| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
SBI Global Factors Limited
|
6% | 0.50% | 5000 | 6 |
|
|
India Factoring
|
8% | 0.50% | 5000 | 6 |
|
|
Drip Capital
|
11% | 0.50% | 5000 | 6 |
|
|
HSBC Bank
|
8% | 0.50% | 5000 | 6 |
|
|
Citi Bank
|
7% | 0.505 | 5000 | 6 |
|
|
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 CriteriaEligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
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.
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.
+
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.
+
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.
+
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.
+
As a business owner, you are required to send goods for export & quickly raise an invoice to get finance from any financial institution.
+
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.
+
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.
CA Vikas Jain - Our Mentor
9863-02-02-02