What are the mandatory documents required?
- 2 Passport sized photographs
- Latest 1 year Bank Statement
- Office address proof
- Land documents
- Personal identity & residential proof
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | |
|---|---|---|---|---|---|
|
7%
|
0.50%
|
5000
|
12
|
|
|
9%
|
0.50%
|
5000
|
12
|
|
|
9%
|
0.50%
|
5000
|
12
|
|
|
9%
|
0.50%
|
5000
|
12
|
|
|
7%
|
0.50%
|
5000
|
12
|
|
|
9%
|
0.50%
|
5000
|
12
|
|
|
9%
|
0.50%
|
5000
|
12
|
|
|
7%
|
0.50%
|
5000
|
12
|
|
|
7%
|
0.50%
|
5000
|
12
|
|
|
7%
|
0.50%
|
5000
|
12
|
|
|
9%
|
0.50%
|
5000
|
12
|
|
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|
7%
|
0.50%
|
5000
|
12
|
|
|
9%
|
0.50%
|
5000
|
12
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
7% |
|
|
|
9% |
|
|
|
9% |
|
|
|
9% |
|
|
|
7% |
|
|
|
9% |
|
|
|
9% |
|
|
|
7% |
|
|
|
7% |
|
|
|
7% |
|
|
|
9% |
|
|
|
7% |
|
|
|
9% |
|
Warehouse facilities aid to get quick access to liquidity, Traders engaged in commodities able to get warehouse receipt financing against pledging goods carried on warehouse. Suppose the borrower fails to pay-back the loan then, lenders take the inventory & sell in to market to balance the loan amount.
Eligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.
Note: - You can avail up to 1 Cr as a maximum loan amount.
There are top factors that generally affects Warehouse receipt finance eligibility criteria as given below: -
Low business ventage- Lender check years of business continuity as to measure the creditworthiness of company existing performance. Generally, for availing this type of facility 3 year of business continuity required. Due to low business ventage your chances get lowered.
NIL Collateral- If you have low credit score range, then collateral is the essential way to fulfil the requirements, in case you don’t own any collateral/assets to pledge then most probably lender won’t approve your application due to high risk in applicant profile.
To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Maintain proper credit report: - By maintaining credit report you can be able to enjoy benefits like negotiating interest rates, easy approval of credit & loan. Just you are required to pay bills on time as it aids to increase credit score as well as eligibility.
Clear existing debt before opting for new: - Lender look forward to your application whether you have any existing loan, paying interest for earlier loan will affect new loan application. Hence, try to clear it as much as possible.
What are the mandatory documents required?
What will be the maximum loan amount for Warehouse Receipt Finance?
There are various factors that determine maximum loan amount, in case-to-case things get varied.
Who are eligible for Warehouse Receipt Finance?
How much processing fee will be charged for Warehouse Receipt Finance?
Usually, Lender impose an fee for processing loan applications which would be 0.50% - 2% of total loan amount vary from banks to banks.
How much credit score required for Warehouse Receipt Finance ?
For getting Warehouse Receipt Finance you must have credit score above 750 as much as the higher credit score is that much possibility of getting loan increase with that it also provides you the benefit to negotiate better rates & terms.
What are the benefits of Warehouse Receipt Finance?
What is Warehouse Receipt Finance?
Warehouse Receipt Finance help in reducing tense of finance, pledge your Warehouse Receipt to get instant access to liquidity.
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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