Hero FinCorp Bill Discounting or Purchase Invoicing Finance enables enterprises fast track growth by ensuring business liquidity on easy affordable terms
Loan amount of Bill Discounting Finance up to 80% of the invoice value.
Instant liquidity with loan against receivable payments.
Fast Disbursal at attractive interest rates with minimal documentation.
No Collateral for high credit rated entities.
Healthy cash flow and business growth: Bill discounting finance ensure a healthy cash flow since it converts your invoices into cash, which you can invest in your business instead of worrying about insurance against bad debts.
Higher business flexibility: Purchase invoice finance or Supply Chain finance provides higher business flexibility as the cash flow becomes steady and there is no dependence on customers for working capital needs.
Easy invoice management: While availing the invoice discounting loan, your invoices get sorted and updated automatically, which can also help in paying taxes.
Maximum tenure for Invoice discounting finance is of 120 days with interest rate ranging from 11% to 14%. 7 to 10 days are required for application processing. Documents needed are:
Eligibility
Documentation
Avail from our wide variety of small business loans or SME finance options that include bill discounting, invoice discounting, working capital loan, machinery loan and project and acquisition financing. You can benefit from comfortable tenures, attractive business loans interest rates or SME loan interest rates, high loan-to-value or LTV ratio, fast approvals, proactive customer service, easy documentation, and transparent service. As far as eligibility for invoice discounting, working capital loans and machinery loans is concerned, your business must be public, private, proprietorship or you must be self-employed. You should have been in your present business for at least 3 years and have a satisfactory credit score. To avail small business loan in India, your business should also be profitable as per industry standards. The documents you need to submit include KYC and profiles of partners and directors, registration certificates as well as company constitution papers. You will also need to provide audited financial statements and projections of the last 3 years for a business loan. If everything is in place, it usually takes 10 to 15 working days to process loans. The amount of invoice discounting, working capital loans or machinery loans you can receive and the business loans interest rates depends on the assessment of your company and credit, and your need. As security for small business loans, you can provide land, building, equipment, deposit certificates, fixed deposits, NSC, gold, life insurance policies and so on.