Bill discounting is simplest form of Invoice Financing. They are generally short term secured business loans using unpaid bills as security. You sell your unpaid bills to SME Paisa and we pay you cash advances against regarding bill value. Once your bills are paid, you just pay us back with a small interest fee.

Eligibility Criteria for Secured Bill Discounting Loan

The eligibility criteria for Secured Bill Discounting

  • The applicant must be min. 21 years to max. 65 years old.
  • Minimum 1 year in the business.
  • Business type can be Proprietorship, Partnership, Companies
  • Your business must have minimum operational history of over 2 years
  • Applicant must be a current citizen of India with a valid address.

How To Apply For An Secured Working Capital Loan?

At SME Paisa, you can apply for Secured Cash Credit Loan online or offline. Walk into our nearest branch office for a free consultation and guidance regarding an ideal funding option suiting your needs. Or, you may choose to apply online and get an instant approval for funds. Remember to keep a soft-copy of documents required for Business loan ready for upload in case of an online application

Document Required for Secured Working Capital Loan

The list of documents required for a Working Capital loan application includes:

  • PAN Card
  • Passport Sized Photographs
  • Identity, Address and Income Proofs
  • Last 3 years’ ITR and Income statement
  • CMA (Credit Monitoring Arrangement) report, if business turnover exceeds ₹ 5 cr
  • Last 2 years’ audit report financials
  • Partnership deed
  • Certificate of registration
  • Certificate of incorporation
  • Name of all the present directories on company letterhead
  • Memorandum of Association (MoA) and Articles of Association (AoA)

Frequently Asked Question

Your loan can serve a variety of needs, everything from home renovation to debt consolidation and more.

If all your documents are in order the loan should be credited to your account in 24 hours.

Yes, but it comes with a marginal charge. You can read about it

Loan is a term-loan offered by a financial institution at defined interest rate to be repaid within specific tenure. Whereas, cash credit is a short-term working capital loan in the form of a credit limit offered by a bank to an enterprise.

We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.