| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Forclosure Charge | Chances of Loan Approval | |
|---|---|---|---|---|---|---|---|
Essel Finance
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9.00% | 2% | 80 | 240 | 5% |
|
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India Infoline Finance Limited
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18.00 % | 2 % | 12 | 240 | 2% |
|
|
As a promoter of company, you always want to grow your business, where this facility allows you to grow fund easily in short time period. Promoter funding is generally used by promoters to grow their business, converting securities into equity shares. There are few criteria you need to look forward to avail this facility.
Promoter funding Eligibility CriteriaEligibility Criteria depends on several factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.
Eligibility Criteria for Self-Employed Individuals
Note: - As a minimum loan amount you can avail 2 Cr to maximum loan amount of 10 Cr.
What are the factors generally affecting Promoter funding against share Eligibility Criteria?There are few factors that generally affects Eligibility Criteria as given below: -
Applicant age: - If you are 30 years old at the time of getting loan then you have enough time period to pay back the loan as your working days will be longer. But if you are near to your retirement age then you lose lowering your eligibility as you working days are very less to repay loan amount, hence lender will not prefer you give approval for loan.
Lower Income: - Your income indicates your repayment capacity. If you already having existing loan then, debt to income ratio will calculated by lender that you have enough capacity to repay another loan or not. So, it might lower chances.
What are the ways to increase Promoter funding against share eligibility?To increase Promoter funding against share eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Add collateral: - Lender need trust from his/her applicant is capable to repay loan, in this scenario if you add your collateral/assets lender trust level increase that if applicant fails to pay back the loan amount, collateral is enough to auction to match the loan amount as it will your chances of loan approval.
Extra importance of payment: - As you know lender check your credit score to know your previous transaction history. Therefore, always give extra importance of payment while taking place in time or not. A clean & clear repayment indicate your sincerity of payment making on time as well as enhance your chances.
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
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
IRM 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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The Promoter Funding Share is a financial provision given by banks and NBFCs to promoters of a company.
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There are some benefits of Promoter Funding Share like it is easy to apply on low Rate of Interest with minimal paper work.
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The minimum amount of Promoter Funding is up to 25 lakhs.
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If, you want to apply for Promoter Funding Share 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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The Promoter Funding Share used for meeting several needs such as acquisitions, takeovers, and expansion of business.
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Yes, collateral security is requiring for Promoter Funding Share.
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There are almost 6 types of Promoter Funding Share as given below: -
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