Types Of

Unsecured Loans

  • Unsecured Loan
  • -- Business Loan
  • -- Online Seller Finance
  • -- Merchant Cash Advance
  • -- Invoice Financing

Unsecured Loan

  • Business Loans
  • Online Seller Finance
  • Merchant Cash Advance
  • Invoice Financing

An unsecured loan is a loan that is issued and supported only by the borrower's creditworthiness, rather than by any type of collateral. Unsecured loans—sometimes referred to as signature loans or personal loans—are obtained without the use of property or other assets as collateral.

Business Loan

Loan Term : 1 – 5 Years

Maximum Loan Amount : Rs 25 Lakhs

Types Of Business Loans

  • Demand Loan
  • Term Loan
  • Loan against Securities
  • Cash Credit Facility and -Overdraft Facility
  • Letter of Credit (LC) Facility and Bank Guarantee

Business Loan Eligibility Criteria

  • Proprietors, Self-employed individuals, Private Ltd. Co. as well as Partnership Firms involved in the business of Manufacturing, Trading or Services.
  • It is mandatory to have a minimum turnover of Rs. 40 lakhs
  • Individuals who are engaged in the current business for a minimum of 3 years, with 5 years of total business experience.
  • Whose business is giving profit since the previous 2 years.
  • Whose business have a Minimal Annual Income (ITR) of Rs. 1.5 lakhs per annum
  • Maximum age limit of the applicant should be at least 21 years at the time of applying for the loan and should be no older than 65 years at the time of loan maturity.

Required KYC documents for business loan in India

  • PAN Card – For Company/Firm/Individual
  • Identity Proof (Any one out of the given)
  • Aadhaar Card
  • Passport
  • Voter’s ID Card
  • PAN Card
  • Driving License
  • Address Proof - Aadhaar Card, Passport, Voter’s ID Card, Driving License
  • 20-Bank statement of the previous 6 months
  • Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
  • Continuation Proof (ITR/Trade license/Establishment/Sales Tax Certificate)
  • Other Mandatory Documents such as Sole Prop. Certified, Certified original true copy of Memorandum & Articles of Association (certified by Director) & Board resolution, Copy of Partnership Deed

Online Seller Finance Requirements

KRAM FINANCIAL SERVICES is dedicated to help the SME owners get the funds they require in an easy manner. We offer you e-commerce funding that will meet the requirements of your business

Following are the minimum requirements for Online Seller Finance

Minimum Sales : Rs 1 Lakh/Month

Credit Score : –

Time In Business : 1 Year

Required KYC documents for Online Seller Finance

  • 1 year bank statement
  • aadhar card/passport
  • pan card
  • latest income tax return

Merchant Cash Advance

minimum turnover : 30 lakhs

business existence : 3 years

minimum pos swipes : ₹ 1 lakh/month

minimum card acceptance vintage : 1 years

cibil score : above 700

Documents for Merchant Cash Advance Or Loan Against Card Swipes?

  • account statement of 12 months
  • vat returns till the last financial
  • pan card
  • passport
  • aadhar card
  • 1 charge slip of all edc terminals
  • commercial address proof
  • electricity bill / property tax
  • 6 months bank statement
  • 1 year edc sale bank statement

Invoice Financing

Loan Term : 1 – 12 Months

Maximum Loan Amount : 50% to 90% of invoice value

Interest Rates : Approx 2%

Following are the minimum requirements for Invoice Financing

annual revenue : ₹ 1 crore

credit score : –

time in business : 2 years

Invoice Discounting Eligibility Criteria

The eligibility criteria for availing invoice financing loan are as follows:

  • The Business/ Enterprise must have an operational History of more than 2 years.
  • Customer Vintage should be over 3 months
  • Minimum turnover should be above Rs 1 Crore

Documents

  • pan card/passport
  • voided business check
  • bank statement
  • credit score
  • outstanding invoices
  • last 2 years balance sheet
  • last 3 years profit & loss statement
  • aadhar card/passport

Documents Required To Apply For A Credit Card

  • Identity Proof – (Any one)

  • -- Passport
  • -- PAN Card
  • -- Ration Card
  • -- Aadhaar Card
  • -- Voter’s ID Card
  • -- Driving License

  • Address Proof – (Any one)

  • -- Telephone Bill
  • -- Electricity Bill
  • -- Passport
  • -- Ration Card
  • -- Rent Agreement
  • -- Aadhaar Card

  • Proof of Income –It is mandatory to submit the income proof when you apply for a credit card. If you are a salaried person then you have to submit the following documents as proof :

  • -- Salary Certificate
  • -- Recent Salary slip
  • -- Employment Letter

  • Person who is Self-Employed has to submit the following documents as proof

  • -- Certified Financials
  • -- Recent ITR (Income Tax Returns) Statement
  • -- Audited Profit and Loss Statement or Balance Sheet
  • -- Proof of business continuity

Note- Bank can ask the applicants to submit other documents if required apart from the above-mentioned documents.

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Residence Ownership Proof

Income Proof

Bank Statement

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