Eligibility Criteria and Documents Required for Working Capital Loan-
Eligibility Criteria:
Age Criteria: Min. 24 years & Max. 70 years
Business Vintage, Annual Turnover, and Profitability criteria shall be defined by the lender
Good credit score, financial stability, and repayment history of the applicant/enterprise
No previous loan default with any financial institution
Documents Required:
KYC Documents- Aadhar Card, PAN Card & Passport along with Latest passport size coloured photograph of all applicants
All major Bank Account statements for the past 12 month Current & Savings
ITR + Computation of income + Balance sheet last 3yrs, form 26SA & form 16 latest 2yrs
All Major business registrations like: GST, Udhyam Aadhar etc.
GSTR 3B last 1yr
Photocopy of the documents of the property to be offered as collateral.
I had been looking for a hassle-free loan option for my business expansion, and I found Money Bell to be the perfect solution. Their application process was incredibly simple and quick. The entire process was online, and I received approval in no time. I highly recommend Money Bell to any small business owner!
Money Bell made it so easy for me to get a loan for my boutique's renovation. The documentation was minimal, and their team was very supportive throughout the process. Within a few days, the funds were in my account. This is a game-changer for small businesses like mine!
I was initially worried about the complexities of getting a business loan, but Money Bell's process turned out to be extremely straightforward. I filled out a simple form, and their team guided me every step of the way. The approval was fast, and the loan was disbursed in no time. Thanks to Money Bell, we can now expand our operations.
I was amazed at how easy it was to get a loan from Money Bell. They truly understand the needs of small businesses. The application was easy to fill out, and their team was always available to answer my questions. I got the loan quickly, and it helped me expand my sweet shop. Highly recommended!
Money Bell's loan process is by far the easiest I’ve ever experienced. With minimal paperwork and fast approval, they made the entire process so convenient. The funds were transferred quickly, and I was able to upgrade my fitness studio. I recommend Money Bell to anyone looking for quick, easy, and reliable business loans.
A working capital loan is a short-term loan that helps businesses cover their daily operational expenses such as inventory, salaries, and other overheads. Unlike long-term loans, which are used for expansion or capital investment, working capital loans provide businesses with the liquidity they need to maintain smooth operations. These loans are typically quick to process, offering fast access to funds without lengthy documentation.
To qualify for a working capital loan, lenders usually assess your business’s financial health, including factors like:
Business turnover: A higher annual turnover generally improves your chances of getting approved.
Creditworthiness: Your personal and business credit score plays a significant role in the loan approval process.
Repayment capacity: Lenders will review your cash flow to ensure you can repay the loan.
Business stability: Established businesses with a proven track record of stability are preferred.
At MoneyBells, we focus on understanding the unique needs of your business and provide flexible terms that suit your situation, ensuring access to working capital when you need it most.
Working capital loans can be used for various operational needs, including:
Inventory purchases: To ensure your business has the stock it needs to meet demand and uninterrupted production for manufacturing businesses.
Payroll: Manage employee salary and wages and keep operations running smoothly.
Rent and utilities: Cover overhead costs to maintain your business’s day-to-day functions.
The flexibility of a working capital loan means you can use the funds for any immediate business requirement, helping you focus on what matters most – growth and sustainability.
