# Spark Fund business loans

> Spark Fund is on Recur Club's lender panel, writing secured term loan.

Source: https://www.recurclub.com/lenders/spark-fund
Last updated: 2026-10-20

Also offered, with no terms observed yet: Secured Term Loan.

## Eligibility - SPARK FUND MANAGERS PRIVATE LIMITED

### Screening gates and observed behaviour

- Borrower: age ≥2y · CIBIL ≥650 · avoid: Financial Services, Banking, Real Estate (non asset Light) · pan-India · Private Limited, Public · sector-agnostic (47 sectors — full list in data JSON)
- Financials: runway ≥12mo · rev ≥₹70cr · TOL/adjusted tangible net worth ≤5 · debt/EBITDA ≤4 · debt/networth ≤4 · DSCR ≥1
- Deal: rate 13–18% · ticket ₹20–50cr · tenure 12–48mo
- Security (observed): Personal Guarantee Of Promoters / Directors / Property Owner (100%) · FD margin 10–15% (83%) · 1st/pari-passu charge on current assets (67%) · 2nd charge on current assets (50%) · share pledge ≤51% (50%) · 1st charge on P&M (50%)
- Security asked in : 1st/pari-passu charge on current assets (×7), Personal Guarantee Of Promoters/Directors (×5), FD margin 5–10% (×3), FD margin 15–20% (×2)
- Security asked in 2026: Personal Guarantee Of Promoters / Directors / Property Owner (×6), FD margin 10–15% (×5), 1st/pari-passu charge on current assets (×4), 2nd charge on current assets (×3)
- share → in-principle approval (initial interest): ≈34d

## Eligibility - spark pwm private limited

### Screening gates and observed behaviour

- Borrower: age ≥2y · CIBIL ≥650 · avoid: Real Estate (asset Light), E-Commerce, Electric Vehicle · pan-India · Private Limited, Public · sector-agnostic (47 sectors — full list in data JSON)
- Financials: EBITDA ≥₹1cr · runway ≥12mo · rev ≥₹75cr · TOL/adjusted tangible net worth ≤5 · debt/EBITDA ≤4 · debt/networth ≤4 · DSCR ≥1
- Deal: rate 12–16% · ticket ₹20–150cr · tenure 12–18mo · no PEP
- Security: 1st/pari-passu charge on current assets · 2nd charge on current assets

## Common questions

### What does Spark Fund lend?

Spark Fund writes secured term loan.

### What are Spark Fund'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.

### What security does Spark Fund ask for?

Observed across sanctions: Personal Guarantee Of Promoters / Directors / Property Owner (100%) · FD margin 10–15% (83%) · 1st/pari-passu charge on current assets (67%) · 2nd charge on current assets (50%) · share pledge ≤51% (50%) · 1st charge on P&M (50%).

### How do I apply to Spark Fund?

You do not apply to Spark Fund directly through Recur Club. Answer a short set of questions on Recur Market and your file is scored against Spark Fund's own recorded criteria alongside every other lender on the panel, so you see where you fit before anyone is approached.

### Is Spark Fund the right lender for my business?

It depends on which product you need, your sector and how your last two years of financials read. The credit box on this page is what Spark Fund screens on; running your own numbers through Recur Market shows whether you clear it, and which other lenders you clear at the same time.

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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 Spark Fund's current policy.