Be it an article you were reading, a product you were exploring or a journey you left unfinished, starting from where you left off is simpler than you can imagine. Just register for ‘Everything Me’ using any of your social media accounts and you are all set.
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Each day, you have multiple transactions that are processed via your credit card POS terminal. And now, you can leverage these transactions to avail a business loan to meet your liquidity requirements, effortlessly. With Facility Against Credit Card Receivables, you can avail of a Business Loan or an Overdraft Facility of up to Rs. 3 Crores on the basis of the yearly sales that take place on the credit card POS facility. This means, you can get funds when you need them, without putting up any assets as collateral.
Higher eligibility for Self Employee
Loan amounts of up to Rs. 3 Crores
Flexibility of combining Loan and Overdraft
Lower processing fees
Easy repayment option
Competitive interest rates
Conditions apply. Credit at the sole discretion of the Bank and subject to guidelines issued by the RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
(Original for verification and self-attested copies for submission)
|1||Twelve months' Audited Credit Card Sales Statement|
|2||Basic Financial Documentation|
|3||Application form and request for loan letter on the Merchant's letterhead, duly stamped and signed|
|4||Partnership Deed in case of a partnership firm, Memorandum and Articles of Association with Certificate of Incorporation in case of a Company|
|5||Latest Annual Returns which confirms the list of Directors in case of Private and Public Limited Companies. Audited credit card sales statement giving monthly break-up for a 12-month period on the Chartered Accountant's(CA's) letterhead. The CA auditing this statement should be the statutory auditor of the firm and needs to be the same as that on the latest financials as performed enclosed.|
|6||Audited financials of the business for the last two financial years. For small merchant establishments that are not required to prepare auditedfinancial statements, Income Tax Returns will be accepted instead.|
|7||Net Worth Statement and 6 months' Business Statement|
|8||Individual Income Tax Returns of proprietor/partners/directors (promoters) for the last year|
|9||Copy of proof of identification and proof of address details|
An industry that has so much competition that it is difficult to survive. But that may change if you know the tricks of the trade.