What are the benefits of Vendor Finance?
It gives you the quick access to liquidity with short-term loan facility, speedy processing & quick disbursal make the loan unique.
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | |
|---|---|---|---|---|---|
|
7%
|
1%
|
5000
|
3
|
|
|
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|
1%
|
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|
|
|
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|
|
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|
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|
|
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|
|
|
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|
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|
|
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|
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|
|
|
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|
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|
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|
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|
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|
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|
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|
|
|
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|
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|
5000
|
3
|
|
|
9%
|
0.5%
|
1000
|
3
|
|
|
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|
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|
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|
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|
|
|
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|
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|
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|
|
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|
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|
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|
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|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
7% |
|
|
|
7% |
|
|
|
7% |
|
|
|
7% |
|
|
|
7% |
|
|
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|
|
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|
|
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|
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|
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|
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|
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|
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|
This facility works as working capital loan & provides the flexibility to procure high quality of goods & vendor inventory without spending & can do the payment after the goods get sale. It requires minimal documentation which give you the comfortability of availing.
Eligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.
Note: - You can get up to 20 Cr as a maximum loan amount.
There are top factors that generally affects Vendor Finance eligibility criteria as given below: -
Bad Credit score: - Credit score is the reflection of your creditworthiness, if you ever missed or payment taken after due date will affect your credit as well as your eligibility.
Less year of business continuity: - As stated above in criteria that business existing year should be more than 3, wherein less year of business continuity known to be ineligible.
To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Prefer to do payment on time: - Consider this point & make it happen, by doing payment on time whether it's an eligibility bill or existing loan EMI you can build a strong credit score which helps you to get loan easier.
Clear debt: - Try to clear your existing loan as much as easier before applying for new loan as it will help you to show stable income with no debt-to-income ratio lowering.
What are the benefits of Vendor Finance?
It gives you the quick access to liquidity with short-term loan facility, speedy processing & quick disbursal make the loan unique.
Who can apply for Vendor Finance?
You must be self-employed with a minimum of 3 years of business vintage & had filed ITR for at least last 1 year.
What is the current Interest Rate of Vendor Finance?
Vendor Finance Interest Rate starting @16.00% onwards.
How much loan amount can I get through Vendor Finance?
Vendor Finance allows you to get minimum 10 lacs to maximum 20 Crores.
How much processing fee applicable to Vendor Finance?
Generally, up to 2.00% of loan amount is charged as a processing fee to process your loan application.
What is Vendor Finance?
Vendor Finance is a type of loan where vendor acquire loan for their customers, as we all know from manufacturing to selling goods needs much funds. To solve the shortage of funds vendor finance help to fulfill theirs requirements.
How does Vendor Finance works?
Vendor Finance are offered by various bank & FI’s to pay customer & to in-build strong cash flow management of business. Choose your ideal banking partner to avail this credit facility to boost your business Working Capital.
What are the other charges applicable in processing Vendor Finance?
How to get Vendor Finance?
Getting a Vendor Finance much earlier, you have to choose your banking partner & get the application form through their website or visit nearby bank, then request for the application form fill it & attach required document to submit, shortly representative will contact you for further information.
Which are the documents required for Vendor Finance?
Want to get financial service? Advise by CA Vikas Jain
CA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
Read MoreCA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
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