What you mean by Exporter Bill under LC?
Business owners are acquiring funds against Exporter Bill under LC, banks give them the freedom to use the money in advance before receiving the payment dues from the Overseas Banks.
Exporter Bill Discounting
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | |
|---|---|---|---|---|---|
|
12
|
2
|
23
|
36
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
12 |
|
Eligibility Criteria
What you mean by Export bill discounting Eligibility Criteria?
Through this facility an exporter can be able to get quick access to cash with the help of intermediary's financial institutions commitment of payment. It aids for making better cash flow. Get paid for your unpaid export invoices.
Export bill discounting Eligibility Criteria
Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
- • Age Limit of Individuals - 22 to 60 years
- • Should have good credit record
- • All business involved in supplying goods & services
- • Minimum 3 year of exporting business continuity
Note: - You can avail up to 90% of invoice value as a maximum loan amount.
What are the factors generally affecting Export bill discounting Eligibility Criteria?
There are top factors that generally affects bill discounting eligibility criteria as given below: -
Creditworthiness: - It's one of the major factors determining the eligibility of applicant. Therefore, if any due payment & late payment found on your credit history it would affect your credit score as well as chances of getting credit.
Size of export order: - Usually, size of export order is considered to evaluate the risk level. As much as the order size will reflect the high & low risk to approve the credit acceptance.
What are the ways to increase Export bill discounting eligibility?
To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Documents Required
- Individual
- Prop Firm
- Partnership Firm-LLP
- PVT. LTD.
- PHOTOGRAPHS 2
- PAN CARD COPY
- AADHAR CARD + PASSPORT
- ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
- LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
- LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
- LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
- COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
- PROCESSING FEE CHEQUE IN FAVOUR OF BANK
- LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
- PHOTOGRAPH BOTH
- PAN CARD CLEAR COPY PROPRIETOR
- ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PHOTOGRAPH PARTNERS
- PAN CARD - COMPANY, ALL PARTNERS
- ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
- FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST RETURN LAST 1 YEARS
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- ALL DIRECTORS PHOTOGRAPH
- CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions
What is the process to obtain Exporter Bill Discounting?
The process to obtain export bill discounting is become easier, being a business owner, you just start sending goods for exports & raise a quick bill to get finance.
What are the benefits of Exporter Bill Discounting?
This credit facility enables you to get funds against your unpaid invoices wherein you will be able to get much more opportunity to utilize the fund whether for expanding business, taking high level orders.
How Exporter Bill Discounting works?
As a business owner, you are required to send goods for export & quickly raise an invoice to get finance from any financial institution.
What is Exporter Bill Discounting?
Generally, Exporter Bill Discounting is preferred by international trading segments to secure liquidity to have good cash flow of business, this credit facility allows them to acquire short term fund.
What are the key features of Exporter Bill Discounting?
Aiding Business Working Capital: - One of the main features of Bill Discounting is it provides quick access to liquidity against your unpaid bills & aid to enhance business cash flow.
No Collateral required: -Though this facility it won’t ask for any Collateral/assets to pledge to get fund as it's a Collateral-free Loan.
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