# Indifi Technologies business loans > Indifi Technologies is on Recur Club's lender panel, writing distributor financing, dropline overdraft, overdraft / cash credit and 6 other products. Observed tickets run ₹10 lakh to ₹2 cr, priced between 15.5% and 19.8%. Median turnaround from application to disbursal is about 12 days. Source: https://www.recurclub.com/lenders/indifi-technologies Last updated: 2026-09-29 ## Products and indicative terms Observed on live transactions. Not an offer or a quote. | Product | Ticket | Rate | Tenure | |---|---|---|---| | Purchase Invoice Discounting | ₹0.3 cr | 18% | 12 mo | | Secured Term Loan | ₹0.5 cr | 18–18.5% | 12–24 mo | | Unsecured Business Loan | ₹0.1–2 cr | 15.5–19.8% | 6–36 mo | | Purchase Invoice Discounting | ₹2 cr | 15.5% | 15 mo | Also offered, with no terms observed yet: Dropline Overdraft, Overdraft / Cash Credit, Sales Invoice Discounting, Working Capital Demand Loan, Distributor Financing, Vendor Financing. ## Eligibility - INDIFI TECHNOLOGIES PRIVATE LIMITED ### Will not fund - Can't pick this case — company was recently rejected - Case is a duplicate — already under evaluation elsewhere and likely to be rejected, so cannot be picked - Cannot pick this case — it is a dedupe - Won't move ahead with this case — Director and majority shareholder Amit Bhasin was co-founder of GoMechanic, reported to have been involved in financial fraud and revenue misrepresentation; case does not meet internal credit policy criteria for onboarding - We don't deal in allopathic medicine - Case rejected — another anchor already punched/registered in this case - Declined the deal: the legal case against the promoter remains active and he is currently marked absconding; clarifications provided do not change this status - "We should avoid this case" regarding Ono Ark, an agri-marketplace platform connecting bulk buyers/sellers across mandis - New NBFC acquired by borrower - not suitable for lender - Passing the deal - company not aligned on the Quantum, rate, PF and tenure - Given these considerations, we should avoid this - Loan amount cannot be increased - Personal SPDC and founder cheques are not being considered - No founder cheques accepted - Will not accept promoter cheques equivalent to the loan amount as it is essentially a personal guarantee on an unsecured facility - Rejected by lender - Unable to offer direct loan terms due to lender PEC restrictions related to revenue concentration issues - Rejected by lender (reason pending) - Case looking not doable due to current overdue of Rs 116,495 in CIBIL report and low EOD bank balance - After re-evaluation, amount enhancement is not possible for this case - Indifi not okay with the sector - Lender is refraining to fund this entity due to high leverage. - Previously shared offer is final; no further negotiations or revisions will be made - No changes possible to foreclosure charges, as these are standard policy ### Prefers - Prefers Mrs. Himani be added as co-applicant if proceeding - Prefers structuring the facility through Flipkart escrow and on the sole proprietorship entity due to higher escrow flow - Plans to reassess company performance in 3 months for potential additional exposure - Company deals in adult products, which reduces the likelihood of funding - Willing to work with the proposed processing fee (PF) and extend tenure to 18 months - …more in playbook - Borrower (Iserveu) is currently in a restructuring phase, flagged in connection with an outstanding balance owed to Incred - For redeployment cases; Indifi team is not to directly reach out to customers - For a top-up case (CTPL), commission/revenue-share is computed as 50% of the PF charged, applied only on the incremental disbursed amount rather than the full disbursement. - Redeployment cases to be checked when POS (principal outstanding) has reduced by 25% at month end - Lender cannot share soft/indicative terms before Personal Discussion (PD); PD must be completed before terms are issued as they lack the capability/process to do otherwise - When a borrower is unable to complete GST OTP e-consent, GSTR-3B report is accepted as an alternative data source for GST verification. ### Screening gates and observed behaviour - Borrower: CIBIL ≥650 · age ≥3y (purchase invoice discounting, sales invoice discounting only) · avoid: Gambling and Betting, Tobacco Products, Explosives, Arms and Ammunitions, Gems and Jewellery, Lottery Business (varies by product) · Private Limited, Sole proprietorship, Limited Liability Partner, Public · sector-agnostic (39 sectors — full list in data JSON) (varies by product) - Financials: EBITDA ≥₹-25cr (varies by product) · runway ≥6mo (dropline overdraft, unsecured business loan) · runway ≥12mo (purchase invoice discounting, sales invoice discounting) · exisiting debt: 35 · rev ≥₹3cr (dropline overdraft, unsecured business loan) · rev ≥₹100cr (sales invoice discounting) · TOL/adjusted tangible net worth ≤5 · debt/EBITDA ≤4 · maximum annualrevenue: 300 (dropline overdraft, sales invoice discounting, unsecured business loan only) · debt/networth ≤4 · DSCR ≥1 - Deal: rate 14–24% (range across products — see matrix) · ticket ₹0–3cr (range across products — see matrix) · tenure 0–48mo (range across products — see matrix) · no PEP - Security (observed): Personal Guarantee Of Promoters / Directors / Property Owner (100%) - Security asked in : 1st/pari-passu charge on current assets (×1), FD margin 20–30% (×1), FD margin 30–40% (×1), FD margin 40–50% (×1) - Security asked in : Personal Guarantee Of Promoters / Directors / Property Owner (×11), Personal Guarantee Of Promoters/Directors (×2), FD margin 5–10% (×2), 1st/pari-passu charge on current assets (×2) - Security asked in 2026: Personal Guarantee Of Promoters / Directors / Property Owner (×54), FD margin 10–15% (×13), Escrow Of Cashflows (×5), FD margin 5–10% (×5) - share → in-principle approval (initial interest): ≈13d - in-principle approval → sanction (underwriting): ≈8d - sanction → disburse (closing): ≈1d ## Eligibility - indifi capital private limited ### Will not fund - Avoids low-margin, commodity-driven businesses like metals and industries with high price fluctuations - Negative industries - Steel, Gems, Marine, Real Estate, EPC, Tobacco - Won't be able to proceed with the customer's proposed commercials (15%-15.5% rate, 1% PF, 10% margin) - Won't fund (stated policy): Steel · Gems and Jewellery · Real Estate (non asset Light) · Engineering, Procurement, and Construction (EPC) · Tobacco Products - Selective / conditional (stated policy): Steel · Gems and Jewellery · Real Estate (non asset Light) · Engineering, Procurement, and Construction (EPC) · Tobacco Products ### Prefers - Pan India coverage till Tier 3 cities, major presence in North & West; preferred industries FMCG, White Goods, Consumer Durables, Building materials/Paints, 2 Wheelers - 1-year vintage requirement for borrowers vs 2-5 year industry standard; anchor-borrower vintage can be as low as 3 months - Focus on high-margin retail-heavy sectors (FMCG, building materials, components) - Manufacturing remains a preferred segment; trading acceptable subject to satisfactory risk assessment; export-oriented businesses viewed favourably; comfortable evaluating packaging, pharmaceuticals, plastics, solar manufacturing and metal trading - Security-backed structures preferred wherever feasible - …more in playbook - Anchor must be ₹1000 Cr & above, PAT positive, min potential ₹10 Cr AUM - Annual banking turnover > INR 200 lacs, average banking balance > INR 50k - Beyond the standard docs list, credit team asks for certain additional documents on a case-by-case basis - 0.5% rate reduction with every 5% FD Margin - Margin-decline explanation (shift to established manufacturing partners) is inconsistent with supplier data (10 of top 15 suppliers common across FY25-FY26) and GST records — a partner shift typically explains ≈5% margin change vs. the observed ≈20% drop - Minimum monthly anchor purchase INR 5 lacs (60 lacs p.a.) or 15% dependency on anchor, with purchases in 4 of last 6 months - Agreement e-signing links are routed via the Complinity portal and arrive under a specific subject-title format ('Indifi Capital Pvt Ltd \| Secretarial \| (Agreement Name) \| Please sign the attached document') - Can consider ticket sizes up to ₹20 Cr subject to credit approval - Comfortable starting ticket size ₹50-60 lakh; enhancement to ₹1 Cr+ easier after repayment history; committee scrutiny increases materially beyond ₹1 Cr - Can work with loss-making anchors (e.g. VC-funded startups) if clear cash runway of minimum 12 months - DSCR declining year-over-year (2.22→0.80→0.67) flagged as debt being on the higher side - Dealer business vintage minimum 1 year, anchor vintage minimum 6 months - Given historical instability in revenue growth and EBITDA margins, fixed/projected financials are not relied upon for future DSCR calculations - Term sheets issued for dealer finance often fail at dealer-by-dealer onboarding since dealers don't agree, causing deals to convert into SID-type structures instead (as seen in precedent cases like KVB) ### Screening gates and observed behaviour - Borrower: age ≥3y (purchase invoice discounting, sales invoice discounting) · age ≥1y (distributor financing, vendor financing) · CIBIL ≥650 · avoid: Steel, Gems and Jewellery, Others, Real Estate (asset Light), Real Estate (non asset Light), Engineering, Procurement, and Construction (EPC), Tobacco Products, Banking, Explosives, Arms and Ammunitions, Financial Services, Gambling and Betting, Insurance, Lottery Business, Ports · pan-India · Private Limited, Public, Sole proprietorship, Limited Liability Partner · sector-agnostic (39 sectors — full list in data JSON) - Financials: runway ≥12mo · rev ≥₹50cr (purchase invoice discounting, sales invoice discounting) · rev ≥₹100cr (distributor financing, vendor financing) · TOL/adjusted tangible net worth ≤5 · debt/EBITDA ≤4 · debt/networth ≤4 · DSCR ≥1 - Deal: rate 15–18% · ticket ₹0–15cr (range across products — see matrix) · tenure 0–12mo - Security (observed): FD margin 10–15% (100%) · Personal Guarantee Of Promoters / Directors / Property Owner (100%) - Security asked in 2026: FD margin 10–15% (×16), Personal Guarantee Of Promoters / Directors / Property Owner (×16), FD margin 15–20% (×3), Corporate Guarantee (×3) - share → in-principle approval (initial interest): ≈14d - in-principle approval → sanction (underwriting): ≈17d - sanction → disburse (closing): ≈1d ## Sanctioned terms (from 7 real sanction letters) ### Sanctioned amount: median ₹1 cr (₹30L–₹1 cr) · NEW ×1 - median ₹1 cr (₹30L–₹1 cr) · NEW ×1 ### Typical security: Repayment Instruments ×2, Repayment Instruments (cheques/PDCs) ×2 - Repayment Instruments ×2, Repayment Instruments (cheques/PDCs) ×2 ### Typical covenants: - Other standing covenants — 71% of letters (e.g. "The Borrower shall comply with all applicable laws including environmental, social & labor laws and ensure subcontractors (including labour-only contractors) co…") - Other standing covenants — 71% of letters (e.g. "The Borrower shall comply with all applicable laws including environmental, social & labor laws and ensure subcontractors (including labour-only contractors) co…") ### Term sheet by ticket size: (facilities, largest first) - (facilities, largest first) ## Common questions ### What does Indifi Technologies lend? Indifi Technologies writes distributor financing, dropline overdraft, overdraft / cash credit, purchase invoice discounting, sales invoice discounting, secured term loan and 3 further products. Across those, observed facilities run ₹10 lakh to ₹2 cr. ### What ticket size does Indifi Technologies offer? Facilities observed on live transactions run from ₹10 lakh to ₹2 cr. The band differs by product, so the figure that applies to you depends on which facility you are asking for. ### What rate does Indifi Technologies charge? Rates observed on live transactions fall between 15.5% and 19.8% 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 Indifi Technologies take to disburse? About 12 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 Indifi Technologies'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 Indifi Technologies's current policy.