CC Loans in Bangalore
Why Choose Us
Flexible Financing
Our CC loan allows businesses to access funds quickly and conveniently, providing the flexibility needed to address short-term financing requirements.
Interest on the Amount Borrowed
Interest is charged only on the amount borrowed, not on the total borrowing cap, resulting in cost-effective financing for businesses.
Quick Approval Process
Mindfin Ser prioritizes efficiency and convenience. Our streamlined approval process ensures quick access to funds, enabling businesses to meet their financing needs promptly.
Borrowing Cap
Our CC loan comes with a predetermined borrowing cap, ensuring that businesses can only borrow up to a specified limit, which helps in managing borrowing and repayment effectively.
No Credit Balance Requirement
With Mindfin Ser's CC loan, businesses can borrow funds without the need to maintain a credit balance in their bank account, providing greater financial flexibility and liquidity.
Competitive Interest Rates
We offer competitive interest rates on our CC loans, ensuring affordability and value for our business customers.
CC Loan Features & Benefits
Mindfin provides CC Loans that assist in managing the financial needs. If you are in need of financial aid, Mindfin is an ideal choice for availing a hassle-free CC loans.
Flexible Borrowing Limit
Our CC loan offers a flexible borrowing limit, allowing businesses to withdraw and deposit funds as needed until the limit is reached, providing financial flexibility to meet operational requirements.
Interest on Daily Closing Balance
With interest calculated on the daily closing balance of the cash credit current account, borrowers are incentivized to collect payments promptly, helping them save on interest expenses and manage cash flow efficiently.
Assessment Based on Borrower's Ability to Pay
The borrowing limit is determined by assessing the borrower's ability to repay, considering factors such as book debts, inventories, and creditors, ensuring responsible lending practices.
Quick Access to Funds
Mindfin Ser prioritizes efficiency, offering a streamlined approval process for CC loans, allowing businesses to access funds promptly to address their immediate financial needs.
Types of CC Loan
Mindfin provides a wide range of Cash Credit loans to facilitate you in fulfilling all your needs. There are various types of CC loans available and are as shown below.
Working Capital CC Loan
This type of CC loan is designed to fulfill the short-term working capital requirements of businesses. It allows companies to borrow funds to manage day-to-day operations, such as purchasing inventory, covering operational expenses, and meeting short-term liabilities.
Trade CC Loan
Trade CC loans are specifically tailored for businesses engaged in trading activities. These loans enable companies to finance their purchase orders, import/export transactions, and other trade-related expenses, ensuring smooth trade operations and timely delivery of goods.
Export CC Loan
Mindfin Ser provides Export CC loans to businesses involved in exporting goods and services. These loans help cover various export-related costs, such as pre-shipment financing, post-shipment financing, and working capital requirements for export-oriented businesses.
Import CC Loan
Import CC loans are offered to businesses involved in importing goods and materials. These loans provide financing for import transactions, including payment to overseas suppliers, customs duties, taxes, and other import-related expenses, ensuring seamless import operations.
Project CC Loan
Mindfin Ser offers Project CC loans to support businesses undertaking specific projects or ventures. These loans provide flexible funding options to cover project-related expenses, such as procurement of equipment, hiring labor, and other project costs, enabling businesses to execute their projects efficiently.
Cash Credit Loans Eligibility
The following people are eligible to apply for a Cash Credit Loan
- Cash Credit Facility can be availed by Individuals, Professionals, Business Owners, Companies, Partnerships, Co-operative Societies, and Registered Trusts engaged in manufacturing and trading.
- Most lenders have a minimum age limit of 25 years.
- The business vintage is scrutinized during the approval process. A business should be in operation for at least three years
- Some lenders prefer companies that have filed tax returns for a minimum of one year and are willing to provide this proof during the application process.
- Applicants must also provide security collateral which varies from stocks to assets. Assets include raw materials, inventory, and partially completed goods. Most lenders accept real estate properties as collateral.
Documents you need to apply.
To continue with your application, you must request the following documents.
Interest Rates and Charges
How to Apply
- Visit the Nearest Branch of Mindfin ser and our Relationship Manager will guide you on the application process.
- You can also Contact Us and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.
Frequently Asked Questions About Cash Credit Loan
The loan amount offered by financial institutions depends on the volume of stocks and receivables possessed by a unit.
Yes, banks typically require collateral security of residential and commercial properties before sanctioning the Cash Credit limit.
A business loan is a term loan offered by a financial institution at a defined interest rate to be repaid within a specific tenure. Cash credit, on the other hand, is a short-term working capital loan in the form of a credit limit offered by a bank to an enterprise.
The cash credit limit is calculated based on the applicant’s profile, their relationship with the bank, the financial stability of the enterprise, repayment capability, and creditworthiness.