| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
EXIM Bank
|
5.50% |
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There are multiple types of export finance one such is project finance generally used to do funding on infrastructure projects. This facility helps the debt off the project sponsor balance sheet & work as an unsecured loan if the project gets default, then overall responsibility undertaken by lenders. Hence, it’s most preferred finance as the risk level is nil.
Export project finance Eligibility CriteriaEligibility Criteria depends on various factors like repayment history, business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
There are few factors that generally affects Eligibility Criteria as given below: -
None - collateral: - Lender check whether you own any collateral/assets on your name or not, if not then preferably your chances get lower due to none-collateral.
Financial Statement: - If you were unable to maintain & keep eye on financial statement, it would affect your eligibility as due to lack of professional maintenance you fall to miss payment which give a negative mark.
What are the ways to increase export project finance eligibility?To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Maintain good financial history: - Maintaining a good financial history is only possible when you do credit card & existing loan EMI payments on time without making any default, not applying for multiple card with low usage of card with the ratio of 30% from actual limit.
Boost your creditworthiness: - On regular basis check your credit creditworthiness by getting credit report & make sure whether all payments are taking place on time. This will help you to increase eligibility as well as creditworthiness.
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 (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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Yes, Collateral security is requiring for Export Project Funding
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Some other securities you have to pay in Export Project Funding: -
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If, you want to apply for Export Project Funding firstly, you have to download the application form and fill all necessary details given in in the form then attach documents with the application form which is required for that and wait for the approval.
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There are some documents you required for Export Project Funding:
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There are some benefits of Export Project Funding like it is easy to apply on low Rate of Interest with minimal paper work.
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Get funded for your Export Project, whether it's a new & existing project. Many lenders offer this credit facility to business owners who engage in export. These funds cover up construction, procurement & other expenses.
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Project Export Finance is not for only earn foreign exchange but also provides an opportunity to the industry in providing additional avenues of growth and employment.
CA Vikas Jain - Our Mentor
9863-02-02-02