Introduction
Any business whether a budding startup, a small handicrafts business or a new-generation product or service, requires funding to succeed. While traditional loans require collateral, a long time frame and a lot of red tape, cheque-based finance comes into play. The process is simple with a private loan based on cheque , wherein the time frame of disbursal along with the loan being unsecured provides an opportunity for growth spontaneously. JP Finance is one of the most trusted and dependable for cheque based finance in Chennai.
Understanding Cheque-Based Finance
Cheque-based finance is one of the most popular and quick ways to acquire funds that can efficiently spur your business growth. JP Finance offers a smooth process wherein the details are discussed below and is one of the reliable finance that offers cheque basis loan in chennai, serving multiple clients across Tamil Nadu. We, at JP Finance offer unsecured loans up to Rs 10 Crore and are the fastest in disbursal of funds within 48 hours. This sets us apart from other players and we provide tailored, unique solutions for your business needs. Following are the details to be discussed so that all your questions are answered properly.
Breaking down the Eligibility Criteria
The following are the criteria for which the approval approval of cheque based finance at JP Finance takes place:
- The business turnover should be of over 25 Lakhs so that we have the confidence that the business is legitimate.
- A great track record of repayment history of EMIs and loans is a requirement.
- The business post establishment must be operational for three years.
- Income tax return and/or GST return documents for last two years are checked,
- As usual, the account average balance maintenance is necessary.
Documentation Required for Private Loan Based on Cheque
Documentation for cheque-based private finance is very minimal and for which the approval process is smooth. The following are the documents required for a cheque-based loan:
- One year of Bank statements.
- Income Tax Returns (ITR) for the past two years.
- Last six months of GST Returns
- Statement of CC/OD/PC
- Company KYC
- Proprietor KYC/ Director KYC/ Partner KYC
- Last six Months’ Stability Proof, this can include the repayment schedule of previous loans , bank statements etc.
The JP- Finance Advantage for Cheque based finance in Chennai
The following are the benefits and advantages of availing Cheque-based Finance at JP Finance:
- Cheque-based financing is free of collateral.
- JP Finance guarantees that there aren’t any hidden fees.
- Cheque-based Finance Service is also available to entrepreneurs with low CIBIL Scores for their businesses.
- Documentation is minimal.
- JP Finance offers the lowest monthly interest rate starting at just 1.25%, making it an extremely attractive option.
- Clients’ documents and other details are confidential.
- The loan amount will be disbursed within 48 hours of the 30-minute eligibility verification.
- The initiation of the process is guaranteed.
- There are flexible repayment options available, including weekly, biweekly and monthly for the convenience of customers.
Wrapping up
In conclusion, it is important to figure out your business requirements first before approaching for a cheque-based loan. JP Finance stands out as a trustworthy and efficient solution for businesses seeking cheque basis loan in chennai. The swift disbursal of funds to flexible repayment options and competitive interest rates starting at just 1.25%, JP Finance ensure access to capital without the hassle of traditional procedures. Experience the JP Finance advantage and propel your business to better heights with confidence.