Working Capital Features

Features and Benefits of our Working Capital

• Swift and Convenient Access: Working capital loans are designed for quick access to funds, enabling businesses to promptly address immediate financial requirements and capitalise on time-sensitive opportunities.
• Flexible Repayment Terms: Lenders offer a range of repayment options, including fixed or variable interest rates and terms customised to suit the specific needs of the business. This flexibility allows businesses to choose a repayment structure aligned with their cash flow.
• Efficient Application Process: : Efficient Application Process: In contrast to traditional bank loans, working capital loans typically boast a streamlined application process, demanding minimal documentation and less stringent eligibility criteria.
• Facilitation of Business Growth: By infusing working capital, businesses can invest in growth initiatives such as expanding operations, purchasing inventory, upgrading equipment, or implementing marketing strategies. This can lead to increased revenue and profitability.
• Effective Debt Management: Working capital loans can be utilised to consolidate higher-interest debt, enabling businesses to streamline their debt obligations and potentially reduce overall interest expenses.

Eligibility Criteria for Working Capital

Contrasted with conventional banks, People Grow Financial Solution offers more flexible eligibility criteria for working capital loans. Here are the prerequisites for obtaining such a loan:

• Business tenure of at least 3 months.
• Minimum turnover of ₹90,000 in the three months preceding the loan application.
• The business must not be on the blacklisted/excluded list for SBA finance.

In terms of ownership or collateral worthiness, traditional banks often require property ownership, be it a residence, office, shop, or godown. Once you're satisfied with the eligibility criteria for a Working Capital Loan, the application process is straightforward.

Additional criteria include ensuring that your business's physical location is not in a negative location list. Moreover, trusts, NGOs, and charitable institutions are ineligible for small business working capital loans.

In a departure from most unsecured business or personal loans, neither banks nor Non-banking Financial Companies (NBFCs) mandate security or collateral for a working capital loan. A positive credit history may render you eligible for unsecured working capital loans.