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Micro Business Loan (Pragati)

Micro Business Loan (Pragati) by IDFC FIRST Bank is an offering for small businesses with big dreams. Our customized credit solution caters to the needs of Micro Enterprises. Our team of experts guides you through a seamless journey of availing this credit facility. We offer multiple benefits such as flexible repayment options for loans ranging from ₹25,000 to ₹20 lakhs, best business loan interest rates, quick and easy documentation.Read More

Take the next step for your business with loans from IDFC FIRST Bank.Read Less

Key Features


Who can apply?

  • Self-Employed Individuals
  • Sole Proprietors and Partnership Firms
  • Age requirements:- Minimum: 23 years at the time of taking the loan & Maximum: 68 years at the time of loan redemption
  • Clear record in terms of past loans and statutory payments
  • Good credit rating score in credit bureau
  • Minimum 3 years of business continuity
  • Eligibility assessment basis Banking and Cash Flow


  • Proof of Identity
  • Proof of Address
  • PAN/Form 60
  • Last 6 months' Bank Statement
  • Business Existence Proof
  • Proof of Property ownership

Know more

Pragati Business Loan Eligibility


Find out about our minimal and transparent fees & charges

View Fees & Charges

fees and charges


I want to start a business. Can I get a Pragati Business Loan?

No, you cannot. Your business should be running for at least 2 years to apply for small business loans

Which basic KYC documents are required for this small business loan?

For this business loan without collateral, you need to provide at least one OVD (Aadhaar/Passport/Driving license/ Voter ID) with your correct name, date of birth, current address, and PAN. If PAN is not available, your Form 60 will have to be filled and submitted for verification. 

Do I need any business documents to get a Pragati Business Loan?

Yes, you need to provide proof of business as well as the proof for your business’ existence in the same place for at least 2 years to get a bank loan for business.

How much time it will take for the small business loan amount to be disbursed?

For our small business loans, a loan amount of up to 5 lakhs can be disbursed within 3 days of approval if all the required documents are provided.

Do I need to visit an IDFC FIRST Bank branch to avail a small business loan?

You will need to visit the bank branch once to sign the micro business loan agreement and complete all pre-disbursement formalities.

I reside in an area where no IDFC FIRST Bank branch is present, how can I get a micro business loan?

We offer micro business loans in the radius of 5-10 kms of the nearest IDFC FIRST Retail Asset Branch.

I have a savings account with IDFC FIRST Bank, do I still need to submit my KYC documents?

Yes, you are required to submit your KYC documents to avail a small business loan.

Is it mandatory to have an account with IDFC FIRST Bank to avail a micro business loan?

No, it is not mandatory to have an account with IDFC FIRST Bank to avail a small business loan. However, we suggest opening a savings account with the IDFC First Bank to avail the benefits offered by the bank over a savings account.

What are the different ways of paying my micro business loan EMI?

Your EMIs are debited from your bank account on the due date through the NACH registered at the time of loan application. In case your EMI has bounced, you can visit to pay your EMI.  You can visit our nearby retail asset branch to pay your EMI as well. You can also reach out to our sales officer who can guide you to pay your EMI through other available options like Paytm/Google Pay, etc.

I live in a rental house and have been running my business through a rental shop for several years, can I avail a micro business loan?

You need to have a house/shop in your name or in the name of your spouse, father or mother to avail a small business loan

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