Turnover (TO) –
- Normal Profile: Max 20%
- Caution Profile: Max 12.5%

📝 Documents Required

KYC – PAN, Aadhaar, Address Proof
Business Proof – GST, Shop Act License, Udyam Certificate
Bank Statements – Last 6-12 months
Income Proof – ITR (if applicable), GST Returns
Loan Repayment History (if any existing loans)

🔄 How to Apply?

Check Eligibility – Match your profile with the criteria above.
Gather Documents – Keep financial & business papers ready.
Apply Online/Offline – Visit IIFL Finance website or branch.
Get Approval – Quick verification & disbursal in 2-5 days.

💡 Pro Tips for Approval

✔ Maintain a CIBIL score of 700+.
✔ Keep bank turnover consistent (min 70% matching).
✔ Avoid too many loan enquiries in 6 months.
✔ If rejected, check for errors in CIBIL report.