Frequently Asked Questions (FAQ)
Easy Growth Finance – Your Business Growth Partner
Have questions about business funding? Find answers to common questions about eligibility, interest, repayment options and the application process.
1. What is Easy Growth Finance?
Easy Growth Finance provides short-term, collateral-free business funding solutions for eligible business owners operating in Tamil Nadu.
2. Who can apply for business funding?
Business owners operating in Tamil Nadu may apply if they meet the basic eligibility criteria, including the required business transaction volume, an active business current account and sufficient repayment capacity.
3. What is the minimum business transaction requirement?
The business should generally have a minimum transaction volume of ₹5,00,000 or above. Final eligibility depends on the business profile and assessment.
4. Is physical collateral required?
No physical collateral, such as property, gold or vehicles, is required under our described funding model. Cheques from the business current account may be required as part of the agreed security arrangement.
5. What is the funding tenure?
The general short-term funding tenure ranges from 5 months to 10 months, depending on the approved amount, business profile and agreed terms.
6. What is the interest rate?
Interest starts from 2% per month, subject to eligibility and approved terms. The actual rate may vary depending on the applicant’s profile and funding arrangement.
7. Is the 2% interest rate monthly?
Yes. The starting interest rate is 2% per month, not 2% for the entire loan tenure. Please review the applicable interest calculation and total cost before accepting a funding offer.
8. Is interest deducted upfront?
Where upfront interest deduction applies, the interest for the agreed period may be deducted from the approved amount before disbursement. The deduction and net disbursed amount should be communicated before the funding arrangement is finalized.
9. How much money will I actually receive?
The net amount received may be lower than the approved amount if interest or other applicable deductions are made upfront.
Illustrative example only:
- Approved amount: ₹10,00,000
- Tenure: 10 months
- Starting interest: 2% per month
- Illustrative interest for 10 months: ₹2,00,000
- Net disbursed amount after the illustrated interest deduction: ₹8,00,000
- Repayable principal amount: ₹10,00,000
Actual amounts and terms may vary. Any additional applicable charges should be disclosed before the funding arrangement is finalized.
10. What repayment options are available?
Depending on the approved arrangement, repayment may be scheduled in one of the following ways:
- Monthly repayment
- Repayment every 15 days
- Weekly repayment
The actual repayment frequency and amount will be agreed before disbursement.
11. Can I repay monthly?
Yes. Monthly repayment may be available, subject to the approved terms and repayment schedule.
For example, a ₹10,00,000 repayment amount over 10 months would equal ₹1,00,000 per month for 10 months, assuming equal instalments and no additional amounts.
12. Can I repay every 15 days?
A 15-day repayment arrangement may be available, depending on the approved terms.
For example, ₹10,00,000 divided into 20 equal repayments would be ₹50,000 per repayment over a 10-month period, subject to the agreed schedule.
13. Can I repay weekly?
Weekly repayment may be available under the approved funding arrangement.
For example, ₹10,00,000 divided into 40 equal repayments would be ₹25,000 per repayment over 10 months, subject to the agreed schedule.
14. How many repayment cheques are required?
The number of repayment cheques depends on the repayment frequency and tenure. Generally, the arrangement may involve:
- Monthly: 1 repayment cheque per month
- Every 15 days: 2 repayment cheques per month
- Weekly: approximately 4 repayment cheques per month
The exact requirements will be communicated before the funding arrangement is finalized.
15. Are additional security cheques required?
Two additional security cheques may be collected as part of the agreed security arrangement. Their purpose and applicable conditions should be explained before you proceed.
16. Which bank account should the cheques come from?
The cheques are generally required from the current account used for your business transactions. The exact requirements will be confirmed during the assessment and documentation process.
17. Can businesses outside Tamil Nadu apply?
Our current target customers are business owners operating in Tamil Nadu. Applications from businesses outside Tamil Nadu are not covered by our current stated eligibility criteria.
18. Is funding approval guaranteed?
No. Approval is not guaranteed. Every application is subject to assessment of the business profile, transaction history, repayment capacity and other applicable requirements.
19. What documents are required?
Applicants may need to provide:
- Basic applicant details
- Business details
- Current account and banking transaction information
- Business-related documents
- Identity and address information, where applicable
- Additional documents required for assessment
The exact requirements may vary depending on the applicant’s profile.
20. How is my eligibility assessed?
Eligibility may be assessed based on your business activity, transaction history, current account information, funding requirements and repayment capacity.
Meeting the basic criteria does not automatically guarantee approval.
21. Are there any additional charges?
Any applicable processing fees, service charges, taxes or other charges, if any, should be communicated before the funding arrangement is finalized. Please clarify all charges before accepting the terms.
22. How long does the approval process take?
The processing time may vary depending on the completeness of the information submitted, the assessment required and the applicable process. A specific approval or disbursement timeline is not guaranteed.
23. Can I apply if my business has been operating for a short period?
Eligibility depends on the available business information, transaction history, repayment capacity and internal assessment. Contact our team to discuss your specific business profile.
24. What happens if I miss a repayment?
Missed or delayed repayments may have consequences under the applicable funding agreement and relevant law. Please review the repayment terms and any applicable charges before accepting the funding arrangement. Contact the appropriate support team promptly if you anticipate repayment difficulties.
25. How can I apply for business funding?
Visit our website or contact us to discuss your funding requirements and understand the application process.
Apply Online: https://easygrowth.in/
26. How can I contact Easy Growth Finance?
You can contact us using the details below.
Easy Growth Finance – Your Business Growth Partner
- Call / WhatsApp: 7338831558
- Website: https://easygrowth.in/
- Office Address: 3rd Floor, Kovai Towers, RTO Road, Gandhipuram, Coimbatore – 641018, Tamil Nadu, India.
Still Have Questions?
We are here to help you understand your business funding options. Contact Easy Growth Finance to discuss your requirements, eligibility and applicable terms.
Call / WhatsApp: 7338831558
Apply Now: https://easygrowth.in/
Disclaimer: All examples are illustrative only. Actual funding approval, interest, deductions, net disbursed amount, repayment obligations and applicable charges depend on the approved terms and relevant documentation.