Collateral Backed loan
Term finance is meant for a finance that has a specified repayment schedule with a fixed or floating interest rate and requires collateral. This also comes in the category of collateral backed loan. The loan is very traditional one.
Traditional loan followed by term repayment schedule.
Secured finance (collateral backed).
Quick and easy.
Who Can apply
Private Ltd, Public Ltd, LLP, Proprietor
Business continuity proof of last 3 years.
Last 6 month bank statement of the directors/promoters.
PAN card of the company.
PAN card of the Promoters/Directors.
Business registration document.
Company address proof.
3 years balance sheet, P&L with audit report.
Loan repayment statement/schedule for any running loan of directors/promoters.
3 years I.T.R of the company.
Property documents/collateral papers.
Loan repayment statement/schedule for any running loan.