What does Incred Financial lend?

Incred Financial writes cashflow financing, operating lease, overdraft / cash credit, purchase invoice discounting, sales invoice discounting, secured term loan and 2 further products. Across those, observed facilities run ₹10 lakh to ₹40 cr.

What ticket size does Incred Financial offer?

Facilities observed on live transactions run from ₹10 lakh 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 Incred Financial charge?

Rates observed on live transactions fall between 12% and 28% a year. Tenures run 6 to 36 months. These are observed figures, not a quote, and the rate you are offered depends on your file.

How long does Incred Financial take to disburse?

About 7 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 Incred Financial'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

Incred Financial business loans

Incred Financial is on Recur Club's lender panel, writing cashflow financing, operating lease, overdraft / cash credit and 5 other products. Observed tickets run ₹10 lakh to ₹40 cr, priced between 12% and 28%. Median turnaround from application to disbursal is about 7 days.

✓Tickets from ₹10 L – ₹40 Cr across 12 products
✓Indicative pricing 12% – 28%, as quoted on live transactions
✓Around 7 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

₹1 Cr

Median sanction

Days median turnaround

Sanction letters read

— Which arm you land with

2 lenders under one brand

They share a screening philosophy but not a book. Which one your file goes to depends on what you are borrowing against.

Incred Financial Services Limited

Rejects

Will not be the largest lender in a deal
Has stopped doing purchase invoice discounting
Instamart business is not covered — only Swiggy Restaurant business is eligible
Bureau Reject

18 more ▾

Not comfortable with segment due to exposure to government receivables; dropped
Would pass on any direct exposure to this company, previously an existing customer under vendor finance
Can do factoring but not purchase invoice discounting (purchase invoice discounting)
No go on coal mining sector
No go where there is a political connection in the promoter's family
ED case going on. Negative for lending
Will pass. Due to compliance reason can't fund pre-revenue companies
Pass - lender is planning to fund in the next quarter
Not okay with company raising any debt right now
They do not do large corporates in the trading sector
Won't increase the loan amount given a poor bureau with past delinquencies
Bureau Reject (×1)
Has stopped doing purchase invoice discounting (×1)
Instamart business is not covered — only Swiggy Restaurant business is eligible (×1)
Not eligible for the loan — no digital credits seen in the shared bank statement (×1)
We can't proceed with the case: poor bureau, low business credits, low ABB (average bank balance) (×1)
Will not be the largest lender in a deal (×1)
Won't increase the loan amount given a poor bureau with past delinquencies (×1)

Wins

Prefers mature, profitable, understandable SME businesses with solid financials over startups
startups considered only if profitable or near-profitable
Avoids volatile, unpredictable-revenue sectors such as media and speculative ventures
favors manufacturing, services and stable cash-flow businesses

10 more ▾

Requires personal guarantee (personal guarantee) from the promoter (Mr. Pankaj Desai)
Open to evaluating a linked GST entity under the same PAN (e.g., PrathFit India) to enhance the sanction amount
Low focus on funding loss-making startups
…more in playbook
Prefers mature, profitable, understandable SME businesses with solid financials over startups
startups considered only if profitable or near-profitable
Avoids volatile, unpredictable-revenue sectors such as media and speculative ventures
favors manufacturing, services and stable cash-flow businesses
Requires personal guarantee (personal guarantee) from the promoter (Mr. Pankaj Desai)
Open to evaluating a linked GST entity under the same PAN (e.g., PrathFit India) to enhance the sanction amount

Behaviour & gates

Borrower: CIBIL ≥650
avoid: Financial Services, Real Estate (non asset Light) (varies by product)
pan-India (varies by product)
Private Limited, Public, Sole proprietorship, Limited Liability Partner (varies by product)
positive sector: Financial Services (varies by product)
Financials: runway ≥9mo (secured term loan only)

20 more ▾

rev ≥₹40cr (cohort ≈174.9) (secured term loan only)
TOL/adjusted tangible net worth ≤5
debt/EBITDA ≤4 (cohort ≈0.3×)
networth ≥₹10cr (cohort ≈105) (secured term loan, working capital demand loan only)
debt/networth ≤4 (cohort ≈0.7×)
DSCR ≥1
Deal: rate 13–18% (range across products — see matrix)
ticket ₹2–100cr (range across products — see matrix)
tenure 6–48mo (range across products — see matrix)
no PEP
Security (observed): Personal Guarantee Of Promoters / Directors / Property Owner (100%)
median ticket ₹1.5cr
median rate 16%
median turnaround 7d
Security asked in : 1st/pari-passu charge on current assets (×7), FD margin 20–30% (×6), Fixed Deposit <5% (×5), FD margin 5–10% (×5)
Security asked in : Personal Guarantee Of Promoters/Directors (×27), 1st/pari-passu charge on current assets (×17), FD margin 15–20% (×12), FD margin 10–15% (×8)
Security asked in 2026: Personal Guarantee Of Promoters / Directors / Property Owner (×57), Escrow Of Cashflows (×22), 1st/pari-passu charge on current assets (×13), FD margin 10–15% (×10)
share → in-principle approval (initial interest): ≈4d
in-principle approval → sanction (underwriting): ≈4d
sanction → disburse (closing): ≈3d

Incred Alternative Investments Private Limited

Behaviour & gates

Borrower: CIBIL ≥650
pan-India
Financials: TOL/adjusted tangible net worth ≤5
debt/EBITDA ≤4
debt/networth ≤4
DSCR ≥1

10 more ▾

Deal: rate 14–19%
ticket ₹20–1000cr
tenure 13–36mo
Security (observed): Personal Guarantee Of Promoters / Directors / Property Owner (100%)
share pledge ≤51% (100%)
2nd charge on current assets (50%)
Security asked in : Fixed Deposit <5% (×3), FD margin 5–10% (×3), FD margin 10–15% (×3), FD margin 15–20% (×3)
Security asked in : Personal Guarantee Of Promoters/Directors (×7), 1st/pari-passu charge on current assets (×4), FD margin 15–20% (×2), Fixed Deposit <5% (×1)
Security asked in 2026: Personal Guarantee Of Promoters / Directors / Property Owner (×6), share pledge ≤51% (×6), 2nd charge on current assets (×3), FD margin 10–15% (×2)
share → in-principle approval (initial interest): ≈0d

— Products & indicative terms

What Incred Financial 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	Arm
Cashflow Financing▾▴ Turnaround ~6d Wins Asks for Other (×4) — e.g. BR to be furnished after SL is shared Asks for Term sheet (×2) — e.g. Board Resolution (BR) and other KYC documents required from borrower Behaviour & gates Offered terms (past deals): rate 0–17–22% ₹0.1–0.8–3 Cr 6–12–24 mo _(excl. 1 multi-product deal — no per-product split on record)_ Turnaround: ≈6 days (share→disburse) Not okay with company raising any debt right now (×1) Restructuring not possible for this deal (×1) 7 more ▾ ▴ They do not do large corporates in the trading sector (×1) Deal capped at 1.5cr, ToT yet to be accepted Disbursement aligned for 10-15th March with the founder Disbursement delayed due to auto-debit mandate failure; will proceed once auto-debit mandate succeeds Lender is funding a different (sister) company within the applicant's group rather than the applicant itself Lender is structuring the facility by funding the applicant's parent company Board declined the debt request	₹0.1–3 cr	0–22%	6–24 mo	Incred Financial Services
Sales Invoice Discounting▾▴ Turnaround ~462d Wins Director overdue: 0.001 INR Cr Director CIBIL: 650 States: pan-India Debt / EBITDA: 4 8 more ▾ ▴ Debt / Net worth: 4 Debt Service Coverage Ratio: 1 Offered terms (past deals): rate 12–13–14% ₹10–10–10 Cr 12–12–12 mo _(excl. 1 multi-product deal — no per-product split on record)_ Turnaround: ≈462 days (share→disburse) Asks for Audited financials (×1) — e.g. Paused evaluation until Audited FS are received, will resume only afterwards Asks for Term sheet (×1) — e.g. Wants case re-shared only once company's Audit is complete Behaviour & gates Min tenure (mo): 12 Months Min ticket (₹cr): 5 Max tenure (mo): 12 Months Min rate (%): 13 Max ticket (₹cr): 20 Max rate (%): 16 4 more ▾ ▴ rate — stated 13–16%, actually offered 12–14% → priced/sized below stated floor Amount — stated 5–20 Cr, actually offered 10–10 Cr → within stated band Tenure — stated 12–12 mo, actually offered 12–12 mo → within stated band ED case going on. Negative for lending (×1)	₹10 cr	12–14%	12 mo	Incred Financial Services
Secured Term Loan▾▴ Turnaround ~38d Rejects Negative sectors: Financial Services, Real Estate (non asset Light) Wins Director overdue: 0.001 INR Cr States: pan-India Company types: Private Limited, Public, Sole proprietorship, Limited Liability Partner Director CIBIL: 650 → funded cohort ≈689 18 more ▾ ▴ Min Runway: 9 Months Min revenue (₹cr): 40 → funded cohort ≈174.91 Debt / EBITDA: 4 → funded cohort ≈0.31 Min Networth: 10 INR Cr → funded cohort ≈105 Debt / Net worth: 4 → funded cohort ≈0.71 Debt Service Coverage Ratio: 1 → funded cohort ≈0 Offered terms (past deals): rate 14–15.5–18% ₹1–5–10 Cr 12–21–24 mo Turnaround: ≈38 days (share→disburse) Asks for Other (×5) — e.g. NOC required for second charge on current assets Asks for Bank statements (×2) — e.g. Bank statements (Canara) required covering trailing months Asks for Provisional financials (×2) — e.g. Lender requested P&L statements for FY-22 and FY-23. Asks for Contracts/work orders (×1) — e.g. Customer-level table required: names, relationship start/contract end dates, loc Asks for Debt schedule / sanction letters (×1) — e.g. Debt schedule must detail EMI and revolving credit terms for existing loans (e.g Asks for MIS (×1) — e.g. InCred requested MIS, cash & bank balance breakup, debt structure, sanction lett Asks for Receivable/inventory ageing (×1) — e.g. Customer debtors aging data for FY and FY Asks for Term sheet (×1) — e.g. Promoters' net worth statements required Behaviour & gates Min tenure (mo): 12 Months Min ticket (₹cr): 2 Max tenure (mo): 48 Months Min rate (%): 13 Politically Exposed Person: No Max ticket (₹cr): 100 19 more ▾ ▴ Security required: ['Fixed Deposit 40 - 50%', 'Personal Guarantee of Promoters / Directors / Property Owner'], ['Personal Guarantee of Promoters / Directors / Property Owner', 'Charge On Current Assets - Second Charge', 'Fixed Deposit 10 - 15%'], ['Charge On Current Assets - Pari Passu First Charge', 'Personal Guarantee of Promoters / Directors / Property Owner'] Max rate (%): 18 rate — stated 13–18%, actually offered 14–18% → within stated band Amount — stated 2–100 Cr, actually offered 1–10 Cr → priced/sized below stated floor Tenure — stated 12–48 mo, actually offered 12–24 mo → within stated band Lender's internal check on the company was unfavorable despite the company disputing it, lender was not willing to proceed with the deal (×1) No go on coal mining sector (×1) No go where there is a political connection in the promoter's family (×1) Not comfortable with segment due to exposure to government receivables; dropped (×1) Pass - lender is planning to fund in the next quarter (×1) Passed as deal did not meet policy criteria (×1) Passed on the deal - not comfortable with the segment/sector (×1) We will pass this transaction (×1) Will pass. Due to compliance reason can't fund pre-revenue companies (×1) Avoiding hard/office collateral (×1) Avoids companies that are too dependent on debt financing (×1) Bootstrapped company status was a factor in dropping the deal (×1) Cautious on companies with volatile revenues, noting a significant YTD FY26 dip (×1)	₹1–10 cr	14–18%	12–24 mo	Incred Financial Services
Unsecured Business Loan▾▴ Turnaround ~10d Wins Director overdue: 0.001 INR Cr Director CIBIL: 650 → funded cohort ≈712 Debt / EBITDA: 4 → funded cohort ≈-0 Debt / Net worth: 4 → funded cohort ≈0.64 14 more ▾ ▴ Debt Service Coverage Ratio: 1 → funded cohort ≈0.17 Offered terms (past deals): rate 16–17–28% ₹0–0.4–3 Cr 15–18–36 mo Turnaround: ≈10 days (share→disburse) Asks for Other (×10) — e.g. Requires PAN card of the company Asks for Bank statements (×9) — e.g. Requires bank statements up to current date Asks for Term sheet (×8) — e.g. Requires KYC documentation for the company and its directors Asks for Legal / KYC (×4) — e.g. Requires PAN cards of company directors Asks for Cap table / equity (×2) — e.g. Requires company and directors' KYC package: Director Aadhaar & PAN, GST Certifi Asks for Audited financials (×1) — e.g. Requires audited financials for FY25 Asks for Debt schedule / sanction letters (×1) — e.g. Requires debt schedule Asks for MIS (×1) — e.g. Requires MIS, GST data, and bank statement reconciliation documents Asks for Provisional financials (×1) — e.g. Requires draft balance sheet for FY26 Behaviour & gates Min tenure (mo): 6 Months Max tenure (mo): 36 Months Min rate (%): 15 Max ticket (₹cr): 3 Tenure — stated 6–36 mo, actually offered 15–36 mo → within stated band "Not eligible for a loan: - Low and inconsistent payouts. - High EMI obligations (≈3L pm)" (×1) 18 more ▾ ▴ Applicant not eligible for loan — high EMI obligations (×1) Applicant not eligible for loan — high EMI obligations (≈₹5.4L per CIBIL) and recent loan taken (₹9.6L on 05-Jun-2026) (×1) Applicant not eligible for loan — recent loan taken (×1) Not eligible for loan — high EMI obligations (≈₹3L pm) (×1) Not eligible for loan — inconsistent payouts (×1) Not eligible for loan — location concern (×1) Not eligible for loan — low and inconsistent payouts (×1) Not eligible for loan — low margin product category (×1) Not ok for loan - Poor abb and credits (×1) Not ok for loan — inconsistent payouts (×1) Not ok for loan — location concern (×1) Not ok for loan — low margin product category (×1) Offer on the deal was rejected (reason given in a prior email) (×1) Reject - Drop in payouts, Overdue in CIBIL (×1) Rejected the deal, citing a drop in payouts (×1) Rejected the deal, citing overdue in CIBIL (×1) Will not go ahead with this case: recent loans and high EMIs, and no escrow comfort (×1) Lender requires Amazon escrow of cashflows to be taken as security (×1)	₹0–3 cr	16–28%	15–36 mo	Incred Financial Services
Secured Term Loan▾▴ Turnaround ~367d Wins Director overdue: 0.001 INR Cr [set , Mohit Gautam] Director CIBIL: 650 [set , Mohit Gautam] States: pan-India [set , Mohit Gautam] TOL: 5 [set , Mohit Gautam] 7 more ▾ ▴ Debt / EBITDA: 4 [set , Mohit Gautam] Debt / Net worth: 4 [set , Mohit Gautam] Debt Service Coverage Ratio: 1 [set , Mohit Gautam] Offered terms (past deals): rate 12–13–14% ₹40–40–40 Cr 24–24–24 mo Turnaround: ≈367 days (share→disburse) Behaviour & gates Min tenure (mo): 13 Months [set , Mohit Gautam] Min ticket (₹cr): 20 [set , Mohit Gautam] Max tenure (mo): 36 Months [set , Mohit Gautam] Min rate (%): 14 [set , Mohit Gautam] Max ticket (₹cr): 1000 [set , Mohit Gautam] Max rate (%): 19 [set , Mohit Gautam] 3 more ▾ ▴ rate — stated 14–19%, actually offered 12–14% → priced/sized below stated floor Amount — stated 20–1000 Cr, actually offered 40–40 Cr → within stated band Tenure — stated 13–36 mo, actually offered 24–24 mo → within stated band	₹40 cr	12–14%	24 mo	Incred Alternative Investments

Also offered, with no terms observed yet: Operating Lease, Overdraft / Cash Credit, Purchase Invoice Discounting, Working Capital Demand Loan.

— Typical term sheet

What a sanction from Incred Financial 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 81 sanction letters carrying the clause.

Other standing covenants31%

— Security & covenants

What they will ask you to pledge

Counted across the sanction letters read. A combination is normal, and most files carry more than one.

Incred Financial Services Limited

Security deposit cheque3 letters
Promissory Note3 letters
Fixed Deposit3 letters
Post-dated/undated cheques2 letters
Receivables2 letters
Corporate Guarantee2 letters

Security deposit cheque ×3, Promissory Note ×3, Fixed Deposit ×3, Post-dated/undated cheques ×2, Receivables ×2, Corporate Guarantee ×2

— Common questions

What borrowers ask about Incred Financial

What does Incred Financial lend?: Incred Financial writes cashflow financing, operating lease, overdraft / cash credit, purchase invoice discounting, sales invoice discounting, secured term loan and 2 further products. Across those, observed facilities run ₹10 lakh to ₹40 cr.
What ticket size does Incred Financial offer?: Facilities observed on live transactions run from ₹10 lakh 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 Incred Financial charge?: Rates observed on live transactions fall between 12% and 28% a year. Tenures run 6 to 36 months. These are observed figures, not a quote, and the rate you are offered depends on your file.
How long does Incred Financial take to disburse?: About 7 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 Incred Financial'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.

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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 Incred Financial's current policy. Terms are set by the lender at the time of sanction.