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Cash Business Loan |
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Features
- Short Term Unsecured Cash loans up to Rs.100/- lakh repayable on affordable, stress free, daily basis method. No more worries of lump sum monthly
- Repayment: In 8 month. (Over 190 working days through daily bank debits or Card swipe terminal.)
- Security: Not Required.
Your Need:
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For maintaining a large stock in various combinations to cater to everybody and more so during season.
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Remodelling your limited space for better aesthetics and utility keeping in mind always that Customer is King and to Stand Out amongst competitors.
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To see you through from the current bad business cycle.
- To keep your business updated with the latest advances in technology and upgrading to the latest equipment to give your business that edge over your competitors.
You Are:
- A Retailer, Wholeseller, Distributor, Service Provider.
- Having Daily Cash sales and supporting bank credits.
Segment:
- Apparels, Garments, trimmings,
- Bakeries, Confectionery & Ice cream Parlour,
- Ceramics, Tiles, Granite, Marble, Floorings,
- Cinemas, Theatres, Auditorium,
- Clinics, Polyclinics, Nursing Homes & Hospitals,
- Computer Hardware & Peripherals,
- Consumer Durables & Non durables,
- Courier service,
- Dairy & Dairy Products,
- Department Stores, Supermarket, Chain Store,
- Drugs, Pharmaceuticals & Medical,
- Electrical, Hardware, Paints, Plywood,
- Electronics, Audio Video, Mobile, Photo studio & Accessories,
- Florists & Artificial Flowers & Plants,
- Food grains, Dry Fruit, Food products,
- Grocery, Edible Oil, Vegetables, Fruits,
- Fish, Meat, Poultry,
- Footwear & accessories,
- Furniture- Metal, Wood, Plastic,
- Glassware, Crockery & Cutlery,
- Jewellery Gold & Imitation,
- Kitchen & House hold Appliances- Plastic, Metal & Wooden,
- Leather garments, Items & Accessories,
- Soft & Moulded Luggage,
- Novelty, Toys & Gift, Stationery, Handicraft,
- Optical goods and Accessories,
- Packaging Materials,
- Paper Merchant and paper products,
- Perfume, Cosmetic & Toiletries,
- Plastic Products,
- Restaurants, Hotels, Cafes, Fast Food joint,
- Salons, Gym, Fitness centres, Spas,
- Small Tools & Machineries and parts,
- Spare Parts, Batteries, Tyres & Accessories,
- Sport goods,
- Textiles, Fabrics, Hosiery, Furnishings,
- Umbrella, Rain wear & Winter wear,
- Utensils,
- Watches, Clocks,
- Wine Shops and more...
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- On complete set of documents being provided as per check list forwarded documents are sent to the respective bank/institution for processing.
- On acceptance of the documents by the bank/institution a physical verification of residence &
office and documents is initiated along with current credit history report as maintained by Cibil.
- Post positive verification of residence and office and acceptable credit history as captured by
Cibil a personal interview /discussion is arranged at the customer's office by the
bank/institution.
- Based on and subject to credit comfort and mitigation of any further queries the file is
forwarded for sanction to the appropriate authority.
- On sanction loan agreement is executed and all additional documents as required post personal
discussion including original title deeds etc. has to be submitted along with either post- dated
cheques or security cheques in case of repayment through electronic clearance (ecs).
- The loan is disbursed subsequently.
Documents Required:
- Photograph (Applicant and Co-applicants).
- Pan card (Applicant and Co-applicants).
- Pan card of firm/company if applicable.
Residence & Office address Proof:
- Latest Electricity bill or Receipt of Maintenance Charges
or valid Passport or Purchase/Lease Deed/Leave &
License Agreement of Residence or Office
Premises. (Either residence or office has to be self or
family owned as per current policy)
Business Existence Proof:
- VAT/CST/Service tax Registration certificate or SSI Permanent Registration Certificate or Warehouse Receipts or Shop & Establishment Certificate.
- Partnership deed / Memorandum and Articles of Association with certificate of incorporation as the case may be. (Amended / Reconstituted partnership deed or Form 32 where ever required)
- Last three years complete set of IT papers including Computation of income, Profit & Loss A/c. and Balance Sheets with all schedules, annexure’s, Auditor's / Director's report, Form 3CA/3CB, & 3CD as the case may be (duly certified by a Chartered Accountant wherever applicable).
- Latest 12 months Bank statement of the Firm of all accounts.
- Sanction/Closure letter of all existing loans including CC/OD etc.
- Individual Income Tax Returns of the Individual/Partners/Directors for last three years.
- Latest 12 months Bank statement of Individuals, Partners, Directors.
- List of the Existing Directors & Share Holding pattern of the company on letter head duly certified by Chartered accountant or latest copy of ROC to substantiate the same.
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Some Basic Requirements
- Should have vintage of at least 2 years.
- Should have daily cash sales with matching bank credits
- Age Limit 25 yrs Minimum to 65 yrs maximum.
- Loan eligibility is based on average daily bank balance and business model.
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Q .Who can apply for a Cash Business Loan?
Self employed individuals, firms, Pvt. Ltd. and Deemed Ltd. companies can apply.
Q.What are the eligibility criteria’s for self employed?
Daily average sales and bank credits of at least Rs.25, 000/- and above.
Q. What is the minimum and maximum loan amount?
The minimum loan amount is Rs.2 lakh and maximum Rs.100 lakh.
Q.What is the loan tenure?
The maximum tenure is 8 month.
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