Business Loan consultant in Mumbai

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Every Corporate/Firm/Entity has working capital loan requirement to meet the entire range of short-term fund requirements that arise within their day-to-day operational cycle.

Working capital loans can help company in financing inventories, managing internal cash flows, supporting supply chains, funding production and marketing operations, providing cash support to business expansion and carrying current assets.

After establishment of a business, funds are needed to carry out day-to-day operations e.g., purchase of raw materials, payment of rent and taxes, telephone and electricity bills, wages and salaries, etc.

Target / Eligibility

• Proprietorship Firm
• Partnership Firm
• Private Limited / Limited Company

Purpose

Cash Credit facility is given against stock, so if any company is require to hold inventory in volume and for a long period, Cash Credit facility helps in keeping the inventory position. Generally bank finance 75% of the inventory value held by company on a particular day. The other mode of working capital finance is in the form of Book Debts, which is against Sundry Receivables. In all type of industry there is a trend of giving credit to its customer in order to increase the margins and sales. Bank finance 50 – 60 % of these receivables who are below 90 days. Non-funded instruments comprise letters of credit (inland and overseas) as well as bank guarantees (performance and financial) to cover advance payments, bid bonds etc.

Type of Finance

There are many types of working capital finance. It is normally in the form of Fund Based Finance and Non Fund Based Finance depending upon the requirement of Industry, Trade and Service Sector. Fund based facilities include cash credit, demand loan and bill discounting. Demand loans are considered also under the FCNR (B) scheme.

Banker

• State Bank of India
• Corporation Bank
• Canara Bank
• Bank of Baroda
• Dena Bank
• Central Bank of India

Security

Further these loans attract collateral security depending upon size and profile of the company. Some times it may require minimum of 75% and maximum 100% collateral as well depending upon the promoters, company’s profile and the industry. Collateral security should be in the form of Immovable Property either Residential Flat / Commercial Office / Shop. It should be in the name of Promoter, Director or any other related person, whose guarantee would also be required

Interest rate

Rate of Interest is subject to Company’s financial and managerial strength, Security offered and other factors roughly ranges from 11.05 to 14.50 %

Special Features

• Working Capital requirement is assessed based on Next years Projections
• Maximum funding will be 20% of Projected turnover of Next Year subject to working capital cycle
• For take over proposal, firm should be in profit for last two years

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Established in year 2006, SR Corporate Services Pvt. Ltd. is a dynamic company driven by next generation entrepreneurs, who have imbibed values like trust and dependability into the very core of the company. It offers a comprehensive range of services for business set up including Entity Setup, Talent Solution, Accounting & Compliance, Consulting and Assurance Services. Today, being SR's client allows a company convenient access to a substantial knowledge base across various disciplines and strong resource support from team members spread across all the major cities in India.

The company equally is strong in providing the financial solutions to various SMEs in India through various financial institution and Banks. Our Financial solution products have a wide range for various business needs.

In general, project finance covers green field industrial projects, capacity expansion at existing manufacturing units, construction ventures or other projects. Capital intensive business expansion and diversification as well as replacement of equipment may be financed through the project term loans.

We liaison with following banks for our client requirements.

• State Bank of India
• Corporation Bank
• Canara Bank
• Bank of Baroda
• Dena Bank
• Central Bank of India
• SIDBI
• HDFC Bank
• SBI Global Factors
• CanBank Factors

Following are the various products which are dealt with and advised to client as per their requirements.

1. Working Capital Loan
2. Working Capital Demand Loan
3. Term Loan For SME
4. Bill Discounting
5. Unsecured Loan under CGTMSE
6. Unsecured Business Loan
7. SBI Loan Against Property
8. Loan Against Property
9. Loan Against LIC Policy
10. Loan Against Gold
11. Loan Against Shares

Type of the client served

• Traders
• Manufacturer
• Service Sector
• Existing as well New Start Ups

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A loan against property (LAP) is exactly what the name implies, a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property's market value, usually around 50 per cent to 60 per cent. Loan against property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. This can be taken in the form of Working Capital as well as Term Loan depend upon the requirement of the client.

The purpose of the loan is not definite; one can use it for personal or commercial as well. In certain bank this product is designed to meet the requirement of entry level entrepreneur, who does not have any track record of business. They can use this product by way of term loan or working capital facility. Purpose of the loan is to encourage SME green field projects which are at inception and because of lack of capital they could not grew.

Procedure involves in this product is relaxed a bit and also rate of interest charged and processing fees is quite attractive. Once the loan is availed the same can be converted into a regular limit after certain period and of course, depend upon financial performance of the company.

Target / Eligibility

• Any entity engaged (proprietorship, partnership or private limited / public limited company) into trading business or Manufacturing/Service sector (Excluding Educational Institutions, Self Help Group, Joint Liability Groups).

Purpose

• To provide credit for business requirement of MSME borrowers against the security of unencumbered Land and Building belonging to the unit or promoters of the unit or close relatives of the promoters.

Type of Finance

• Term loans
• Working capital loan (Fund based and non fund based)
• Drop line overdraft facility.

Quantum of Finance

• Loans upto Rs 20 crores

Security

• Mortgage of immovable properties with value of 100% to 125% of the loan amount .
• Agricultural Property is prohibited. Agricultural Properties should not be taken as security under this scheme.
• Vacant land shall not be accepted as security.

Interest rate

• Interest rate ranges from 11.05 to 13 %

Special Features

• Working Capital requirement is assessed based on Next years Projections
• Maximum funding will be 20% of Projected turnover of Next Year subject to working capital cycle
• Relaxation in various condition like submission of stock statement, quarterly audit etc.