Today in business there is always requirement of some amount of working capital for bearing its operating expenses and other daily needs of office. The business faces several ups and downs in its day to day life where it needs additional support for dealing with the situations.
In the season of recession when operating expenses of the business are more than income of the business, it becomes very essential to get some of the extra working capital to prevent the company from further loss. There are various finance companies which provide short term loans to the company to cover their loss in the period of recession and repay the same when the situations are under control.
Apart from various finance companies established, banks have also started the work of finance and benefitting people in their critical times. The finance services are more trustable and there are almost no chances default and fraud. One such Tathastu bank HCBL is famous for providing its great finance services.
The loan services provided by HCBL banks are very customer oriented and require only one guarantor unlike others. There are various kinds of loan for various purposes. All types of loan require simple formality comparatively others.
One such loan named as ‘saral loan' offered by banks especially for meeting the working capital requirements of businesses in their daily life. The requirements may be like purchase of equipments, furniture or for renovation and maintenance of building, show room, shops and any commercial purpose for carrying out business.
The eligible candidates are for individuals, proprietorships and partnerships in the shape of retailers, beauty parlors, repairing of articles, auto service, refrigerators, restaurant, canteen service / Tiffin services, grocery shops. There is need of permanent place for the business. The applicant must be of age between 21 years to 65 years.
The loan will be in the form of term loan or cash credit. The minimum amount of loan could be taken is rupees fifty thousands and the maximum amount of loan could be taken is rupees two lakh. The period of loan is usually three years.
The security accepted is fifty per cent of the amount of loan in the shape of the bank's term deposit and also the hypothecation of stocks or equipments etc. There is need of personal guarantee of at least one person acceptable to the bank. It requires very small processing fee of Rs 250. The inspection will be conducted by bank officials at regular intervals once in a month. They use to charge minimal expenses of rupees fifty.
This kind of loan has benefitted many of the small business in very best way and many of the problems of corporate have been solved. Business regularly requires some of the additional working capital for the meeting the additional expenses which comes along with sudden changes in the market. There is need to reimburse those expenses immediately with help of loan. HCBL has been satisfying its customers with its easy loan formalities and simple process.
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