Advance Stock in Trade

Significant Features:

To Overcome Running Business Requirement Advances Are Given As Under.

– CASH CREDIT HYPOTHICATION.
– CASH CREDIT PLEDGE.
– BILLS PURCHASE.
– SECURED LOAN.

Requirement

– Copy of Smart Nagarik Card.
– Books of account for last 3 Year.
– Stock list at the date of application.
– I.T. return and assessment order of last 3 year of loanee & Last Year of guarantor.
– Two Guarantors who are Bank Member.
– Proof of Resident and Income (Applicant & Guarantor Both).
– Audited report from C.A.(More then 40 lakhs turnover).
– Municipal Shop Act License (If Applicable).
– Partnership deed (If Applicable).
–Register of firms.
– C.S.T NO., G.S.T. NO.
– PAN NO.
– In case of Small Scale Industries Last G.E.B. Bill & S.S.I. license is required.
– In case of Company Memorandum & Article Of Association is required.
– Project Report & C.M.A. Report (More Than Rs. 25 lacs of loan).
– Except Secured Loan Review will be done on Yearly Basis & Document Validity period is 3 Years.
– Only Stock In Trade Will Be Considered For the Purposes.
– Furniture, Fixture, Machinery etc. Will Not Be Considered for the Purpose & Must be Detailed On Separate Sheet.
– Stock Older then 3 Months must be detailed on separate Sheet.
– Latest Stock Statement is Must & should be presented.
– For the Stock lying in other’s Premises Statement Of Confirmation From Owner of Property is required.
– Bank Official Can Visit Site At Any Time For Verification.