WORKING CAPITAL & TERM LOAN
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INFORMATION
Working Capital & Term Loan
A working capital loan is a loan taken to provide capital to businesses to run their everyday operations. It is not used for long-term assets or investments and is instead used for providing the working capital that will cover a business’s short-term operational needs. It can include the following needs like rent, bills, payroll, debt repay. In short Working capital is simply corporate debt borrowing that is used by businesses to full fill their daily operational needs.
A Term Loan provides a customer with a lump sum of capital in exchange for a specific borrowing term. A Term Loan is normally meant to establish a small business with a sound financial statement. In the exchange of specific cash, the customer agrees to a certain repayment schedule with a fixed or floating interest rate. Term Loan may require substantial down payments to minimize the amount and the total cost of the loan.
Eligibility
Eligibility of borrower depends on the loan or finance requirement and specific criteria fulfillment of the loan type. Though there are some common points which one must consider prior to applying for a loan are as follows Income tax return and salary slip, Average bank balance, Location of residence or business work premises, Existing borrowing status, repayment history, CIBIL Score, selection of financial institution for fund requirement, project presentation and most important personal discussion with the authority where we play a key role with you.
- IT Return
- Salary Slip
- Residence Location
- Work Location
- Existing Borrow Status
- Repayment History
- CIBIL Score
- Selection of Bank/NBFI
- Presentation of Proposal
- Discussion With The Authority