Working Capital Finance Services

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Sold By : Rupyaa Paisa Financial Services

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Product Specifications

Business TypeService Provider

Preferred Buyer From : All over the world

Product Overview

Overview :

Cash Credit
Term loans
Letter of Credit/ Buyer's credit
Export Finance
Vendor/ Supplier/ Dealer finance
Bank Guarantee

Eligibility :

Entities which are 3 years in existence, and 2 years into same line of business is eligible for this facility.
This facility is available to all segments of business - manufacturers, traders, services, educational trusts etc.
The financials should be audited, and the entity should be in profits.
Collateral is required for this facility. The amount of collateral required depends on the policies of the bank. Some accept at 50%, and vary upto 150% of the collateral requirement.
The company should not be under default category, as listed by the RBI
Cheque bounces/suit filed/write off are considered adversely by the banks, unless backed by sufficient reasoning/documents for justifying the same.

More About Information for Working Capital Finance Services : Working Capital finance is granted to meet the financial gap or the time lag between purchases and the resultant cash derived from sales. It is used to meet the regular day to day expenses. This finance is provided in form of cash credit, overdraft, term loan, letter of credit, bank guarantee, working capital demand loan/term loan, post shipment and pre shipment finance, as the need may be to the manufacturer/trader.

Documentation

Document Required	Detailed List
Application form	Duly signed application form by the firm/company applying for working capital finance.
KYC Documents	Business proof - Shop establishment/certificate of incorporation/partnership deed. PAN card of entity/partners/directors, guarantors. Address proof of entity/partners/directors, guarantors.
Financials	3 years Audited balance sheet/P&L with schedules to balance sheet. Acknowledged copy of IT returns filed for the last 3 years. Current year performance till date along with projected performance for the year. VAT returns justifying sales for the current year.
Bank Statement	Latest Bank statement for the last 6 months (new proposal) and 12 months (Take-over proposals). The statement of account should be of the operating account.
Order Status	Present status of orders on hand.
Collateral Documents	The latest sale deed along with parent documents for the last 30 years for the property to be submitted as collateral. Along with the government approvals, latest paid water/property taxes.
Post Sanction Documents	As stipulated by the bank.