Business loan help businesses in expanding their commercial activities. Business Loan can be availed for all business purposes like working capital requirement, purchasing of fixed assets, capacity expansion/ modernization, technology up-gradation, Research and Development or any other short-term requirement. Every business requires financial assistance to fuel the growth and for expansion of the business.
The ideal solution is to acquire a flexible business funding against unencumbered security. Business loans help in short term finance and working capital requirements. Customized business loans can help you in grasping business opportunity that comes your way.
A self-employed individuals / business owners in the age group of 21 to 65 years can apply for business loan. The business needs to be in continuity for the last 3 years showing positive turnover and profit for the last 2 years.
Business loans can be sanctioned for a maximum tenure of 48 months in case of secured loan and up to 36 months in case of unsecured loan.
Normally lender charges a fee of up to 3.5 % of loan amount towards the processing of loan. The lender may charge you a penalty for early closure of loan.
The document required for processing of business loans are:
Interest and other charges to be charged upon the loan shall be as per the schemes circulated from time to time. The interest rates are decided based on gradation of risk policy. The interest shall be calculated for the number of days the loan remains outstanding, including the date of loan disbursement and the date of repayment. However, if the borrower closes the loan within 7 days from the date of disbursement, then a minimum interest for 7 days shall be payable. The Borrower shall pay the interest along with the principal and penal interest of penalties if any on or before 15th day of every month starting from the month which follows the month in which the Loan is disbursed to the Borrower by the Lender. Such repayments of Loan shall continue until the date of complete repayment of loan.
| Loan Tenure (months) | Slab | ROI (P.A) | Annualized ROI | Amount Limit |
|---|---|---|---|---|
| 6-24 months 6-36 months 36 months above |
18-24% 18-24% 18-24% |
18-24% 18-24% 18-24% |
50 k to 200 k 50 k to 200 k 50 k to 1500 k |
|
| Interest Rate | 18 % to 24% | |||
| Processing Charges | Rs 1000/- or 3.5% of Loan value (whichever is higher) | |||
| Loan Amount | 10,000/- to 15,00,000/- | |||
| EMI Bounce Charges | Rs 500 + GST | |||
| Prepayment Charges | Not permitted before 6 months. After 6 months , 5 % of principle outstanding + GST. | |||
Note: Above mentioned figures are subject to change
The borrower can pay EMI either by cheque or through ECS i.e. electronic clearing system. In case of payment made through cheques, the borrower has to give post-dated cheques in advance. However, in ECS system of payment, the borrower has to give standing instructions to the lender for accepting the debit of the EMI amount. An application form for activating ECS system should be submitted by the borrower.
Swadha Finlease ensures to provide efficient and fast processing of business loans. The loan sanction and its disbursement process are really quick so that the borrower doesn’t face any hassles when funds are required. After submitting the loan application by the applicant, we shall approve loan in a minimum period.
In case the EMI cheque bounces or ECS/NACH system fails to credit the EMI, a charge of Rs._500/- (excluding GST) as penalty will be levied by the lender. Also, in case of delay or default on the borrowers’ end to make payments towards EMIs, we will charge a late payment fees on the outstanding loan amount at the rate of 3% from the default date.
Term loan can be taken by individuals or business entities to fulfill sudden or unexpected cash requirements or managing the cash flow during shortage of funds. In comparison to others it is relatively taken for a shorter period. Despite of insufficient capital, it helps businesses in keeping operations and the payroll ongoing. Not only business entities, individuals can also get loans for meeting immediate capital needs for personal reasons.
In case of temporary funds shortage, businessmen can also take loan for maintaining cash flow and financing business capital needs.
For personal needs, salaried employees and self-employed professionals can also take short term personal loans like consumer appliances and electronics such as smart phones and laptops or similarly to manage sudden capital needs during a momentary cash crunch.
With Swadha Finlease, term loan is faster and cheaper than many other financial institutions. It gives fair chance to every borrower to prove his/her creditworthiness on a more accurate and richer scale rather than just on the basis of credit score.
No registration fee is required to be paid. This is an offer for a limited time. Swadha Finlease will charges a processing fee in between 2-6% of loan amount at the time of disbursement. Processing fees will be as per standards prescribed by RBI for NBFCs. The borrower will be told about it beforehand.
“Swadha Finlease Private Limited” incorporated on 19th June,2019 , classified as Non-Deposit taking Non-Banking Financial Company (NBFC).
Swadha Finlease emphasizes on residential properties for collateral, appraising loans which will be verified as per cash-flow; and most importantly, loans meant for productive business deployment which has to be demonstrated at the time of loan appraisal – all of which is aimed to help small business owners further their business plans.
Loan against Property has always been towards easing the path to success for our customers. Committed to ease this path, Loan against Property (LAP), a mortgage loan, will take care of your financial needs while you can direct all your attention towards your business. Helping you leverage the value of your residential/commercial property, we will ensure that your enterprise does not feel the crunch of working capital which paralyses many a stable business.
We will provide you LAP with maximum finance against the market value of your property. You can continue to occupy the property while we fund you for the healthy growth of your business. We ensure quick approvals and disbursals, safe documentation and doorstep service for loans for desired end use. Small and mid-sized businesses, partnership firms, self-employed professionals and private or closely held companies are eligible for LAP.
You can generate funds by unlocking the property value along with the benefit of staying in your own home. You can tend to your need for immediate personal expenses such as New Business funding or Business Expansion etc. LAP has reasonable interest rates to accommodate your emergencies. The Loan limit will be determined subject to valuation certificate from the Chartered Accountant and circle rate of property. The ratio of sanctioning loan amount will be the desecration of company.
| Loan Against Property | |
|---|---|
| Maximum Quantum of Loan | Rs. 15 lakhs |
| Maximum Repayment Tenure | 4 Years |
| Allowed Margin | _100_% of the acceptable security value |
| Interest Rate | Processing Fees | Foreclosure Charges |
|---|---|---|
| 12-24% | 1% of the loan amount + GST (as applicable) | 5% of outstanding + GST (as applicable) |
The eligibility criteria for loan against property may vary from bank to bank.
Common eligibility conditions are listed below that a borrower needs to fulfill in order to get a loan against property:
While determining loan against property, banks mostly look at the following factors such as property value, repayment capacity, total assets and liabilities, age of the applicant and his/her qualifications, number of dependants, spouse’s income, and legal and technical aspect of your property. Based on your eligibility, bank will decide how much amount you would receive as loan against property.
*Please note that the list of documents mentioned is indicative. During loan processing, additional documents may be needed. You will be informed about these when required.
Banks have a process to get the verification done for all the documents submitted by borrowers to check the authenticity of the documents. These documents include all the KYC’s, financial s as well as the other documents asked by the lender.
Sanction of the loan(s) is at the sole discretion of the NBFC and is subject to execution of necessary documents, providing any security (ies) and other closing formalities to the satisfaction of the concerned Lender.
Loan Disbursement Committee is constituted for effective coordination, monitoring, as well as enforce the utilization of the loan to achieve best results.
The loan Disbursement process mainly consists of four simple steps:
Details of the Loan Disbursement Committee Chairman :- Rakesh Agrawal
Member 1 :- Amit Kumar Sharma
Member 2 :- Jayant Singh
Ph. No. :- 0771 4905836
Email Address:- swadhafinlease@gmail.com
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