Working Capital Loan

What you mean by Working capital limit Eligibility Criteria?

Boost your business to next level of success through the aid of working capital limit facility offered by leading banks at attractive interest rate with flexible tenure. Even overdraft facility is offered, before applying ensure you meet specific eligibility criteria.

Working capital limit Eligibility Criteria

Working capital limit Eligibility Criteria depends on various factors like age of individual, business sales/turnover, total work experience & CIBIL Score ..etc.

Eligibility Criteria for Self-Employed Individuals

• • Age Limit of Self –Employed Individuals - 21 to 65
• • CIBIL Score should be above 750
• • Work experience of salaried Applicants – Minimum – 3- 5 Years
• • Business of nature must be involved trading & manufacturing

What are the factors generally affecting Working capital limit Eligibility Criteria?

There are top 4 factors that generally affects Working capital limit Eligibility Criteria as given below: -

Production process length: - If your organization is still practicing work by labour instead of machinery then, you will require more working capital which would lower your eligibility chance.

Business Nature of Company: - As stated above in eligibility criteria not every business is allowed to get working capital as only those business which are involved in trading & manufacturing will be able to enjoy this facility.

Past buyer history: - Lender will check your past buyer history whom & how regularly they utilize your services & make payments. If suppose any default found on past payment, then you will not be able to get more working capital.

Accessibility of Raw material: - If Accessibility of raw material unable to get easily then in this case you will look for more working capital which will not possible.

What are the ways to increase Working capital limit eligibility?

To increase Working capital limit eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Minimize your operating cycle: - Usually, operating cycle are measured from the date of purchasing raw materials for project to receive payment. Therefore, you required to complete this operating cycle by minimizing its time period.

Cut-Down unnecessary expenses: - Not only your credit affects your eligibility even you customer credit history needs to check properly before supplying goods & services ,know whether they can afford to pay bill on time or not. If your customer credit history seems to be bad then, avoid proceeding further with them, it would help you to increase eligibility.

Check well your customer credit: - Try to avoid unnecessary expenses spending in business, set a limit of rules & regulations upon business expenditure. Let utilize that money for business daily operational expenses.