COVID-19 Vaccine and Business Loans: Am I Eligible?


Nowadays, no conversation is complete without the topic of the COVID vaccine coming up.

Have you got it yet? Are you getting it? Why are getting it? Which one are you getting? When are you getting it? And where do I get an appointment from? The vaccine has become our ray of hope, making us feel optimistic about a future where everyone in India is vaccinated and life can go back to its pre-COVID rhythm.

Now you may be wondering, what do the vaccine and business loans have in common? Like the vaccines that are meant to protect us from the worst of COVID-19, a business loan acts as a shield for your business as well.

As the World Health Organization recommends, getting the COVID-19 vaccine whether you have already been infected with COVID or not, reduces the stress on your body and increases your body’s ability to fight the virus. This means getting the vaccine can lessen the intensity of the sickness if you do fall sick, while also boosting your immunity to the virus. Similarly, as credit specialists, CreditEnable recommends anticipating your business needs and applying for a business loan before your business goes into financial distress. This makes it easier for your business to weather the storm with a fresh injection of capital and maintain a healthy credit score for your future financial needs.

At CreditEnable, we work with over 25 leading banks and NBFCs in India, who offer 100+ specialised SME loan products. Our proprietary algorithms take the information you provide us about your business and match you with a product and lender that best meet your business requirements. You don’t have to wait weeks or months to hear back from lenders anymore as we’ve reduced the time it takes to get a loan to only 3-7 days!

Who is eligible to get the COVID-19 Vaccine?

  1. Currently, everyone over the age of 18 can get the COVID-19 vaccine in India.
  2. According to the latest vaccine guidelines, from 21 June, 20201, anyone 18 or older can get it for free at government hospitals and vaccine camps, or you can get it at a private facility and pay for the shot.
  3. While you can choose whether you want to get vaccinated or not, and which vaccine you want to get, the Ministry of Health and Family Welfare recommend getting any COVID vaccine to protect yourself and your loved ones right now.

Why should I get the COVID-19 vaccine?

  1. As a fully vaccinated person, if you are exposed to the SARS-CoV-2 virus or any variant of it, you will likely only have a mild case of the virus, reducing the stress on your body, and your ability to infect other people.
  2. As more people get vaccinated, the stress on our healthcare system reduces, freeing up more medical resources for people in need and those with other life-threatening illnesses.
  3. The sooner we all get vaccinated, the faster life can return to normal, and our economy can recover.

What are my vaccine choices?

In India you are currently able to get two types of vaccines:

  1. Covishield – Globally known as the Oxford-AstraZeneca vaccine, this is produced by the Serum Institute of India.
  2. Covaxin – Produced by Bharat Biotech.

Both these vaccines are administered in 2 doses. There must be 6-8 weeks between the two doses of Covishield, and 4-6 weeks between the 2 doses of Covaxin. Read the ”Scheduling Appointments” section of the FAQs on CoWIN to find the latest information on 2nd dose administration.

A third vaccine, Sputnik V, underwent clinical trials to be administered in India. It has been given emergency approval by the government for use and will be available for use very soon.  

Given the dynamic nature of the pandemic and the constantly evolving health advisories, we recommend you stay updated on the latest development regarding the national vaccine programme so that you know the most recent developments.

How do I get the COVID-19 vaccine?

  1. Download the AarogyaSetu app (Android or iOS) or visit
  2. Register yourself on the CoWIN system to book your vaccine appointment.
    1. To register, you will need a mobile number to receive an OTP on and Adhaar numbers of everyone you are registering.
    2. You can register 4 people on one mobile number. This means communication regarding the vaccination of these 4 people will be sent to the one number used to register.
    3. Once registered, you can log out and log back into the system as many times as needed. Every time you sign back in, you are sent a new OTP to verify your access.
  3. Book your appointment.
    1. Once you are registered with the CoWIN system, you can browse vaccine slots available in your state by pin code or district.
    2. The CoWIN platform updates regularly, giving you live updates about vaccine availability (by dose), location, price, and which vaccine is offered at which location.
    3. Regularly check CoWIN to find an appointment as the limited slots fill up very quickly.

As the registration and booking process can be a little intimidating, we encourage you to help those around you (hired help and your employees) with the process.

Things to Remember

  1. The CoWIN mobile app is not for the public to use. It is for vaccine centres to upload vaccine data onto the government serves.
  2. To register, you need to visit the CoWIN website or use the AarogyaSetu app.

Now we know under the national vaccination programme, everyone above the age of 18 is currently eligible to get a vaccine in India. However, getting approved for a business loan is a different matter. There are many factors lenders take into consideration when deciding whether to give you a business loan or not. These include your business sector, type of business, how old your business is, and your past credit history, among other factors. 

But how do you know whether your business is eligible for a business loan or not? Traditionally, you would have to prepare all your documents, submit your business loan application, wait weeks to hear back about the decision, only then to find out that you don’t qualify. This process is time consuming, stressful, and the rejection negatively impacts your credit score. 

At CreditEnable, we know getting a loan is no simple matter. That’s why we’ve developed a technology that simplifies the loan application process, so that SMEs who are eligible for a loan can get the loan they need. With us, you will know upfront whether you’ll be eligible for a loan before having to prepare all your documents and submit your application. Once you’ve checked your eligibility, we’ll help you put your business loan application package together and walk you through the underwriting process.

Our process is quick, free of charge, and has absolutely no impact on your credit score. 

What are my business loan options?

There are many kinds of business loans you can get depending on your needs. Below are the types of loans you can get with CreditEnable.

  1. Unsecured Loan – Good option for funding when you do not own many assets, or your company is growing fast, and you need finance quickly.
  2. Secured Term Loan – This is a practical alternative to Unsecured Loans if you have assets that can work as collateral for a business loan. ROIs for such loans are typically lower than those for Unsecured Loans.
  3. Machinery Loan – Get funds to purchase new plant machinery or equipment, or upgrade the ones you already own.
  4. Working Capital Loan – These loans help keep operations running smoothly even during a low revenue period.
  5. Loan Against Property – When you own valuable personal or business property, it can be used as collateral to help secure a loan.

You can find out what documentation is required for each type of loan here.

How do I apply for a business loan with CreditEnable?

  1. The conventional way of finding the right business loan for your business involves comparing numerous products offered by different banks, their T&Cs, interest rates, and requirements, to decide which one fulfils your needs.
  2. The CreditEnable way of finding the right business loan has eliminated the need for you to go from one bank to another, wasting your time and increasing your stress.
  3. Getting a business loan with CreditEnable is simple. Start by visiting to check your eligibility.
    1. Answering our survey takes 2 minutes and helps us understand your business and requirements better.
    2. At the end of the survey, our AI algorithm assesses whether you meet any of our 20+ lender partner requirements and whether you’re eligible for a business loan based on the information you provided. This is done instantly after you submit the survey!
    3. If you are eligible, submit your individual and business KYC documents and we’ll do the rest of the work! We search through over 100 products to find you the right SME loan product for your business need!
    4. You are matched with a loan product and lender, and we get your business loan disbursed within days!

Why should I apply for a business loan before my business is in distress?

  1. When you take a thoughtful approach to a business loan, it is easier to prepare for it.
  2. Applying while your business is in good health ensures you get the loan you need. A business in distress is a risky investment for a bank, reducing your chances of getting the loan when you most need it, and increasing your chances of rejection.
  3. By getting the financing before your business is in distress, you can also enhance your chances of success and make sure you can repay the loan with ease.

Things to remember:

  1. Apply for a business loan before your business is in financial distress.
  2. Every time you apply for a business loan and get rejected, your credit report is negatively impacted, further reducing your chances of getting a loan.
  3. At CreditEnable, we do a soft pull of your Experian credit report to check your eligibility, which has zero impact on your credit score.
  4. Using CreditEnable, you are able to get an Unsecured Business Loan in 3 days and a Secured Business Loan in 7 days, once we get access to your complete application package.

Both CoWIN and CreditEnable are marketplaces that collect data to make it easier for you to access a service: in this case, booking a vaccination appointment and getting a business loan. Technology is used to make your life easier and reduce your stress.

You can learn more about the national COVID-19 vaccination programme and read the governments’ advisory on some Frequently Asked Questions here.

Together we can defeat the virus and restore social and economic activity. Until then, stay home, stay safe, and stay healthy! Where possible, use technology to make your business operations easier during remote work! Find out how here.

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