A Business loan is a kind of a term loan offered by Banks/NBFCs which ranges up to 50Lakhs. These loans
are generally
offered for short tenure up to and of maximum 5 years. For these type of loan, repayment mode will be
through EMI, i.e.
Equated Monthly Installments. Hence the borrower will become debt free within short period of time.
This Kind of facility is offered by some lenders without hypothecating any kind of collateral. Lenders
offer certain
limit, and interest is paid only for the amount utilized for the number days. This facility is very
friendly and easy to
use, since it is a VIRTUAL OD, and there is no need for opening any kind of bank account.
This type loan is specially generated for Small Scale Proprietorship Firms. Generally the loan amount
offered ranges
from 1.00 Lakh to 25 Lakhs with a short tenure up to and of maximum 5 years. This type of facility would
be very helpful
for small scale businesses, who are finding difficult to manage their operations.
Vendor finance is specially offered to vendors, suppliers and services providers to large corporates.
These Large
corporates are defined as companies with turnover 250.00crs. The vendor should be receiving a minimum
average monthly
credits of Rs. 10.00Lakhs from these large corporates. The loan amount offered to these vendors ranges to
a maximum of
75 Lakhs with a short term tenure of 3 years.
This type of facility is also called as “PURCHASE FINANCE”. Traders, manufactures and service providers
who purchase
their raw materials or trading goods from large corporates or channel partners of large corporates. The
client should
maintain a minimum average purchase order value of Rs. 10.00Lakhs to these large corporates. The loan
amount offered to
these vendors ranges to a maximum of 75 Lakhs with a short term tenure of 3 years.
This Facility is specially offered to only retailers. Loan Against card sale is offered by lenders, based
on the
retailer’s monthly electronic sales. The maximum loan amount offered would range to a maximum of 10.00
Lakhs.
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