Ambition

Ambition is a simple, paperless way for small business owners to get a business loan from their phone. Verify your identity, verify your business, share your bank statements and track your application, all in one app. TWO LOANS TO CHOOSE FROM 1. Udaan 90: a short-term working capital loan of 2 to 3 months, with 0% interest. 2. Udaan Plus: a business growth loan of 3 to 12 months, with a fixed interest rate of 28% per annum. WHY AMBITION • 100% in-app application, with no branch visits • Quick identity verification with Aadhaar (front and back), PAN or DigiLocker • Business verification with your Udyam registration number and certificate • Secure bank statement sharing with your consent, through Account Aggregator • Add more than one alternate contact to your application • Share your loan summary, including the processing fee • Chat support in the app, including voice • Available in English and Hindi WHO CAN APPLY • Owners of Udyam-registered businesses with at least 12 months of business history • A satisfactory credit bureau record with no overdue amounts • Proof of an owned house or business premise • Bank statements that show income from the business HOW IT WORKS 1. Sign in with your mobile number. 2. Complete KYC with Aadhaar, PAN or DigiLocker. 3. Verify your business with your Udyam registration number. 4. Share your bank statements securely, with your consent. 5. Record a short video of your business. 6. Choose Udaan 90 or Udaan Plus, review your offer and submit. 7. Track your application in the app. LOAN TERMS (both loans) • Loan amount: ₹25,000 to ₹1,50,000 • Late payment charge: 0.1% per day on the overdue amount • Prepayment / foreclosure charges: none • One active loan per customer at a time • Maximum Annual Percentage Rate (APR): about 47%, including the processing fee UDAAN 90 • Purpose: working capital • Repayment period: minimum 2 months, maximum 3 months, in monthly instalments • Interest rate: 0% per annum • Processing fee: 5% of the loan amount, deducted from the amount disbursed UDAAN PLUS • Purpose: business growth • Repayment period: minimum 3 months, maximum 12 months, in monthly instalments • Interest rate: 28% per annum, reducing balance • Processing fee: 3% of the loan amount, deducted from the amount disbursed REPRESENTATIVE EXAMPLES OF THE TOTAL COST OF A LOAN Udaan 90: ₹50,000 for 3 months Interest: ₹0. Processing fee (5%): ₹2,500, deducted upfront. You receive: ₹47,500. Monthly instalment: ₹16,667 (3 instalments). Total repayable: ₹50,000. Total cost of the loan: ₹2,500. APR: about 31.3%. Udaan Plus: ₹50,000 for 12 months Interest rate: 28% per annum (2.33% per month, reducing balance). Processing fee (3%): ₹1,500, deducted upfront. You receive: ₹48,500. Monthly instalment: about ₹4,825 (12 instalments). Total interest: about ₹7,904. Total repayable: about ₹57,904. Total cost of the loan (interest and fee): about ₹9,404. APR: about 34.1%. APR is the annualised cost of the loan on the amount you actually receive, which is the loan amount less the processing fee. Your loan amount, tenure and fees are shown in your loan offer before you accept it. These examples are for illustration only. YOUR DATA AND PRIVACY We ask for your consent before accessing your documents or bank statements. Your data is used only to process your loan application. Read our Privacy Policy in the app. LENDING PARTNER Loans are offered by NARENDRA FINANCE CO PVT LTD Download Ambition and apply today.