Corporate Loan

When the existing businesses or industrial houses need to generate funds or working capital, they apply for a corporate loan. The fund made available through this loan is used for smooth functioning and takes care of short-term as well as long-term expenses. For instance, it could be used to meet the daily expenses, fund working capital, upgrade machinery and for any other expansion related activities.

Corporate loans can either be secured or unsecured. Secured loans demand a business asset as collateral as a part of security. In case of non-payment of loan, the lender can seize the asset to claim the unpaid amount. If you apply for secured loans, you can benefit from a lower rate of interest, higher borrowing limits and longer repayment terms compared to unsecured loans.

Unsecured loans are generally given for immediate fund requirements by businesses. No form of security is required to be mortgaged. However, to avail unsecured loans, you need to have high credit ratings.

Features:

• Flexibility to meet company or corporate-body needs
• Collateral required
• Equity Contribution of 30% is required
• Up to 48 months tenure
• Loan amount is dependent on business cash flow

Requirements

• The company should have a strong credit rating, along with a record of successful business
• Identity proof – passport, PAN card, voter’s ID, driving license
• Address proof – electricity bill, ration card, trade license, etc.
• Records and balance sheets of past 3 years
• The company must have an account with us
• Tax income certificate