India’s EV Backbone Needs Builders — EV Startup Loans by Credifin Are Backing Them
The electric vehicle movement in India is no longer just about the number of vehicles on the road—it’s about building a resilient, inclusive ecosystem that enables long-term adoption. And at the heart of this transformation are the entrepreneurs who are setting up EV dealerships, charging stations, and service networks across the country.
To understand how financial innovation is empowering these new-age founders, All India EV sat down with Credifin, a pioneering NBFC that’s redefining the space of EV Startup Loans—not just as a financing tool, but as a complete business enablement package. Their program isn’t merely about capital; it’s a bold step toward building India’s clean mobility backbone.
Credifin’s EV Startup Loan program is a bold move. What inspired Credifin to specifically target entrepreneurs in the EV sector, and what larger vision does this initiative align with?
The buzz around electric vehicles is louder than ever—but adoption isn’t just about vehicle availability. The real challenge lies in building the right ecosystem: understanding regulations, setting up operations, partnering with OEMs, establishing dealerships, Sales and Marketing, and ensuring after-sales support.
At Credifin, we’ve been at the forefront of this movement, especially in the eRickshaw and eLoader segments, working closely with both OEMs and end users. Through this journey, we saw a clear opportunity—not just to finance vehicles, but to empower entrepreneurs who will build the backbone of India’s green mobility future.
That’s what inspired our EV Startup Loan program. It’s designed to go beyond financing—to help set up the very infrastructure that supports EV adoption across the country. From dealerships to marketing to support, we want to enable entrepreneurs to become changemakers in the EV space.
This is just the beginning. We’re actively expanding our offerings and partnering with other players in the ecosystem—like charging infrastructure providers—to make sure the entire EV value chain is supported under this initiative.
The goal to empower 1,000 EV entrepreneurs in the next few years is ambitious. What kind of support systems, beyond financing, have you built to ensure these businesses succeed?
Empowering 1,000 EV entrepreneurs is not just about providing loans—it’s about building a robust support ecosystem to ensure their long-term success. Here’s how we’re making that happen:
- Strategic OEM Partnerships: We help entrepreneurs partner with credible, long-standing EV manufacturers. Our due diligence ensures they only work with reliable brands, setting them up for a sustainable and profitable future.
- Legal and Regulatory Support: We’ve tied up with one of the country’s top law firms to assist entrepreneurs in setting up their business structures and securing all necessary licenses and compliances under relevant schemes.
- Market Intelligence & Business Planning: Before launching their dealerships, we guide entrepreneurs through market surveys and feasibility studies, helping them understand local demand, expected sales, and potential revenue.
- Marketing & Local Partnerships: We offer branding and marketing support, along with access to regional corporate partnerships to drive visibility and sales.
- Evolving Ecosystem Support: Beyond these, we’re continuously working on new services and strategic collaborations to further strengthen the EV entrepreneurship journey—and will be rolling these out in the near future.
Can you walk us through the end-to-end journey for an applicant—from loan application to dealership setup? What kind of eligibility and documentation are required?
The EV Startup Loan is a unique product—and so is every applicant. We recognize that each entrepreneur brings a different vision, level of experience, and business context. That’s why this program is designed to be flexible and personalized rather than following a rigid, one-size-fits-all approach.
Actually, we’re not just financing ideas—we’re co-creating businesses. By keeping the process people centric, we’re ensuring that promising EV entrepreneurs from all walks of life have a real shot at building something impactful.
We do not have a structured end to end journey planned, but this typically includes:
- Initial Inquiry & Consultation:
The process starts with a simple expression of interest—this could be through our website, our SM handles, any local partners, Sales team or Referrals. Our team then plans a one-on-one consultation to understand the entrepreneur’s vision, background, and what they plan to do. - Need Assessment & Customization:
We will then look closely into the entrepreneur’s goals and their experience and we then tailor make the financial product and support services to match their requirements. - Eligibility Check and Documentation:
While we aim to keep the program inclusive, we do conduct basic checks related to Business plan viability, Background verification of the promoter, Financial stability or potential for repayment and Alignment with EV ecosystem development.
We simplify paperwork, but some key documents typically include things like ID and address proof, Business registration documents, Basic financial statements or income proof and details of any collateral that they have to avail the loan.
- Partnership Facilitation:
Once qualified, we assist in connecting the entrepreneur with vetted OEMs, help secure legal compliance, and support business setup—right from market research to location evaluation and dealership layout, as the need and requirement may be. - Loan Disbursement & Setup:
After final approvals, the loan is disbursed in tranches aligned with business milestones—such as dealership setup, vehicle procurement, or infrastructure development. - Ongoing Support & Growth Enablement:
Post-launch, our team stays involved in an advisory capacity, providing support, marketing assistance, and strategic tie-ups to help the entrepreneur grow sustainably.
How does Credifin collaborate with EV OEMs in this ecosystem? Are there exclusive tie-ups or preferred partners you’re working with for e-rickshaws, L5s, or 2-wheelers?
Credifin actively collaborates with a wide range of EV OEMs across segments—including e-rickshaws, L5 vehicles, and two-wheelers. While we are open to partnerships, we also have a set of preferred OEM partners in each category who meet our rigorous evaluation criteria. This is a dynamic list and we keep adding names to it. We have also had unfortunately to bring to an end our partnerships with a couple of OEMs on quality and sustainability issues. But with each of our failures, our list of what we require from the partners becomes more stringent.
Today, before entering into any partnership, each OEM is assessed against a detailed checklist, which includes:
- Manufacturing Capacity – Ability to meet volume demand consistently
- Geographical Presence – Nationwide or regional reach to ensure serviceability
- Business Vintage – Track record and operational stability over the years
- Financial Health – Balance sheet strength and long-term viability
- Diversification – Performance of any other businesses under the same group
- Growth Outlook – Scalability plans and vision for the EV ecosystem
- Branding & Marketing Capability – Ability to create market visibility and pull
- Leadership & Team – Experience and credibility of the management team
By partnering selectively with OEMs who meet these standards, we ensure that our entrepreneurs work with reliable, future-ready brands—giving them a stronger foundation for long-term success.
Are you seeing more interest from Tier 2 and Tier 3 cities, or are metro-based entrepreneurs also tapping into this fund? How do regional trends shape your approach to disbursement?
We’re seeing strong interest across the board—from metros as well as Tier 2 and Tier 3 cities. However, our approach to disbursement is completely data-driven. We assess EV penetration levels in a given region, along with competitive intensity and market saturation. This helps us gauge the business viability for each potential entrepreneur, particularly in terms of potential sales and cash flow. Based on these insights, we customize loan offerings and support to improve the chances of long-term success.
Is there a focus on youth, women entrepreneurs, or underserved groups through this initiative? If yes, how are you tailoring the offering for these segments?
While the EV Startup Loan is open to all, we do have a broader organizational goal to promote women entrepreneurship. We prioritize women applicants wherever possible and are working toward building additional support systems—such as mentorship, simplified onboarding, and community partnerships—to better serve underserved groups in the near future.
How does Credifin evaluate the long-term impact of these EV businesses on India’s clean mobility goals? Are there any sustainability KPIs you are tracking?
As of now, we are not tracking specific sustainability KPIs. But this is possibly the way forward and we understand that these can play a critical role in accelerating India’s clean mobility transition. We’re hopeful that in the next few years, as the metrics become more mainstream and we have a pre-defined framework to measure long-term impact of last mile eConnectivity, such as emissions reduction, EV penetration in underserved regions, and number of sustainable jobs created, we will also start doing this actively.
What’s next after EV Startup Loans? Do you envision launching financial products for EV service infrastructure—like charging stations or battery swapping networks—in the near future?
Our next focus area is EV charging infrastructure. We see strong demand from entrepreneurs looking to set up charging stations, particularly in Tier 2 and Tier 3 cities. As for battery swapping, we view it as a B2B-driven space currently dominated by larger players and venture capital interest. While we’re monitoring that segment, our immediate roadmap is centered on enabling access to charging solutions—making the EV ecosystem more viable for everyday users and small business owners.
As India marches towards its ambitious clean mobility goals, financing models like Credifin’s EV Startup Loan are emerging as critical enablers—not just by easing capital access, but by nurturing an ecosystem where first-time entrepreneurs can thrive.
With an eye on impact, inclusivity, and infrastructure, Credifin is helping lay the foundation for a more democratic and decentralized EV revolution—one dealership, one entrepreneur at a time.
Stay tuned to All India EV for more such deep dives, exclusive interviews, and ecosystem insights from the frontlines of India’s green mobility movement.
