Check your Working Capital Finance Eligibility
Running a successful business is challenging especially when one’s focus is on getting funds into place – instead of the business in hand. In order ensure that you and your business focus on your core potential we at WWF offer comprehensive and integrated working capital finance services. This can be made available through modes such as trade credit, cash credit, working capital loan, bank guarantee, bill-discounting etc.
Different Modes through which we provide Working Capital Finance to Customers.
- Fund Based Working Capital Finance
- Cash Credit :
A running account facility that can be extended for a short period of time and will be reviewed regularly. For this mode; banks generally help in lending money against any stock or debt, while the borrower is assured with the money is available any time – he/she only pays interest on the money utilised. An account closure can be initiated once the amount is totally repaid.
- Bank Overdraft :
The most productive fund that is used by all small and big businesses. In this particular amount limit is sanctioned for utilizing the payments. The one thing a borrower should make sure is that it should not cross the sanctioned limit.
- Non- Fund Based Working Capital Finance
- Bank Guarantee :
A non-fund based working capital – a bank guarantee in simple terms is a guarantee given by the bank on the behalf of the buyer to cover the risk of the seller if the payment from the buyer is not honoured. The bank takes complete responsibility of the seller and charges a commission from the seller as a form of security.
- Letter of Credit :
Through letter of credit the buyer can make the bank pay the seller on his behalf as per the agreed performance of work and later the buyer can return the amount to bank.
Eligibility For Working Capital Finance
- Working Capital Loans = Financial assessment & Valuation of property provided as security
- Age limit 18 - 70 years for Working Capital Loan. However, some banks Have different age limits for self-employed and self-employed professionals
- Sole proprietorship, Partnerships, Private and Public Limited Companies are eligible for Working Capital Finance.
- Working Capital Finance can be arranged for new business entities also.
Documents Required For Working Capital Finance
- Filled Application form
- Applicant & Co-Applicant KYC : Pan Card, Aadhar Card, Driving License, Passport, Residence Electricity Bill of Promoter/ Partners/ Directors.
- Proof of Business: PAN for Partnership & Pvt Ltd, Partnership Deed in Case Of Partnership Firms, MOA & AOA with Incorporation Certificate for Pvt Ltd Firm, Shop Act Licence, UAN Certificate, GST Certificate, VAT Certificate, TIN Certificate.
- Proof of Income: IT Returns with Computation of Income , Balance Sheet with Audit Report for last 3 years along certified by CA.
- Banking: Last 12-months bank statement for operative account both professional and business.
- Previous Loan Sanction Letters and 1 Year GSTR3B Challans.
Property Documents for Self Employed:
Copies of all property documents of the concern property that you chose to pledge for the loan:
- Registered Agreement,
- Copy of Approved Sanction Plan
- NA Order
- 7/12 Extract
- Property Development Agreement
- Title Search Report
- Commencement Certificate
- Completion Certificate
- Private Limited Company
- Public Limited Company
- Sole Proprietorship Firm
- Partnership Firm
|Banks Name||Interest rate||Processing fees|
|Andhra Bank||MCLR Rate + Applicable Bank Rates||1% + GST|
|Bank Of Baroda||MCLR Rate + Applicable Bank Rates||1% + GST|
|Canara Bank||MCLR Rate + Applicable Bank Rates||1% + GST|
|South Indian Bank||MCLR Rate + Applicable Bank Rates||1% + GST|
|Axis Bank Ltd||10.50%||1% + GST|
|Detusche Bank||10.00%||1% + GST|
|HDFC Bank Ltd||9.50%||1% + GST|
|ICICI Bank Ltd||10%||1% + GST|
|IDFC Bank First Ltd||10.50%||1% + GST|
|Indusind Bank Ltd.||12.25%||1% + GST|
|Kotak Mahindra Bank||10%||1% + GST|
|Ratnakar Bank Ltd||10.50%||1% + GST|
|Standard Chartered Bank||9.50%||1% + GST|
|Tata Capital Financial Service||10.50%||1% + GST|
|Yes Bank||9.50%||1% + GST|
|NKGSB||11%||1% + GST|
|SVS Co. Op. Bank||12%||1% + GST|
|Abhyudaya Co. Op Bank||13%||1% + GST|
|IFCI||12%||1% + GST|
|STCI Finance||11%||1% + GST|