# 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. Source: https://www.recurclub.com/lenders/incred-financial Last updated: 2026-09-29 ## Products and indicative terms Observed on live transactions. Not an offer or a quote. | Product | Ticket | Rate | Tenure | |---|---|---|---| | Cashflow Financing | ₹0.1–3 cr | 0–22% | 6–24 mo | | Sales Invoice Discounting | ₹10 cr | 12–14% | 12 mo | | Secured Term Loan | ₹1–10 cr | 14–18% | 12–24 mo | | Unsecured Business Loan | ₹0–3 cr | 16–28% | 15–36 mo | | Secured Term Loan | ₹40 cr | 12–14% | 24 mo | Also offered, with no terms observed yet: Operating Lease, Overdraft / Cash Credit, Purchase Invoice Discounting, Working Capital Demand Loan. ## Eligibility - Incred Financial Services Limited ### Will not fund - 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 - 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) ### Prefers - 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 - 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 ### Screening gates and observed behaviour - 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) · 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 ## Eligibility - Incred Alternative Investments Private Limited ### Screening gates and observed behaviour - Borrower: CIBIL ≥650 · pan-India - Financials: TOL/adjusted tangible net worth ≤5 · debt/EBITDA ≤4 · debt/networth ≤4 · DSCR ≥1 - 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 ## Sanctioned terms (from 81 real sanction letters) ### Sanctioned amount: median ₹1 cr (₹10L–₹12 cr) · NEW ×14 · RENEWAL ×7 - median ₹1 cr (₹10L–₹12 cr) · NEW ×14 · RENEWAL ×7 ### Typical security: Security deposit cheque ×3, Promissory Note ×3, Fixed Deposit ×3, Post-dated/undated cheques ×2, Receivables ×2, Corporate Guarantee ×2 - Security deposit cheque ×3, Promissory Note ×3, Fixed Deposit ×3, Post-dated/undated cheques ×2, Receivables ×2, Corporate Guarantee ×2 ### Typical covenants: - Other standing covenants — 31% of letters (e.g. "Borrower/s must intimate InCred/Lender in writing within 30 days of any update/change/alteration/correction in the KYC documents/officially valid documents, inc…") - Other standing covenants — 31% of letters (e.g. "Borrower/s must intimate InCred/Lender in writing within 30 days of any update/change/alteration/correction in the KYC documents/officially valid documents, inc…") ### Term sheet by ticket size: (facilities, largest first) - (facilities, largest first) ## Common questions ### 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. --- Check which lenders fund a business like yours: https://www.recurclub.com/recur-market All lenders: https://www.recurclub.com/lenders 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.