What does Blacksoil Capital lend?

Blacksoil Capital writes overdraft / cash credit, purchase invoice discounting, sales invoice discounting, secured term loan, vendor financing, venture debt and 1 further products. Across those, observed facilities run ₹2 cr to ₹40 cr.

What ticket size does Blacksoil Capital offer?

Facilities observed on live transactions run from ₹2 cr to ₹40 cr. The band differs by product, so the figure that applies to you depends on which facility you are asking for.

What rate does Blacksoil Capital charge?

Rates observed on live transactions fall between 13% and 16.2% a year. Tenures run 12 to 18 months. These are observed figures, not a quote, and the rate you are offered depends on your file.

How long does Blacksoil Capital take to disburse?

About 106 days from application to disbursal at the median, where the file is complete. Missing financials, unresolved security or a pending no-objection from an existing lender are what usually stretch it.

What are Blacksoil Capital's eligibility criteria?

The first screen is the bureau: a borrower CIBIL of at least 650. Revenue, leverage and debt-service thresholds apply on top and vary by product. The full credit box for each product is set out on this page.

Lender profile

Blacksoil Capital business loans

Blacksoil Capital is on Recur Club's lender panel, writing overdraft / cash credit, purchase invoice discounting, sales invoice discounting and 4 other products. Observed tickets run ₹2 cr to ₹40 cr, priced between 13% and 16.2%. Median turnaround from application to disbursal is about 106 days.

✓Tickets from ₹2 Cr – ₹40 Cr across 7 products
✓Indicative pricing 13% – 16.2%, as quoted on live transactions
✓Around 106 days from application to disbursal when the file is clean
✓We check your fit against every lender on the panel, not just this one

Check your fit →See a typical term sheet

Products live

₹2.5 Cr

Median sanction

106

Days median turnaround

Sanction letters read

— The screen your file has to clear

The screen your file has to clear

What is checked before anything else, and applies to every product below.

Rejects

Negative sector for Purchase Invoice Discounting: Engineering, Procurement, and Construction (EPC) — marked Critical importance
Negative sector for Vendor Financing: Engineering, Procurement, and Construction (EPC) — marked Critical importance
Negative sector for Distributor Financing: Engineering, Procurement, and Construction (EPC) — marked Critical importance
Infrastructure removed from approved Company Sector list for Purchase Invoice Discounting — no longer an eligible sector

22 more ▾

Infrastructure removed from approved Company Sector list for Vendor Financing — no longer an eligible sector
Infrastructure removed from approved Company Sector list for Distributor Financing — no longer an eligible sector
"As per what they are asking, it is not possible from our side" on Riddhi Steel's requested terms, though open to a final call with Gaurav/Vatsal if some flexibility is shown
Lender stated: cannot do ₹10 crore without drawdown at 11% rate, 0.25% processing fee, with no documentation or visit charges — 'not possible from our side'
Is not keen to take it forward (declined; detailed reasons awaited)
Client needs purchase invoice discounting for Reliance Industries which doesn't accept lender payments, requiring a WCDL product that the lender cannot provide
Lender not willing to top up, despite having indicated earlier they would
Won't do 36 months
EPC is a negative segment for us; hence dropped
Have rejected Yulu in the past
Infrastructure removed from approved Company Sector list for Distributor Financing — no longer an eligible sector (×2
latest )
Negative sector for Distributor Financing: Engineering, Procurement, and Construction (EPC) — marked Critical importance (×2
latest )
Infrastructure removed from approved Company Sector list for Purchase Invoice Discounting — no longer an eligible sector (×1
latest )
Negative sector for Purchase Invoice Discounting: Engineering, Procurement, and Construction (EPC) — marked Critical importance (×1
latest )
"As per what they are asking, it is not possible from our side" on Riddhi Steel's requested terms, though open to a final call with Gaurav/Vatsal if some flexibility is shown (×1
latest )
Lender stated: cannot do ₹10 crore without drawdown at 11% rate, 0.25% processing fee, with no documentation or visit charges — 'not possible from our side' (×1
latest )

Wins

Can consider second-charge deals but needs strong cash flow support
Krushant's team focuses more on new-age businesses
Moving toward larger ticket sizes, with Caspian team operating more independently on smaller loans
Not keen to do deals at second charge

12 more ▾

Very selective on commodity sectors like steel due to market oversupply of commodity deals and price fluctuations
…more in playbook
Can consider second-charge deals but needs strong cash flow support
Krushant's team focuses more on new-age businesses
Moving toward larger ticket sizes, with Caspian team operating more independently on smaller loans
Not keen to do deals at second charge
Very selective on commodity sectors like steel due to market oversupply of commodity deals and price fluctuations
Looking to diversify further into SMEs under supply chain financing
Focus is on building a granular book of profitable companies in supply chain products
Being selective on purchase invoice discounting deals given strong existing deal flow
prefers working with partners that have high conversion
Distributor Financing restricted to Private Limited and Public company types

Behaviour & gates

Borrower: CIBIL ≥650
age ≥2y (varies by product)
pan-India (varies by product)
avoid: Engineering, Procurement, and Construction (EPC) (varies by product)
sector-agnostic (55 sectors — full list in data JSON) (varies by product)
Private Limited, Public (varies by product)

25 more ▾

Financials: runway ≥6mo (secured term loan, venture debt, working capital demand loan only)
rev ≥₹30cr (secured term loan, venture debt, working capital demand loan)
rev ≥₹100cr (distributor financing, purchase invoice discounting, vendor financing)
TOL/adjusted tangible net worth ≤5
debt/EBITDA ≤4
networth ≥₹10cr (secured term loan, venture debt, working capital demand loan)
networth ≥₹5cr (distributor financing, purchase invoice discounting, vendor financing)
debt/networth ≤4
DSCR ≥1
Deal: rate 13–18% (range across products — see matrix)
ticket ₹2–80cr (range across products — see matrix)
tenure 12–36mo (range across products — see matrix)
no PEP
Security (observed): FD margin 10–15% (100%)
Personal Guarantee Of Promoters / Directors / Property Owner (100%)
1st/pari-passu charge on current assets (59%)
median ticket ₹10cr
median rate 14%
median turnaround 106d
Security asked in : FD margin 20–30% (×9), Personal Guarantee Of Promoters/Directors (×8), 1st/pari-passu charge on current assets (×8), Fixed Deposit <5% (×8)
Security asked in : 1st/pari-passu charge on current assets (×24), Personal Guarantee Of Promoters/Directors (×19), FD margin 10–15% (×11), FD margin 5–10% (×8)
Security asked in 2026: FD margin 10–15% (×29), Personal Guarantee Of Promoters / Directors / Property Owner (×29), 1st/pari-passu charge on current assets (×17), FD margin 5–10% (×4)
share → in-principle approval (initial interest): ≈82d
in-principle approval → sanction (underwriting): ≈44d
sanction → disburse (closing): ≈17d

— Products & indicative terms

What Blacksoil Capital lends, and on what terms

What has actually been offered on live transactions, not brochure numbers. Treat them as the band you are likely to be quoted inside, not a promise. Open a row for that product's credit box.

Product	Ticket	Pricing	Tenure
Purchase Invoice Discounting▾▴ Turnaround ~142d Rejects Negative sectors: Engineering, Procurement, and Construction (EPC) Wins Director overdue: 0.001 INR Cr Director CIBIL: 650 Min EBITDA (₹cr): 0 Min revenue (₹cr): 100 13 more ▾ ▴ Debt / EBITDA: 4 Min Networth: 5 INR Cr Debt / Net worth: 4 Debt Service Coverage Ratio: 1 Offered terms (past deals): rate 13–13–13% ₹2–2–2 Cr 12–12–12 mo Turnaround: ≈142 days (share→disburse) Asks for Other (×5) — e.g. BlackSoil (via Naushad) requested data on the Shriram overdues, to be provided b Asks for Term sheet (×5) — e.g. KYC requirements include factory/office images and company KYC documentation Asks for Audited financials (×2) — e.g. Will only put the deal up for approval once audited financials are received Asks for Provisional financials (×2) — e.g. Lender requires financial statements for last two years with audit report and Pr Asks for Legal / KYC (×1) — e.g. Lender will share the PF (pricing/facility note) here Behaviour & gates Min tenure (mo): 12 Months Min ticket (₹cr): 2 Max tenure (mo): 12 Months Min rate (%): 14 Politically Exposed Person: No Max ticket (₹cr): 50 27 more ▾ ▴ Security required: ['Fixed Deposit 10 - 15%'] Max rate (%): 18 rate — stated 14–18%, actually offered 13–13% → priced/sized below stated floor Amount — stated 2–50 Cr, actually offered 2–2 Cr → within stated band Tenure — stated 12–12 mo, actually offered 12–12 mo → within stated band Is not keen to take it forward (declined; detailed reasons awaited) (×1 latest ) Unable to proceed as the company's net worth (₹21.77 Cr) was lower than its debt obligations (₹41.95 Cr) (×1 latest ) Client needs purchase invoice discounting for Reliance Industries which doesn't accept lender payments, requiring a WCDL product that the lender cannot provide (×1 latest ) Passed on the deal due to rate non-alignment (×1 latest ) Lender had evaluated this deal earlier and expressed low comfort with it (×1 latest ) Not keen to look at Steel sector companies right now (×1 latest ) Suggested product structure is drop line purchase invoice discounting (×1 latest ) Wary of companies carrying high debt (×1 latest ) Wary of companies with stretched receivables (×1 latest ) Adithya (BlackSoil) to provide status update by end of day BlackSoil (Manish Mishra) stated the commercial terms already shared are their best and final offer, with no scope for further revision Blacksoil is okay for ₹5 Cr AICA portal access covers only the Pvt Ltd firm; partnership-firm documents for group entities are shared via drive link/PDF summary instead	₹2 cr	13%	12 mo
Sales Invoice Discounting▾▴ Turnaround ~90d Behaviour & gates Offered terms (past deals): rate 16.2–16.2–16.2% ₹5–5–5 Cr 12–12–12 mo Turnaround: ≈90 days (share→disburse) Keen to evaluate, but team is tied up with Sep disbursements; will pick up in Oct	₹5 cr	16.2%	12 mo
Secured Term Loan▾▴ Turnaround ~106d Wins Director overdue: 0.001 INR Cr Director CIBIL: 650 States: pan-India Min company age (yr): 2 Years 20 more ▾ ▴ Min Runway: 6 Months Min revenue (₹cr): 30 Max Runway: None Months Debt / EBITDA: 4 Max revenue (₹cr): None Max Networth: None INR Cr Min Networth: 10 INR Cr Debt / Net worth: 4 Debt Service Coverage Ratio: 1 Offered terms (past deals): rate 14–14–14% ₹40–40–40 Cr 18–18–18 mo Turnaround: ≈106 days (share→disburse) Asks for Receivable/inventory ageing (×2) — e.g. Requested debt profile, trade receivables and payables ageing as of June 30, 202 Asks for Term sheet (×2) — e.g. Will share data requirements before proceeding further Asks for Bank statements (×1) — e.g. Bank statements for all accounts requested Asks for Cap table / equity (×1) — e.g. Requested subsidiary acquisition details and equity raise history Asks for MIS (×1) — e.g. Requested consolidated financial statements, monthly MIS, and revenue breakdowns Asks for Other (×1) — e.g. Lender asked for a university discounting model as part of the review Asks for Provisional financials (×1) — e.g. Reconciliation of balance sheet loss vs P&L loss requested, along with provision Behaviour & gates Min tenure (mo): 12 Months Min ticket (₹cr): 2 Max tenure (mo): 36 Months Min rate (%): 13 Politically Exposed Person: No Max ticket (₹cr): 80 31 more ▾ ▴ Security required ['Charge On Current Assets - Pari Passu First Charge']['Charge On Current Assets - Second Charge''Pledge Of Shares <= 51%''Escrow Of Cashflows']['Charge On Current Assets - Second Charge''Pledge Of Shares <= 51%'] Max rate (%): 17 rate — stated 13–17%, actually offered 14–14% → within stated band Amount — stated 2–80 Cr, actually offered 40–40 Cr → within stated band Tenure — stated 12–36 mo, actually offered 18–18 mo → within stated band Lender not willing to top up, despite having indicated earlier they would (×1 latest ) Directly connected to the company; rejected in Jan/Feb due to unsatisfactory business performance and high loan levels (×1 latest ) Won't do 36 months (×1 latest ) Not pursuing this deal since it is a 2nd charge facility (×1 latest ) Have looked at this deal in the past and passed (×1 latest ) EPC is a negative segment for us; hence dropped (×1 latest ) Have rejected Yulu in the past (×1 latest ) Team is willing to try proceeding without the target company's financials if the company won't share them (×1 latest ) Not keen to work on a top-up right now (×1 latest ) Not very keen on the sector currently (×1 latest ) Blacksoil not very keen on the sector; would consider it only exceptionally and treat as low priority (×1 latest ) Generally does not do deals with 2nd charge (×1 latest ) Prefers VC-backed companies (×1 latest )	₹40 cr	14%	18 mo

Also offered, with no terms observed yet: Overdraft / Cash Credit, Vendor Financing, Venture Debt, Working Capital Demand Loan.

— Typical term sheet

What a sanction from Blacksoil Capital actually looks like

Reconstructed from real sanction letters. Small samples, so read them as observed rather than as a rule.

Specimen sanction

Representative of the median file. Your actual terms will move with rating, security cover and relationship.

Indicative

How often each clause appears

Share of the 5 sanction letters carrying the clause.

No further borrowing without lender consent20%

— Common questions

What borrowers ask about Blacksoil Capital

What does Blacksoil Capital lend?: Blacksoil Capital writes overdraft / cash credit, purchase invoice discounting, sales invoice discounting, secured term loan, vendor financing, venture debt and 1 further products. Across those, observed facilities run ₹2 cr to ₹40 cr.
What ticket size does Blacksoil Capital offer?: Facilities observed on live transactions run from ₹2 cr to ₹40 cr. The band differs by product, so the figure that applies to you depends on which facility you are asking for.
What rate does Blacksoil Capital charge?: Rates observed on live transactions fall between 13% and 16.2% a year. Tenures run 12 to 18 months. These are observed figures, not a quote, and the rate you are offered depends on your file.
How long does Blacksoil Capital take to disburse?: About 106 days from application to disbursal at the median, where the file is complete. Missing financials, unresolved security or a pending no-objection from an existing lender are what usually stretch it.
What are Blacksoil Capital's eligibility criteria?: The first screen is the bureau: a borrower CIBIL of at least 650. Revenue, leverage and debt-service thresholds apply on top and vary by product. The full credit box for each product is set out on this page.

Next steps after Blacksoil Capital

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Last updated 29 September 2026

Lender intelligence dossier - screening gates, per-product terms and sanction observations, derived from lender policy documents and observed transactions. Figures are observed from a sample and are not an offer, a commitment, or a statement of Blacksoil Capital's current policy. Terms are set by the lender at the time of sanction.