Cash Credit
Cash Credit
What would a company do when it plans to meet its working capital needs?
The best way is to go for cash credit, which is a loan offered by banks and financial institutions to company or entity. Once the bank gets the required security from the company, it gives the freedom of withdrawing money (as mutually agreed and depending on the capability of the company) and meet its requirements.
With cash credit loan, a company can meet its varied requirements inducing buying of raw materials, purchasing of machineries or buildings. This loan account is pretty much similar to the current account but gives more flexibility and more chances of using excess money than the account holds. In a way, cash credit helps businesses a lot as it gives them money when their account does not have any.
Features of Cash credit:
Our team of experts compares & offers you the best available rates and charges. We promise to give to the complete clarity on process of your loan applications, About the Applicable charges & proper update on status of loan application
- Faster loan Sanction.
- Quick Disbursement.
- Easy documentation
- Tax-deductible
- Source of working capital financing.
Rate of Interest and Loan Amount
The Factor depend on rate of interest and the eligibility are:-
- The company should be continue for the last 3 years at least
- It should be either a proprietorship or partnership or Pvt. Ltd company
- The company should have operational facility at one place for the last 1 year
- The company should have a clean credit history
- No legal issue should exist with the title to the property
- The company should meet the minimum turnover requirement set by the bank, as it varies from bank to bank
Contact us to gain more information about cash credit loan.
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