# True North business loans

> True North is on Recur Club's lender panel, writing purchase invoice discounting, secured term loan, working capital demand loan.

Source: https://www.recurclub.com/lenders/true-north
Last updated: 2026-10-20

Also offered, with no terms observed yet: Purchase Invoice Discounting, Secured Term Loan, Working Capital Demand Loan.

## Eligibility

### Screening gates and observed behaviour

- Borrower: CIBIL ≥650 · avoid: Financial Services, Real Estate (non asset Light) · pan-India
- Financials: TOL/adjusted tangible net worth ≤5 · debt/EBITDA ≤4 · debt/networth ≤4 · DSCR ≥1
- Deal: rate 13–18% · ticket ₹50–1000cr · tenure 12–60mo
- Security (observed): Personal Guarantee Of Promoters / Directors / Property Owner (100%) · 2nd charge on current assets (67%) · share pledge ≤51% (67%) · FD margin 10–15% (67%)
- 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 (×6), 2nd charge on current assets (×4), Immovable Fixed Assets - Second Charge (×2), 1st charge on immovable assets (×1)
- Security asked in 2026: Personal Guarantee Of Promoters / Directors / Property Owner (×3), 2nd charge on current assets (×2), share pledge ≤51% (×2), FD margin 10–15% (×2)
- share → in-principle approval (initial interest): ≈2d

## Common questions

### What does True North lend?

True North writes purchase invoice discounting, secured term loan, working capital demand loan.

### What are True North'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 True North ask for?

Observed across sanctions: Personal Guarantee Of Promoters / Directors / Property Owner (100%) · 2nd charge on current assets (67%) · share pledge ≤51% (67%) · FD margin 10–15% (67%).

### How do I apply to True North?

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

### Is True North 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 True North 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 True North's current policy.