Facebook Business Loan: The social networking giant Facebook has now entered in to the market of finance. It is known as “small business loans initiative“. In India fb has more than 340 million active users. Earlier Facebook has made investment of 5.7 billion on Jio to provide WhatsApp payment service in India. It is very clear indication that Facebook is now entering in the financial sector. First they are providing loan services, latter on they will enter in insurance and policy market. With this loan scheme small business will get most benefits. as a business owner you can take a loan up to 50 lakhs. right now factbook is not directly control all aspects of this loan scheme. For implementation purpose Facebook has made a contract with Indian startup Indifi. Indifi is working on the same platform from last 5 years. this fb partner company has taken the responsibility to specify eligible person and loan repayment risks.
How much loan can I get from Facebook in India
India is the first country where fb has launched this business loan scheme. As an Indian business owner you can avail loan between 5 lakh to 50 lakh at a predefined interest of 17-20% per annum. There is an announcement for women’s, women will get extra 0.2% deduction on loan interest.
Other business loan you may check before applying fb loan: Top 6 business loan
Who can apply for this fb business loan?
- SMEs contain 2 to 50 employees.
- Business registered for more than a year.
- Business with GST registered.
- Have organization PAN card.
- Good company background.
Documents required for Facebook business loan
As Indifi is handling this fb loan scheme and they are liable for recovery also. Hence they must observed for right candidate to provide the loan. As per companies rules and regulation. they will need following documents for fb business loan.
- You need to provide a copy of your
- Candidates PAN card,
- Aadhaar Card
- Address proof of self and firm
- Business registration proof
- Bank Statement of last nine months.
- In case of loan more than 15 lacs, latest ITR
Facebook Business Loan application process
Indifi as a slogan of “Our loan. Your Growth” will control full loan process. Facebook business loan scheme will be implemented by this Indian startup under guidance of fb. You can apply this loan in on line mode from official site. Facebook / Indifi will shortly launch the application site. You need to apply Facebook Business Loan on that site.