Working Capital knowledge base : Everything you need to know before proceeding.
Every business entity requires funds to purchase Fixed assets like Plant and Machinery, Land, Building etc. and some finance to meet their day to day requirements like to purchase raw material, pay salaries, electricity bills etc. The finance required to meet daily requirements is called working capital. Nowadays, banks are very aggressively providing funds to business houses to meet their working capital requirement and daily operational expenditure.
Rate of interest is very low as LIBOR (London Inter-Bank Offer Rate) linked pricing is offered in Buyers credit.
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Entity |
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|
Sole Proprietorship |
Partnership |
Private Limited Company |
|
Proprietor |
Partner |
Director |
Individual Related Documents |
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Age & ID proof (any of the below): of Proprietor/Partner/Director
|
Yes |
Yes |
Yes |
Residence Address Proof (any of the below): of Proprietor/Partner/Director
|
Yes |
Yes |
Yes |
Photograph of Proprietor/Partner/Director |
Yes |
Yes |
Yes |
Sanction letter and schedules/Statement of loans in the name of individuals/partners/directors |
Yes |
Yes |
Yes |
Residence/Office Ownership (any of the below):
|
Yes |
Yes |
Yes |
Last 6 months bank statement of all operative accounts |
Yes |
Yes |
Yes |
In the case of transfer of a loan: Last 12 months of loans statement along with the Sanction Letter of your previous bank |
Yes |
Yes |
Yes |
Company Related Documents |
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Business continuity proof – 3 years income tax return & income statement |
Yes |
Yes |
Yes |
Last3year audit report and audited financials |
Yes |
Yes |
Yes |
Business incorporation date proof – PAN Card |
N.A. |
Yes |
Yes |
Office Address proof (any one of the flowing):
|
Yes |
Yes |
Yes |
MOA(Memorandum of Association ) and AOA (Articles of Association) |
N.A. |
Yes |
Yes |
Latest share holding pattern on company letterhead |
N.A. |
Yes |
Yes |
List of current partners with share of profit on firm letterhead |
N.A. |
Yes |
N.A. |
Partnership Deed |
N.A. |
Yes |
N.A. |
Certificate of Registration |
N.A. |
Yes |
Yes |
List of Directors oncompany letterhead |
N.A. |
N.A. |
Yes |
Certificate of Incorporation |
N.A. |
N.A. |
Yes |