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Applying Working Capital Loans at InvestKraft Made Hassle-free!
Manage short-term expenses with Working Capital Loans
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What is a Working Capital Loan?
A Working Capital Loan is a crucial financial instrument for businesses of all sizes. It provides the necessary funds to cover day-to-day operational expenses, ensuring smooth and uninterrupted business operations. These expenses can include:
- Purchasing inventory: Restocking raw materials, finished goods, or goods for resale.
- Paying suppliers: Ensuring timely payments to maintain healthy vendor relationships.
- Paying operating expenses : Covering utilities, rent, insurance, and other day-to-day costs.
- Managing cash flow fluctuations : Bridging temporary gaps in cash flow due to seasonal variations in demand or unexpected expenses.
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What are the features and benefits of Working Capital Loans?
Working capital loans also require you to fulfill certain eligibility. There are certain things you can do to improve your chances of getting your loan approved without any kind of delay. You can maintain good financial records and a strong credit history. Prepare a detailed business plan outlining your business goals and how the loan funds will be used. Also, demonstrate a clear understanding of your business's financial needs and how you will repay the loan.
There are some attractive features and benefits that make Working capital loans a preferred choice for businesses in India.
Flexibility
Working Capital Loans come in various forms, such as term loans, lines of credit, and invoice financing, offering flexibility to choose the option that best suits your business needs.
Quick Access to Funds
Many lenders offer quick disbursal of funds, allowing businesses to address urgent financial needs promptly.
Improve Cash Flow
By providing immediate access to funds, these loans help improve cash flow, enabling businesses to meet their financial obligations on time.
Support Business Growth
With adequate working capital, businesses can invest in expansion, marketing, and new product development, driving growth and profitability.
Build Credit History
Responsible repayment of a Working Capital Loan can help build a strong credit history, making it easier to secure future loans.
Advantages of Term Loan (Short & Long-term Loan):
Imagine your business income is like a river. Sometimes it flows smoothly, sometimes it slows down. A Term Loan is like a steady stream flowing into your business. You know exactly how much you need to pay back each month, helping you keep your financial boat afloat even when the river gets a little choppy.
Think of a Term Loan as a versatile tool in your business toolbox. You can use it to buy new equipment, hire more staff, rent a bigger office – whatever you need to grow and succeed. It's like having a handyman who can fix any problem or build anything you dream up.
Paying your bills on time is like building trust. When you consistently repay your term loan, lenders will see that you're a responsible borrower. This builds a strong credit history, making it easier to get loans in the future – like having a good reputation that opens doors for you.
Imagine your business as a young tree. To grow tall and strong, it needs nourishment. A Term Loan provides that nourishment – the extra funds to invest in new ideas, reach new customers, and expand into new markets. It's like giving your business the fuel it needs to reach its full potential.
Budgeting can feel like a complicated puzzle. But with a Term Loan, you have one less piece to worry about. You know exactly how much you'll pay each month, making planning your finances easier and avoiding unexpected surprises. It's like having a roadmap that makes it easier to reach your financial goals.
Who can apply for Working Capital Loans?
Small and Medium Enterprises (SMEs)
Startups, small businesses, and medium-sized companies across various sectors.
Established Businesses
Well-established companies seeking to expand operations, manage seasonal fluctuations, or fund specific projects.
Non-Profit Organizations
Non-profit organizations may also qualify for Working Capital Loans to support their operations and community programs.
Eligibility Criteria for Working Capital Loans:
Keep in mind that the eligibility criteria may vary depending on the lender and the type of loan. However, some common eligibility requirements include:
- Business Registration: The business must be legally registered and operating.
- Financial Performance: Lenders typically assess the business's financial performance, including revenue, profitability, and cash flow.
- Creditworthiness: A good credit history is generally preferred, but alternative credit data may be considered for businesses with limited credit history.
- Business Plan: Some lenders may require a detailed business plan outlining the business's goals and how the loan funds will be used.
- Collateral: Depending on the loan amount and type, collateral may be required.
Documentation for Working Capital Loans
The required documentation may vary depending on the lender and the loan amount. However, some common documents include:
- Certificate of Incorporation, Partnership Deed, or other relevant registration documents.
- Profit and Loss Statement, Balance Sheet, and Cash Flow Statement for the past few years.
- Recent bank statements reflecting the business's transaction history.
- Income Tax Returns for the past few years.
- For sole proprietorships and partnerships, personal financial information of the owners may be required.
- If collateral is required, relevant documents such as property deeds or vehicle registration certificates.
How to Apply a Working Capital Loans?
Apply Working Capital Loans at InvestKraft in India in 4 easy steps:
01
Visit InvestKraft Website
Explore loan options and submit an online application
02
Document Submission
Submit the required documents as per the checklist.
03
Loan Application Review
Lenders at InvestKraft will assess your application and eligibility.
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Disbursement
Upon approval, the loan amount will be disbursed to your bank account.
Interest and Other Charges on Working Capital Loans
Before you make up your mind to raise funds through the medium of Working capital loans, gather an understanding about the rate of interest and varied other charges applicable in different scenarios and situations occurring during the loan tenure. Interest rates on Working Capital Loans can vary significantly depending on various factors, including:
- Creditworthiness of the borrower: Businesses with better credit scores typically qualify for lower interest rates.
- Loan amount: Larger loan amounts may attract higher interest rates.
- Loan term: Longer loan terms may result in higher interest rates.
- Type of loan: Different loan types (e.g., term loans, lines of credit) may have different interest rate structures.
| Interest rate |
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|---|---|
| Processing Charges |
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| Pre-closure charge | generally, foreclosure charges range between 2%-5% of the pre-payment amount+GST |
| Bounce charges | most of the banks and NBFCs fix these charges at Rs. 500 + taxes in most of the cases |
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What our customers say
I was worried about my business expansion. Through the online sources, I came to know about Investkfraft. After I contacted these professionals they helped me in documentation and verification work. Within a few days, I got the required loan in my account in very little time.
Amar kumar
While I was suffering from heart issues, doctors asked me to go for an angioplasty treatment. Due to higher fees, I was not able to get the treatment. One of my friends suggested me to get the load from Investkfraft. I did the same and got an easy personal loan in very little time and at a very low-interest rate.
Aman Singh
I always wanted my daughter to study abroad. However, due to high travelling and living costs, I was not able to send my daughter abroad to study. When I heard about Investkfraft, I reached them to get a personal loan. Within a few days and with less documentation work, I got the amount in my account with the help of which I was able to pay my daughter’s fees and travelling charges.
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Terms We Offer*
Loan Amount
₹50 Thousands - ₹ 2 Crore
Interest Rates**
1 - 2% per month
Loan Tenure
1 month - 5 years
Pre-Closure Fee***
₹0/-
Frequently Asked Questions
- Line of Credit: A line of credit functions similar to a credit card, allowing you to borrow funds as needed up to a pre-approved limit.
- Term Loan: A term loan provides a lump sum of cash that needs to be repaid over a fixed term with regular installments.
- Invoice Factoring: This option allows you to sell your outstanding invoices to a factoring company at a discount to receive immediate cash.
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