- Procure raw materials
- Purchase inventory
- Pay for overhead costs like electricity, rent, salaries and other utilities
- Finance blocked payments from debtors
- Pay suppliers in advance
- Maintain a healthy level of cash
Fact about working capital Loan
- The interest rate for a working capital loan generally ranges from 12% to 16% and may differ from one bank to another.
- The normal tenor of the working capital generally remains 12 months and comes with flexible collateral options.
- KYC documents for yourself and your promoters (if any).
- Certificate of business registration.
- Bank Current Account statement for the last 12 months.
- IT Returns for six months preceding the loan application date.
- Card settlement records for last three months.
We, at growNance, are a team of professionals providing a bunch of professional services under one roof. We aim at ensuring complete customer satisfaction through 24×7 access to our services and single person contact support to ensure easy and hassle-free services.