Moneyplus | Secured Enterprise Loan

Moneyplus Secured Enterprise Loan

Moneyplus Secured Enterprise Loan is to serve small businesses, self-employed segment like traders, retailers, small manufacturers & services providers who require higher capital to improve their operational & working capital capacities.

Who can avail

Moneyplus Secured Enterprise Loan is for Small retailers, traders, manufacturers & service providers

Loan Amount

Rs. 1,50,000 to Rs 15,00,000.

Repayment Period

12 months to 36 months

Purpose of the Loan

To enable businesses to improve their operational & working capital capacities.

Security Required:

To be secured against receivable, investments, inventory, property, personal assets and machinery.

Interest rates

22% – 26% per annum

Prerequisites and Process

Annual sale should be atleast Rs 12 lakh in case of trading entity.
Loan must be secured against Property, personal assets. End use of loan should be only for Business purpose.
Client’s bank statement analysis of previous 2 years will be done to ascertain creditworthiness.
Reputation Survey of the client will be conducted in his area to have an idea about the general conduct for payment of loans.
Loan Repayment needs to be done on Montly Basis thru EMI.
Regular cash flows would be ascertained by on site team to ensure timely repayment.

Documents Required

Application form.
1 Photograph each of Applicant and Co-Applicant.
Income Details: IT returns, Balance sheet & P/L account statement for the last 2 years with Annexure, Form 16 A/Cash Flow report from the onsite team.
Bank account statements for the last 6 months.
KYC documents of applicant as well as co-applicant.
Business vintage for 2 years.
Business Proof: Certificate of practice.