| Bank Name | Maximum Loan Amount |
|---|
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Bank of Baroda
|
7% | 1% | 5000 | 3 |
|
|
Bank of India
|
7% | 1% | 5000 | 3 |
|
|
Bank of Maharashtra
|
7% | 1% | 5000 | 3 |
|
|
Central Bank of India
|
7% | 1% | 5000 | 3 |
|
|
Indian Bank
|
7% | 1% | 5000 | 3 |
|
|
Indian Overseas Bank
|
7% | 1% | 5000 | 3 |
|
|
Karnataka Bank Ltd.
|
7% | 1% | 5000 | 3 |
|
|
Punjab & Sind Bank
|
7% | 1% | 5000 | 3 |
|
|
Punjab National Bank
|
7% | 1% | 5000 | 3 |
|
|
State Bank of India
|
7% | 1% | 5000 | 3 |
|
|
UCO Bank
|
7% | 1% | 5000 | 3 |
|
|
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Union Bank of India
|
7% | 1% | 5000 | 3 |
|
|
United Bank of India
|
7% | 1% | 5000 | 3 |
|
|
Axis Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
Bandhan Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
City Union Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
DCB Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
Digibank (DBS)
|
9% | 0.5% | 1000 | 3 |
|
|
Federal Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
HDFC Bank Ltd
|
9% | 0.5% | 1000 | 3 |
|
|
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ICICI Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
IDFC First Bank
|
9% | 0.5% | 1000 | 3 |
|
|
IndusInd Bank
|
9% | 0.5% | 1000 | 3 |
|
|
Kotak Mahindra Bank
|
9% | 0.5% | 1000 | 3 |
|
|
RBL Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
South Indian Bank Ltd.
|
9% | 0.5% | 1000 | 3 |
|
|
YES Bank Ltd.
|
9% | 1% | 1000 | 3 |
|
|
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.
Vendor Finance Eligibility CriteriaEligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
Note: - You can get up to 20 Cr as a maximum loan amount.
What are the factors generally affecting Vendor Finance Eligibility Criteria?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.
What are the ways to increase Vendor Finance eligibility?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.
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 CARD ,PAN ,ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST1 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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It gives you the quick access to liquidity with short-term loan facility, speedy processing & quick disbursal make the loan unique.
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You must be self-employed with a minimum of 3 years of business vintage & had filed ITR for at least last 1 year.
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Vendor Finance Interest Rate starting @16.00% onwards.
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Vendor Finance allows you to get minimum 10 lacs to maximum 20 Crores.
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Generally, up to 2.00% of loan amount is charged as a processing fee to process your loan application.
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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.
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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.
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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.
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CA Vikas Jain - Our Mentor
9863-02-02-02