Term Loan/Cash Credit
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Term and CC Loan
Are you looking to apply for a Term Loan for expansion of your business? If you need urgent financing to expand your business or buy machinery and equipment for your organisation, you can opt for a Term loan, upgrade your business equipment or grow your business, you can apply for a Term loan to help your business flourish.
Small and medium businesses go for term loans to cater to their working capital and expansion fixed asset needs.
It is called a “term loan” because it is typically repaid over a fixed period of time, or “term,” which usually varies between 3 to10 years. The loans may have a fixed or variable interest rate.
You can avail term loans through both secured and unsecured credit. This will, however, depend on the eligibility of the borrower.
You need to pay EMIs as per the repayment schedule. For example, every term loan has a fixed repayment schedule. You can calculate their EMIs with the help of an online EMI calculator.
You can easily avail these loans without going through much hassle. The application process is easy.
Documents Required
1. MSME or Udyam Certificate
2. GST Certificate
3. Shopact License
4. Business Profile (if applicable)
5. ITR (Income Tax Return) for the Last 3 Years with 26AS
6. Financial Audit Report with CA Certification (if applicable)
7. List of Debtors and Creditors as of the Current Date with CA Certification
8. Tentative Balance Sheet as of the Current Date with CA Certification
9. Stock Statement as of the Current Date with CA Certification (if applicable)
10. Projected Report for the Next 5 Years with CA Certification (if applicable)
11. Nil Statutory Dues with CA Certification
12. GST R1/3B for the Last 1 Year
13. Current Business Photograph
14. Work Order
15. Purchase Order
16. Bank Statement for the Last 1 Year
– Current Account
– Savings Account
– Cash Credit Account
17. All Loan Statement of Account (SOA) (if applicable)
18. Address Proof for Office, Shop, Factory
– If Own: Latest Light Bill, Index II, Latest Property Tax
– If Rental: Registered Rent Agreement, Notary Agreement
19. Current Account Statement (Address Proof)
20. Net Worth Certificate for the Last Year on CA Letterhead with Certification
21. Aadhar Card
22. PAN Card
23. Passport Size Photos – 4
24. Residential Address Proof
– If Own: Latest Light Bill, Index II, Latest Property Tax
– If Rental: Rent Agreement, Latest Gas Receipt (Passbook, passport, LIC Policy, Telephone Bill)
1. Business Documents:
- MSME or Udyam Certificate
- Company Pan Card
- GST Certificate
- Shopact Licence
- Business Profile
- Registered Partnership Deed OR Notarized Agreement
- Income Tax Returns (ITR) for the Last 3 Years with 26AS
- If available, include Financial Audit Report with CA Certification
- Debtor and Creditor List as of the Current Date with CA Certification
- Tentative Balance Sheet as of the Current Date with CA Certification
- Stock Statement as of the Current Date with CA Certification
- Projected Report for the Next 5 Years with CA Certification
- Nil Statutory Dues with CA Certification
- GST Returns (R1/3B) for the Last 1 Year
- Work Order, Purchase Order, Current Business Photograph
- Bank Statements for the Last 1 Year, including Cash Credit Account
- Loan Statements of Account (SOA) for the Company (If applicable)
- Address Proof for Office, Shop, and Factory If Own: Latest Light Bill, Index II, Latest Property Ta If Rental: Registered Rent Agreement, Notarized Agreement, Current Account Statement
2. Documents for All Partners in the Business:
- MSME or Udyam Certificate (If Applicable), GST Certificate, Shopact Licence
- Income Tax Returns (ITR) for the Last 3 Years with 26AS (If Applicable)
- If available, include Financial Audit Report with CA Certification (for each partner’s individual ITR)
- Debtor and Creditor List as of the Current Date with CA Certification (If Applicable)
- GST Returns (R1/3B) for the Last 1 Year (If Applicable)
- Bank Statements for the Last 6 Months, including Savings, Current, and Cash Credit Accounts (If Applicable)
- Net Worth Certificate for the Last Year on CA Letterhead with Certification for All Partners
- Loan Statements of Account (SOA) for Each Partner (If Applicable)
- Aadhar Card, PAN Card
- Passport-size Photos for All Partners (4 each)
- Bank Statements for the Last 1 Year for Current & Cash Credit Account for All Partners
- Residential Address Proof
– If Owned: Latest Electricity Bill, Index II, Latest Property Tax Receipt
– If Rented: Rent Agreement, Latest Gas Receipt, Passbook, Passport, LIC Policy, Telephone/Mobile Bill (as applicable)
1. Latest MSME or Udyam Certificate, Company PAN Card
3. GST Certificate, Shop Act License
5. Memorandum of Association (MOA)
6. Memorandum of Understanding (MOU)
7. Incorporation Certificate
8. Company ISO and Other Certificates
9. Business Profile
10. Latest 3 Years’ Income Tax Returns (ITR) with 26 AS
– If Available: Financial Audit Report Certified by a Chartered Accountant
11. List of Debtors and Creditors as of the Current Date Certified by a Chartered Accountant
12. Tentative Balance Sheet as of the Current Date Certified by a Chartered Accountant
13. Stock Statement as of the Current Date Certified by a Chartered Accountant (If Applicable)
14. Projected Financial Report for the Next 5 Years Certified by a Chartered Accountant
15. Certificate of Nil Statutory Dues Certified by a Chartered Accountant
16. Latest 1 Year GST R1/3B Returns
17. Work Orders
18. Purchase Orders
19. Current Photographs of the Business Premises
20. Latest 1 Year Bank Statements for the Current Account and Cash Credit Account
21. Statement of Accounts (SOA) for All Loans of the Company
22. Address Proof for Office, Shop, and Factory
– If Owned: Latest Electricity Bill, Index II, Latest Property Tax Receipt
– If Rented: Registered Rent Agreement, Notary Agreement, Current Account Statement as Address Proof
23. List of Documents for All Partners in the Company
24. Aadhar Card and PAN Card for All Partners
25. Passport-sized Photos for All Partners (4 each)
26. Latest 1 Year Bank Statements for Saving Accounts of All Partners
27. Residential Address Proof
– If Owned: Latest Electricity Bill, Index II, Latest Property Tax Receipt
– If Rented: Rent Agreement, Latest Gas Receipt, Passbook, Passport, LIC Policy, Telephone/Mobile Bill (as applicable)