1) Why should I use Ashwini finance group?
Get credit Evaluation done and instant loans through our NBFC and use it to:
2) What are the payment options available to me?
Our Group NBFC offers the options of monthly, quarterly, half-yearly as per their terms and conditions.
3) What would be the duration of loan?
We AFPL loans with durations anywhere between 6 months to 4 years.
4) On what basis the sanctioned limit will be determined?
The sanctioned limit will be determined based on your revenue/sales and networth.
5) Are there any hidden charges?
There are no hidden charges.
6) Are there any pre-closure charges?
Yes we do have pre closure charges. i.e 4%. Its vary for case to case.
7) How secure is my information?
For AFPL group, data security is of utmost priority. All of your data is kept strictly confidential.
8) Why should I arrange loans through AFPL group if I have OD or CC limit?
You should choose AFPL group NBFC because credit evaluations, loan disbursements are done quickly without tedious papers.
9) Is a AFPL loan right for my business?
We help business by providing short term, flexible loans in a simple and efficient manner. If you run a small or medium enterprise
with frequent working capital needs, a AFPL loan will quickly provide you the necessary funds to manage cash flow.
10) How much can I borrow and for how long?
AFPL offers loans ranging from 3 lakh – 1 crores, with terms between 6 months -42 months.
11) How much does it cost?
Typically, our rates start with 12% per annum with a processing fees.
12) How do I repay a AFPL loan?
We offer loan products with flexible repayment plans, so you can choose what makes sense for your business.
Loans against receivables can be paid back in a single “bullet” instalments at maturity,
While unsecured loans are repayable via EMI’s. All repayments can be made either via NACH, Google pay, NEFT, RTGS ,cash or debit card.
13) Can I repay my loan before the due date?
Yes, we are having availability of this features.
14) What kind of business does AFPL lend to?
We work with small & medium enterprises across industries, including e-commerce, textile & apparel, healthcare, auto and engineering,
food processing, software, facilitate management, and professional services.
Our borrowers are typically fast growing SMEs with one or more well-reputed clients ( e.g. MNCs, large E-commerce players, publicly listed indian corporates).
15) How do I find out if I’m eligible?
The eligibility for our loans varies from product to product. Visit our product pages of your choice to read a defined description of the eligibility criteria for the product.
16) My business is less than 3 years old. Can I still get a loan from AFPL?
Yes. We actively support early-stage businesses led by capable and driven entrepreneurs. Unlike most banks and NBFCs today, we are happy to work with companies
that have been operational for less than 2-2.5 years, so long as they have strong management and a good financial track record.
17) I have been denied by my bank before. Can I still get a loan from AFPL?
Yes. Our approach to lending evaluates SMEs in a very different way from banks. Rather than focussing on traditional factors such as collateral such as property.
We look at the strength of your cash flows.
18) What is the restructuring scheme approved by RBI and its purpose?
RBI announced one time restructuring scheme for lenders amid the on going COVID crisis which is hitting business hard. On the basis of the framework and
regulatory guidelines issued by the RBI, we have framed a policy for the restructuring of SME and consumer loans in our portfolio that have been impacted
due to the covid-19 pandemic. This is to ensure that the terms of the loan are restructured so as to make the loan serviceable.
19) Who is eligible for the restructuring process?
Individuals and entities that are classified as standards, but not in default for more than 30 days with the lender as on March 1, 2020 and continue to remain
as standard across all its loans facilities till date are eligible for restructuring.
20) What tenure can be given under the restructuring process?
Tenure can be extendable from the end of the loan maturity date as per the original repayment schedule of the loan to:
21) Is there a minimum outstanding requirement for availing the restructuring facility?
Yes, loan can be restructured but subject to following minimum stipulations.
22) How to apply for a restructure process?
The restructuring process shall be initiated by calling following the request/ application from the borrower. Borrower could place a request by calling
the relationship manager from 9 to 6 on any working day.
23) Which of AFPL products are covered for the restructuring process?
MSME borrower products: term finance, banking surrogate, FAST loans , Merchant cash, Advance, School Loans. Loans to Professionals,
Supply Chain Finance ( Pay Later, Invoice Finance, Franchise Finance) , tax Loans, Construction Equipment’s etc.
24) Will there be any processing fees or changes if the loan is restructured ?
Yes, a document fee will be levied if the loan is restructured.
25) Whether all co-applicants are required to sign the revised restructuring agreement, like the original loan agreement?
Yes, all co-applicants are required to sign the revised agreement too.
26) Will borrowers against whom AFPL Services has initiated legal recourse for recovery of dues be eligible for restructuring?
No, restructure will not be allowed for such borrowers.
27) Whether loan taken after 1st march , 2020 but affected by COVID-19 pandemic be eligible for restructure?
No, only those loans taken before March 2020 are eligible for restructure.
28) Is restructuring based on foreseeable future income loss eligible?
No, loss should be due to closure of business, job loss and reduces activity of business during lockdown.
29) Can a loan already restructured, be eligible for the current restructure process?
No, a loan already restructured is not eligible.
30) Weather customers opted for a second moratorium eligible for restructure process?
No, those who opted for a second moratorium cannot opt for the restructuring process.