Short Term Loan

When your business doesn't qualify for a line of credit from a bank, you might still have success in obtaining money from then in the form of a one-time, short-term loan (less than a year) to finance your temporary working capital needs. If you've established a good banking relationship with a banker, he or she might be willing to provide a short-term note for one order or for a seasonal inventory and/or accounts receivable buildup.

Advantages

• It can be raised in short period.
• Bad Credit Accepted.
• Limited Paperwork.
• Suitable for a wide range of business purposes.

Features

• Loan amount from INR 1 Lac to INR 50 Lacs
• Customised credit criteria
• No prepayment charges
• Loan tenure of 6 months to 3 years

Documents Required

• VAT returns for the last 12 months
• ITR – Financial documents for the last 2 years
• KYC documents of the applicant and the organisation
• Bank statements for the last 6 months
• Loans or overdraft sanction letters (if any)