STORY OF THE MONTH
A Proprietorship firm (name with held) located at Mira Road was incorporated on 9th, March’ 2018. The firm is involved into import of scrap and selling it domestically. In spite of the firm having achieved sales of Rs. 473.00 lacs and proposing collateral security to avail loan, it was denied loans due to following reasons: • The firm didn’t had financials for more than 1 year. • The ITR as at March’ 18 was not audited. • The firm was newly incorporated. • The firm was in need of Rs. 125.00 lacs as working capital against collateral valued at Rs. 100.00 lacs. After meeting us, we were able to help the firm to avail following facilities: • Letter of Credit (LC) limit for Rs. 100.00 lacs for import of scrap. (Margin @25%) • Cash Credit (CC) limit of Rs. 25.00 lacs. • Both the facilities against collateral of Rs. 100.00 lacs. • Both facilities with PSU Bank. As per working capital norms, even a fresh entrepreneur is eligible for working capital limits.
For any queries, feel free to mail at infosurematrixservice@gmail.com
https://in.linkedin.com/in/laxmi-financial-4b430976
A Proprietorship firm (name with held) located at Mira Road was incorporated on 9th, March’ 2018. The firm is involved into import of scrap and selling it domestically. In spite of the firm having achieved sales of Rs. 473.00 lacs and proposing collateral security to avail loan, it was denied loans due to following reasons: • The firm didn’t had financials for more than 1 year. • The ITR as at March’ 18 was not audited. • The firm was newly incorporated. • The firm was in need of Rs. 125.00 lacs as working capital against collateral valued at Rs. 100.00 lacs. After meeting us, we were able to help the firm to avail following facilities: • Letter of Credit (LC) limit for Rs. 100.00 lacs for import of scrap. (Margin @25%) • Cash Credit (CC) limit of Rs. 25.00 lacs. • Both the facilities against collateral of Rs. 100.00 lacs. • Both facilities with PSU Bank. As per working capital norms, even a fresh entrepreneur is eligible for working capital limits.
For any queries, feel free to mail at infosurematrixservice@gmail.com
https://in.linkedin.com/in/laxmi-financial-4b430976
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