| Bank Name | Min Interest Rate | Processing Fee | Foreclosure Charge | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Kredx
|
16.00% | 1% | 2 | 6 |
|
|
SBI Global Factors Limited
|
10.00% | 1% | 2 | 6 |
|
|
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IFCI Limited
|
11.00% | 1% | 2 | 6 |
|
|
It is a short-term facility where individual borrow loan from banks & NBFC’s due to customer’s late payment unable to manage cash flow, wherein, sale bill discounting plays an important role in managing & increasing working capital of business.
Sale bill discounting Eligibility Criteria
Note: - You can avail Up to 80% of actual invoice receivable as a loan amount.
What are the benefits of availing sale bill discounting?Increase working capital: - Generally, the major reason behind most businesses having good cash flow is the customer transactional behavior, till they receive payments on time there won’t be any problem faced by the company. But when the customer makes delay payments, company get worried about cash flow, where bill discounting is the ideal solution for getting things in track on time.
Easy obtain of Cash: - Bill discounting is far better than other loan in terms of time consuming, once's lender get yours pending invoice receivables within a short period of time you can easily obtain cash.
Avoid long time payment: - Why you have to wait, when you already spended whole time from getting raw materials to providing services & waiting still receiving payment from customers. Let your worries be aside just pledge invoice discounting & get immediate cash to manage your cash flow without waiting for a long while.
Collateral not required: - As most of you know, collateral consider to the key points while availing any type of loan, but bill discounting is one such unique products which allow you to get quick access to cash flow without pledging collateral/assets.
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
BRIEF HISTORY OF COMPANY
COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE. AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
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
COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE .AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
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
BRIEF HISTORY OF COMPANY
COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE .AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
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
BRIEF HISTORY OF COMPANY
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE .AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
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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For applying Debts Consolidation Loan your cibil score should be above than 750.
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Salaried individual can apply for Debts Consolidation Loan.
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Debts Consolidation is a process of combining a single loan into one Interest Rate.
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You can get a Debts Consolidation Loan from financial institute, or a private and government bank.
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Debts Consolidation loan may be Secured or Unsecured.
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Debts Consolidation Loans required Collateral, such as your home, car, retirement account, or insurance policy.
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You can take a up to 25 lakhs for Debts Consolidation.
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You can apply for Debts Consolidation through online from these following steps: -
CA Vikas Jain - Our Mentor
9863-02-02-02