Working Capital Loan
IESC recognises the challenges Schools face while acquiring capital, we fulfil your OpEx (day to day operational expenses) need by providing working capital loan to function efficiently. Working capital loan is used to meet your short-term financial obligations and operational requirements. Such loans may be secured or unsecured, that is, you may or may not be required to mortgage a collateral.
Product Details
Features
- The loan amount depends on the business requirements, it varies and is customised to meet the OpEx needs of the school.
- Secured loans up to Rs. 10 lacs.
- Unsecured loans up to Rs 5 lacs.
- EMI options (Tenure) for 06 Months / 12 Months / 24 Months / 36 Months (However, this tenure varies from lender to lender)
- You can either pay in instalments or you can pay the interest upfront and repay the entire principal at the end of the tenure. (Subject to financier guideline)
- Interest Rate varies from lender to lender and is curated as per the borrower’s needs and eligibility.
- Collateral- Loans can be either secured or unsecured, i.e., you may or may not be required to mortgage a collateral to avail of the loan. Wide range of acceptable collateral.
Purpose
- To fulfil your OpEx (day to day operational expenses) needs
- Free flow of working capital to function efficiently.
- Short- term operational requisite.
- Balance transfer of your existing loans
Eligibility
- School recognized by State or Central Board
- Positive Cash Flow. Underwriting based on actual cash flow analysis of the school, rather than analysing the traditional way of approving loans.
- Committed Management.
Documentation
- KYC Documents –ID proof, Residence proof & Pan card
- Banks statement – Individual, Society, Trust, School
- Financial documents – ITR / Audit report (If applicable)
- Constitution Documents – Bye-Laws of Society / Trust, Member list, Copy of recognition and affiliation certificates.
- Collateral (for Secured Loan Ony)- Collateral Security documents as per legal & technical report.