Lender profile
UGRO Capital business loans
UGRO Capital is on Recur Club's lender panel, writing cashflow financing, machinery loan, secured term loan and 1 other products. Observed tickets run ₹50 lakh to ₹3 cr, priced between 14.3% and 20%. Median turnaround from application to disbursal is about 9 days.
- ✓Tickets from ₹50 L – ₹3 Cr across 4 products
- ✓Indicative pricing 14.3% – 20%, as quoted on live transactions
- ✓Around 9 days from application to disbursal when the file is clean
- ✓We check your fit against every lender on the panel, not just this one
4
Products live
₹75L
Median sanction
9
Days median turnaround
41
Sanction letters read
— The screen your file has to clear
The screen your file has to clear
What is checked before anything else, and applies to every product below.
Rejects
- "Considering the limited liquidity and uncertain funding visibility, we recommend dropping the case" — given ≈70L monthly cash burn and no signed SHA for the proposed equity infusion.
- "This is not MSME in india, HQ in Singapore, wont be able to fund under this program"
- Will no longer source new deals from the Kolkata location going forward
- Sourcing restriction extends to West Bengal generally, not just Kolkata
24 more ▾ ▴
- As per our RBF policy, a 24-month tenor cannot be considered as funding under this program is not extended for such a long tenure
- Case rejected: Main Applicant PAN is already used in another active application as Main Applicant
- Will not fund agri equipment such as tractors
- "We would pass this" — AI-only investment for a trading business looks more like an equity pitch than a debt market transaction, and the pitch document itself was unclear on revenue/working capital impact
- Do not fund large corporates in the trading sector
- Surat as a location combined with the textile industry is a NO GO as per profile
- 90% export-oriented business is a NO GO criteria, citing global tensions
- Cannot provide high exposure basis provisional financials when EBITDA margins are declining in audited financials
- "Considering the limited liquidity and uncertain funding visibility, we recommend dropping the case" — given ≈70L monthly cash burn and no signed SHA for the proposed equity infusion. (×1
- latest )
- "We wont be able to support this deal - looks like an extremely stressed transaction" — cited six of nine hospitals temporarily closed, four consecutive years of failed annual return filings, revenue decline from ₹100 Cr to ₹53 Cr, and debtor days increased to 150 days. (×1
- latest )
- Irem Sayeed (UGRO Credit): "We won't be able to support this deal" — Glocal Healthcare deemed an extremely stressed transaction: 6 of 9 hospitals temporarily closed, annual returns not filed for the last 4 years, revenue down from ₹100 Cr to ₹53 Cr, and debtor days risen to ≈150 (Orissa/Bengal… (×1
- latest )
- "This is not MSME in india, HQ in Singapore, wont be able to fund under this program" (×1
- latest )
- Sourcing restriction extends to West Bengal generally, not just Kolkata (×1
- latest )
- Will no longer source new deals from the Kolkata location going forward (×1
- latest )
- As per our RBF policy, a 24-month tenor cannot be considered as funding under this program is not extended for such a long tenure (×1
- latest )
- Case rejected: Main Applicant PAN is already used in another active application as Main Applicant (×1
- latest )
Wins
- Company net worth remaining negative for multiple years requires explicit clarification
- Deal viewed as unsuitable given high working-capital gap and heavy unsecured loan obligations, especially when the borrower is shopping the same deal to other lenders
- Asked Ugro to confirm use of Perfios/ScoreMe reports instead of requiring PDF bank statements
- Asked Ugro to allow reliance on bank statement operating credits to reconcile revenue with BTO instead of GST records per GSTIN, for multi-GSTIN borrowers
18 more ▾ ▴
- Asked Ugro to use the Director Details sheet in the investment report instead of requesting KYC details upfront
- …more in playbook
- Company net worth remaining negative for multiple years requires explicit clarification
- Deal viewed as unsuitable given high working-capital gap and heavy unsecured loan obligations, especially when the borrower is shopping the same deal to other lenders
- Asked Ugro to confirm use of Perfios/ScoreMe reports instead of requiring PDF bank statements
- Asked Ugro to allow reliance on bank statement operating credits to reconcile revenue with BTO instead of GST records per GSTIN, for multi-GSTIN borrowers
- Asked Ugro to use the Director Details sheet in the investment report instead of requesting KYC details upfront
- Asked Ugro to make FCU mandatory only when Perfios/ScoreMe reports flag observations/red flags
- Asked Ugro to allow use of existing auto-debit mandate/UDC as an interim exception when auto-debit mandate activation is delayed or signatory unavailable, backed by a signed declaration
- Agreed GST-vs-banking turnover variances causing delays/rejections will be addressed via monthly net GST sales figures aligned to banking turnover, with material variances explained in the CAM
- Agreed KYC documents not required at case logging
- director/tele-PD details (residential/office address ownership, shareholding) included in CAM instead
- Agreed a separate FCU check is not required when ScoreMe/Perfios reports confirm no errors
- Mandatory security required for Term Loan: charge on current assets, pari passu first charge (high importance).
- Targets private credit to startups with meaningful runway, and SME/midmarket borrowers.
- Accepts Private Limited, Public, Sole Proprietorship and LLP company types
- No state restriction — accepts companies headquartered in any Indian state/UT
- Downgraded importance of the maximum director current overdue check from Critical to High
Behaviour & gates
- Borrower: CIBIL ≥650
- Private Limited, Public, Sole proprietorship, Limited Liability Partner (varies by product)
- avoid: Financial Services (varies by product)
- Financials: runway ≥18mo (secured term loan only)
- maximum tradereceivables: 120 (secured term loan only)
- minimum workingcapitalgap: 10 (secured term loan only)
21 more ▾ ▴
- minimum tradereceivables: 7 (secured term loan only)
- minimum tradepayables: 7 (secured term loan only)
- maximum tradepayables: 150 (secured term loan only)
- maximum workingcapitalgap: 120 (secured term loan only)
- TOL/adjusted tangible net worth ≤5 (machinery loan only)
- debt/EBITDA ≤4 (machinery loan only)
- debt/networth ≤4 (machinery loan only)
- DSCR ≥1 (machinery loan only)
- Deal: ticket ₹1–25cr (range across products — see matrix)
- tenure 6–48mo (range across products — see matrix)
- Security (observed): Personal Guarantee Of Promoters / Directors / Property Owner (100%)
- 1st/pari-passu charge on current assets (100%)
- FD margin 10–15% (67%)
- 1st charge on P&M (50%)
- median ticket ₹1.5cr
- median rate 17%
- median turnaround 9d
- Security asked in : Personal Guarantee Of Promoters / Directors / Property Owner (×1)
- Security asked in 2026: Personal Guarantee Of Promoters / Directors / Property Owner (×6), 1st/pari-passu charge on current assets (×6), FD margin 10–15% (×4), 1st charge on P&M (×3)
- share → in-principle approval (initial interest): ≈4d
- sanction → disburse (closing): ≈4d
— Products & indicative terms
What UGRO Capital 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 |
|---|---|---|---|
Cashflow Financing▾Turnaround ~9d Wins
Behaviour & gates
9 more ▾ ▴
| ₹0.5–3 cr | 14.3–20% | 4–18 mo |
Also offered, with no terms observed yet: Machinery Loan, Secured Term Loan, Working Capital Demand Loan.
— Typical term sheet
What a sanction from UGRO Capital 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.
How often each clause appears
Share of the 41 sanction letters carrying the clause.
Other standing covenants27%
— 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.
- Machinery2 letters
- Post Dated Cheques (PDC)1 letters
- Escrow/receivables1 letters
- auto-debit mandate and cheques1 letters
- Machinery ×2, Post Dated Cheques (PDC) ×1, Escrow/receivables ×1, auto-debit mandate and cheques ×1
— Common questions
What borrowers ask about UGRO Capital
- What does UGRO Capital lend?
- UGRO Capital writes cashflow financing, machinery loan, secured term loan, working capital demand loan. Across those, observed facilities run ₹50 lakh to ₹3 cr.
- What ticket size does UGRO Capital offer?
- Facilities observed on live transactions run from ₹50 lakh to ₹3 cr. The band differs by product, so the figure that applies to you depends on which facility you are asking for.
- What rate does UGRO Capital charge?
- Rates observed on live transactions fall between 14.3% and 20% a year. Tenures run 4 to 18 months. These are observed figures, not a quote, and the rate you are offered depends on your file.
- How long does UGRO Capital take to disburse?
- About 9 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 UGRO Capital'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.
Next steps after UGRO Capital
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Check my matchLast updated
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 UGRO Capital's current policy. Terms are set by the lender at the time of sanction.