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Supply Chain Finance @9.00% Onwards

Supply Chain Finance (SCF) is a Short Term Working Capital finance to DEALERS/ SUPPLIERS having business relationships with LARGE CORPORATE to optimize working capital requirements of both Supplier & Dealer.Supply Chain Finance is a fine blend of Bill Discounting & Overdraft product with the essence to optimize finance & flexibility for the customer.
Enquiry Form
supply chain finance
Bank Name Interest Rate Range (%) Processing Fee (%) foreclosure Charge Maximum Tenure (Month)
Axis Bank Ltd.
8.00% - 9.00%
1%
2
60
Bank of Baroda
9.00% - 10.00%
1%
2
12
ICICI Bank Ltd.
9.00%-10.00%
1%
2
12
IndusInd Bank
10.00%-11.00%
1%
2
12
kredx
16.00% - 18.00%
1%
2
60
Lending Kart Finance Limited
18.00% - 20.00%
1%
2
60
SBI Global Factors Limited
11.00% - 13.00%
1%
2
12
State Bank of India
7.80% -9.00%
1%
2
12
Tata Capital Financial Services Limited
12.00% - 14.00%
1%
2
60
Bank Name Key Features
Axis Bank Ltd.
Interest rate

8.00% - 9.00%

Foreclosure Charge

2

Bank of Baroda
Interest rate

9.00% - 10.00%

Foreclosure Charge

2

ICICI Bank Ltd.
Interest rate

9.00%-10.00%

Foreclosure Charge

2

IndusInd Bank
Interest rate

10.00%-11.00%

Foreclosure Charge

2

kredx
Interest rate

16.00% - 18.00%

Foreclosure Charge

2

Lending Kart Finance Limited
Interest rate

18.00% - 20.00%

Foreclosure Charge

2

SBI Global Factors Limited
Interest rate

11.00% - 13.00%

Foreclosure Charge

2

State Bank of India
Interest rate

7.80% -9.00%

Foreclosure Charge

2

Tata Capital Financial Services Limited
Interest rate

12.00% - 14.00%

Foreclosure Charge

2

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Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  11. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

How does Supply Chain Finance increase the visibility into cash flow for invoices that aren’t traded to funding partners?

Once the invoice/receivable data has been uploaded to the supply chain finance platform, the due date (maturity date) listed is the date the supplier will receive payment unless they choose to be paid early. There is no longer any question as to the date of payment. This creates added transparency and increased cash flow visibility.

Why is supply chain finance a better alternative to direct lending?

 There are two reasons why supply chain finance is better than direct lending. First, the interest rate a supplier will pay for a loan will most likely be much higher than the discount/finance fee paid in a supply chain finance scenario. That’s because supply chain finance funding is based on the customer’s credit rating rather than the supplier’s (which tends to be higher given the financial health of largest, multinational buyers).

Our company already offers an early payment program and/or factors its receivables. What are the advantages of supply chain finance over these options?

Early payment programs, like dynamic discounting, are buyer-initiated programs where buyers offer suppliers a discount on invoices in exchange for early payment. That means suppliers get paid less than they would in a supply chain finance scenario. Factoring works in a similar way. Suppliers sell their invoices to a bank in return for earlier, but partial, invoice payment. The interest rate charged is based on the supplier’s typically lower credit rating and all factored receivables count as debt.

How do we get started?

Once suppliers accept the invitation to participate in a buyer’s supply chain finance program, the rest is easy. They will be directed to a customized cloud-enabled platform powered by Finance Seva to complete registration and submit the required financial documentation.

 Finance Seva will train the supplier’s team on how to use the cloud-enabled platform to submit and select invoices for early payment, as well as how to get the maximum benefit from the program. The platform is highly intuitive and easy to use.

As a participant, what does our company’s time commitment look like?

Suppliers only need to make a small time commitment to participate in their customer’s supply chain finance program.

Do I need to augment our accounting processes or IT infrastructure to participate?

No change in accounting processes or IT infrastructure is required. All that is needed to participate is access to a web browser. The registration and onboarding process is easy and doesn’t require any investment in software or technology. Simply login, select invoices for early payment – and get paid.

Are there any additional costs or fees?

No. There are no additional costs or fees. A nominal discount (fee) is applied only when a supplier selects early payment. Suppliers are able to get paid on their own terms to help unlock working capital.

As a program participant, do we have to trade all of our receivables?

No, you have complete control over which invoices are submitted for early payment. You can select all, some or none of your receivables for trading.

What if our company has liens against our receivables?

Finance Seva uniquely provides electronic time drafts, a patent-pending legal solution that allows banks to purchase a trade draft from the Finance Seva platform without the requirements of lien searches and release issues. Electronic trade drafts are already in use by thousands of suppliers.

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