Credit Card Receivable

Credit Card Receivable

Credit card receivables also known as credit card factoring, is a viable source of financing to small businesses who are unable to receive traditional loans or looking for additional loan. A credit card receivable service provider takes a look at a business's credit card sales to determine its feasibility. With Facility against Credit Card receivables, a merchant outlet with a POS machine can avail of either a Business Loan or an Overdraft Facility on the basis of the yearly sales that takes place on the credit card POS machine. Business loan of up to Rs. 3 crores can be availed.

Unlike traditional lenders, providers of credit card receivables consider a business's future credit card sales an asset. These companies purchase a percentage of predicted credit card sales at a discounted rate. When it is time for credit card processors to collect on credit card sales, they are directed to transfer a predetermined fixed percentage along to the credit card factoring companies.

Whether you are a restaurant owner, a retailer or an entrepreneur in general, you can take advantage of credit card receivable factoring specifically for your business.

Credit card financing services particularly look to restaurants or retailer because restaurants and retailers tend to process a lot of credit card sales.

Since 92% of small businesses can't get money from banks for various reasons, credit card receivable financing is especially useful to service providers and other small entrepreneurs as a quick alternative funding resource.

Don't confuse credit card factoring with accounts receivable factoring, where invoices - not credit card receivables - are purchased at a discount before their due date in exchange for cash payment. Businesses use this funding for quick capital as well.

• Higher eligibility for Self Employed

• Loan amounts up to Rs. 3 crores

• Flexibility of combining Loan and Overdraft

• Lower Processing Fees

• Easy repayment option

• Collateral free

• Competitive interest rates

• Quick disbursement

Application form & Document submission

• Cibil report check

• Residence Verification

• Office Verification

• Eligibility calculation

• Personal Discussion

• Credit decision

• Offer Letter

• Signing of agreements and submitting post-dated cheques

• Disbursement

  • Establishment should be Sole Proprietorship, Partnership, Private Limited Company or Public Limited Company
  • Sales through credit cards is over Rs. 60 lakhs
  • The establishment should have positive profit before tax for the last two (2) years
  • The business should been in existence for three (3) years or more

To qualify for a Credit Card Receivable, most of the lending institutions in India require you to be:

Documents Salaried Self Employed Properitorship Firm Self Employed Partnership Firm Self Employed Pvt Ltd / Ltd
Twelve month audited credit card sales statement. Business Loan Business Loan Business Loan Business Loan
Application Form With Photograph Duly Signed Business Loan Business Loan Business Loan Business Loan
Clear Pancard Copy, (Applicant & Co-Applicant) Business Loan Business Loan Business Loan Business Loan
Latest Residence proof (Applicant & Co-Applicant) Business Loan Business Loan Business Loan Business Loan
Latest Office Proof (Applicant & Co-Applicant) Business Loan Business Loan Business Loan Business Loan
Last 3 Months Salary-Slips Business Loan Business Loan Business Loan Business Loan
Last 12 Months Bank Statements Business Loan Business Loan Business Loan Business Loan
Form 16 / Income Tax Returns Of Last 3 Yrs Business Loan Business Loan Business Loan Business Loan
All Loan Sanction Letter If Any Business Loan Business Loan Business Loan Business Loan
Business Profile Business Loan Business Loan Business Loan Business Loan
Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , ) Business Loan Business Loan Business Loan Business Loan
Last 3 Years Income Tax Returns With Computation Of Income Business Loan Business Loan Business Loan Business Loan
Last 3 Years CA Certified / Audited Balance Sheet And Profit & Loss Account Business Loan Business Loan Business Loan Business Loan
MOA / AOA Business Loan Business Loan Business Loan Business Loan
Partnership Deed Business Loan Business Loan Business Loan Business Loan
Company Pancard Clear Copy Business Loan Business Loan Business Loan Business Loan
Shareholding Pattern On Letterhead Business Loan Business Loan Business Loan Business Loan
Sundry Debtor & Creditor List Last 1year Business Loan Business Loan Business Loan Business Loan
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