Types Of

Secured Loans

  • Secured Loan
  • -- Mortgage Loan / Loan Against Property
  • -- Inventory Financing
  • -- Equipment Financing

Secured Loan

  • Mortgage Loan / Loan Against Property
  • Inventory Financing
  • Equipment Financing

A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.

Mortgage Loan / Loan Against Property

Loan Term : 5 – 15 Years

Maximum Loan Amount : 50% – 90% Property Value

Interest Rates : 1% – 18%

Documents Required For Mortgage Loan / Loan Against Property

  • Salaried Employees : An application form with a photograph.
  • Self Employed/Professionals : An application form with a photograph.
  • Proof of age such as Passport, PAN, Any other certificate from the statutory authority Proof of age such as Passport, PAN, Any other certificate from the statutory authority
  • Residential proof such as driving license, passport, telephone bill, ration card, any other certificate from statutory authority. Residential proof such as driving license, passport, telephone bill, ration card, any other certificate from statutory authority.
  • Latest degree for qualifications Latest degree for qualifications (professional)
  • Salary slip for the last 3 months, Form 16 for last 2 years. Business proof and certificate of existence along with the business profile.
  • Bank Statement for the last 6 months. Tax return for the last three years with Profit & Loss Account & Balance Sheets duly certified/audited by a chartered accountant.
  • A cheque for processing fees in favor of “PNB Housing Finance Ltd” Bank account statement for the last 12 months
  • A Xerox of title documents of the property approved a plan. A Xerox of title documents of the property approved plan etc.

Note : All documents need self-attestation.

Inventory Financing

Inventory financing is a debt-based sourcing solution literally in the form of a line of credit, term loan, or short-term loan that’s made to a company for the quick purpose of purchasing products for sale. It works similarly to equipment financing the inventory itself serves as collateral on the loan. As long as you repay on time, that inventory is yours to work with as you see fit. But in case you were to fail to make or default on your loan, your lender would have the right repossess your inventory (or any other inventory of similar value) repayment for your debt.

Loan Term : Expected life of inventory

Maximum Loan Amount : 50% – 90% of value of Inventory

Documents Required

  • driver’s license
  • voided business check
  • bank statement
  • balance sheet
  • personal tax returns
  • company registration information
  • appraisal report
  • profile & loss statement
  • copy of invoices of the inventory
  • collateral documents

Equipment Financing

Loan Term : Expected life of equipment

Maximum Loan Amount : Upto 100% of equipment value

Interest Rates : 8% – 30%

Documents Required

  • aadhar card
  • voided business check
  • bank statement
  • credit score
  • equipment quote
  • last year balance sheet
  • last year profit & loss statement
  • last year balance sheet
  • business tax returns

Equipment Financing Eligibility

SME Equipment Financing Loans in India are offered to companies/ partnership companies in select sectors of the economy such as Automobiles, Auto-Anciliary along woth Food and Agri-Processing . The criteria for availing such kind of loans for equipment financing are as follows:

  • Company/Firm should have been in business for at the very least 3 years in the previously audited Financial Year (FY)
  • A Greenfield Project will only be taken into consideration from well-established players in that particular business
  • Dealer Inventory Funding Loans will only be taken into consideration for well-established dealers working with reputed automobile OEMs

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Photo Identity Proof

Residence Address Proof

Residence Ownership Proof

Income Proof

Bank Statement

Passport size color photograph

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