HYPO Cash Credit
Flexible working capital solutions for business growth
Purpose
- Hypothecation Loan is provided for the purpose of growth of a firm or company.
- This type of loan can be considered for SSI, other manufacturing and processing industrial unit.
Eligibility
- Principal Collateral: Inventory and Book Debts (within 90 days)
- No additional collateral security is required for Loan accounts up to 5 lakhs Limit.
- For Loans above 5 Lakhs, borrower must provide immovable property as collateral equal to loan amount
- Loan Limit: Subject to individual and group loan limits
- Two Income tax Paying guarantors are required
- Having sufficient score in Cibil’s reports
- Limit up to Rs. 240 Lakhs for Individual & Limit up to Rs. 400 Lakhs for group
- Borrower / Partners / Directors / Guarantors must be a member of the Bank.
Documents Required
- KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, residence proof
- Residential Proof / Light Bill N.A.Tax Receipt
- Business proof
- Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years Certified by C.A. with UDIN No.
- Latest Stock Statement
- Latest Bank account Statement of Other Banks for previous six months, If Any.
- Top 5 Customers Sale & Purchase
- Statement of Sundry Creditors and Sundry Debtors Outstanding (Age Wise)
- Challans of Payment of Statutory Dues for Last Two Years
- Shop act / Drug / VAT / Excise / Pollution Control / B.S.T., C.S.T., S.S.I. or other licenses
- Certificate of Incorporation
- Brief History of Business and Promoters Education & Experience
- Constitution Address of Office, Date of Establishment, Name of Prop/Partners/Directors
- Capital in Business
- Nature of Activity, Turnover, Bankers Name & Branch with Credit Facility