Capital Float Review| North Loop Official Blog
North Loop Logo
North Loop
16 Sep 2020

Capital Float Review

thumbnail for Capital Float Review
Credit: North Loop

About Capital Float –

Capital Float or Capfloat Financial Services Private Limited is a fintech lender in India providing financial products and services to individuals and SMEs (small and medium enterprises). It specializes in providing different types of business loan products to customers in the country and enables them to meet their working capital requirements, purchase inventory and manage cash flows.

Capital Float Business Loan –

The minimum Capital Float loan amount begins from Rs.5 lakh and can go up to Rs.50 lakh. No collateral is required to apply for the loan, and it gets disbursed within three days after final approval. The interest rate charged on the Capital Float loan is 18% onwards, and the repayment tenure is between 1 to 3 years. A processing fee of 2% of the loan amount also gets charged.

Get a zero-balance, no-fee NRE/NRO account with North Loop in 5 minutes

Eligibility criteria for Capital Float Business Loan –

You can avail the loan if you are a manufacturer, distributor, B2B or a B2C firm and have an annual turnover of over Rs.1 crore. Your business must be in existence for a minimum of three years, and you should possess GST returns and bank statements of at least the last six months.

Merchant Cash Advance from Capital Float –

The interest on this begins from 15%, and the processing fee is 2% of the loan amount. The minimum loan amount is from Rs.2 lakh and can go up to Rs.1 crore. The repayment tenure allowed varies between 9 to 18 months. Top-up and renewal are also available with it.

Eligibility criteria for Merchant Cash Advance –

Your annual turnover should be at least Rs.20 lakh, and you should be GST registered. Your business should be in existence for a minimum of 1 year, and you should have a card volume of minimum Rs.2 lakh per month.

Capital Float School Finance –

The interest rate on Capital Float school finance begins from 18%, and the processing fee is up to 2% of the loan amount. The minimum and maximum loan amount available is Rs.5 lakh and Rs.50 lakh respectively. The loan disbursement occurs within three days, and the repayment tenure varies between 1 year and 3 years. No collateral is required to avail this loan as well.

Eligibility criteria for Capital Float School Finance –

Your school should be operational for at least three years. It can be an unaided private school with recognition from Central/State Boards, or a school run by a trust or a society. You can avail this loan only if your school is running in profit.

Documents Required -

GST returns of the last six months

ITR of the last two months

KYC documents (both of business owner and entity)

Business bank statements of the previous six months

Overdraft sanction or loan letters (if applicable)

You can avail instant loans with digital service providers like North Loop without providing so many documents. North Loop offers a wide range of low-interest rate credit and loans with easy, affordable and transparent EMIs. The documentation required is also minimal, and the application process is 100% digital and very convenient.

What is Online Checkout Finance provided by Capital Float?

Online Checkout Finance is a popular feature offered by Capfloat Financial Services Private Limited that allows you to select instant zero cost or low-cost capital float EMI payment options during checkout while purchasing products online. Capital Float has partnered with several ecommerce websites such as Amazon to enable you to buy products from them without making a full upfront payment. You can apply for this Online Checkout Finance by providing your PAN card details and completing the KYC formalities to authenticate your identity. Once you’ve registered, you can use your Capital Float login details to sign in to your exclusive dashboard and track your Capital Float EMI payment history. You can also check your pending dues by using the Capital Float login ID and password provided to you on registration. If you are unable to do so, you can contact the Capital Float customer care.

Capital Float Bangalore Head Office and Capital Float Customer Care number –

The address of Capital Float’s Bangalore head office is:

Gokaldas Platinum, New no. 3 (Old no. 211)
Upper Palace Orchards, Bellary Road
Sadashiva Nagar, Bengaluru – 560080

The Capital Float Customer Care number is 1860 419 0999.

Conclusion –

If you want to evaluate and choose the right loan online, it is necessary to consider various factors like interest rates, application fees, repayment terms and customer support. Online loan providers like Capital Float provide different types of loans but do not have flexible repayment terms and also score low on the customer support front. The Capital Float customer care service is not up to the mark, and the interest rates provided by it are also not competitive enough. If you are looking for low-interest rate loans with transparent and affordable EMI options, you should definitely go for a service provider like North Loop. You get not only low-interest and instant loans but also a very prompt customer support system. The application process is also very smooth, quick and requires minimal documentation.

You can sign up with North Loop by clicking here.

Save money with

No-fee banking, investments, remittances & insurance for the global Indian

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.