Private Finance in Chennai on Cheque Basis
Cheque basis Finance is one of the popular finance in chennai, because you get cheque basis funds immediately. These funds are disposed immediately by the private Financier. The cheque basis funding sort out immediate problems for the clients. For Example, Shortgage for working Capital, Billing Cycling Period. Cheque Basis Finance is only for Business People, If any one tell you that we organize finance for salaried people, think about it because they manipulate you and they will pull you to trap. Thier are lot of legal restriction and process for salary people finance, private financiers don’t concentrate more on funding salary people finance.
Who is eligible for Cheque Basis Private Finance:
Only Business People are eligible to get Cheque Basis Funding. You Should Have Proper Documents to raise the funding. Because Paper Speak’s a lot.
Document Required For Cheque Basis Finance:
1. 3 to 6 Months Back Statement
2. Last 2 years IT
3. Cheques for EMI
We are the only registered firm in chennai who signed agreements with every financier for a proper process funding.
Private Finance Business is one of the oldest Business Model in Tamilnadu:
You have pros as well as cons: You find mediators all over chennai claiming that they have a direct link with private financiers, but end of the day they charge you some upfront fees and vanish from the picture. When ever a mediator ask you for upfront fees, you must be very carefull. So you can avoid of loosing your money.
How Cheque Basis Works in Chennai:
- Cheque Basis Funding is only for Business People.
- Salary People cannot avail cheque Basis Loan.
- Financiers ask for your Companies name bank cheque leaf, the tenure depends upon the financiers decision
If the credibility of the bank statement is overwhelming, Private Financiers increase the repayment schedule.
Interest rate vulnerability varies from financier to financiers and Depends upon the season aswell.
- Depending upon the season the interest rate changes. And this is common among cheque basis loans. For Example, Diwali and pongal seasons, interest rate may vary. Because there is huge demand for money, this makes increase in interest rates.
- If you want long term repayment schedule you can hand pledge your property document to the financiers and they will increase the repayment schedule.
- Usually Interest rate for cheque basis private finance, starts from Rs 2 to Rs 6, i,e 2% to 6%.
- Repayment Schedule Starts from 5 months to 12 months. If you hand pledge your property, you can even increase your repayment schedule.
- Financiers Won’t mortgage or register your property, they just get your mother documents from you and you get those documents when you repay the money.
- keep the balance in your bank account, the the cheque bounce’s financiers will take neccessary legal action on you.
- If Financiers feel good about your business transaction and business model, there are chances of getting low interest rates and long repayment schedule.
Safeguard Yourselves From Unethical Financier’s:
Everything we see have good and evil. Though Chennai Market have lot of decent financiers, we do have some financiers who are too greedy about money. Chances you might end up with a fake financiers who charge you more interest rates by seeing your money needed pulse rate. That’s the reason we ask our clients to wait to get a proper financiers.The Following Ways will help you to safeguard yourself during
The Following Ways will help you to safeguard yourself during tough situation.
1) Patience :
Show your patience during financier’s meeting. We know, the reason why business people come for cheque basis. Because, you don’t have time to grab bank loan. But the point is negotiating interest rates with the proper financiers. If you showoff more about the need of money, financiers will automatically analyse your pulse and finally you loose the chances of negotiating interest rates.
2) Bank Transaction:
If you need quality financiers you must show it in papers. If you expect, financiers do expect the same from you. Cheque Basis Private finance always depends on the papers and reliability of your business. Financiers know nook and corner of your business. There are wrong perception that most of the financiers are uneducated, change that perception thats not true. Reduce your cheque bounce rate. It shows credibility on papers.
3) Past Cheque Basis Private Finance Experience:
It’s for businesses who already got cheque basis finance. Some business would have maintained proper track records with your previous financiers. But there are some business who imbalanced your reputation with your old financier. Cheque basis market is entirely different from other lending market. Private financiers will always run a background check before lending their money to you. When they find any cheque bounces to your previous financiers, they will corner you with interest rates and repayment schedule. Sometimes the meeting might end up with a failure. If one financier is rejecting your, the word of mouth goes like a fire. Prior with the financier meeting just share the true facts to us so that we can help you.
4) Choose an Ethical Mediator:
Everything depends upon your mediator. If you get an ethical mediator, just say thank god. You should find mediator who not only mediate for you, he should consider about your business and you. Make sure mediator is not pushing you in a trap. Giving you the proper financier will make a good bond between both of you. This will lead to a successful business relationship.
5) Business Reliability:
We always wanted to spend money with good products, right. The same with the financiers as well. Business owners love their businesses, you might think the business is an evolutionary concept and it is gonna revolutionize the world. What’s the point in that, when the financier don’t understand your business model or doesn’t feel food about business. Private Financiers wants whether your business is making money or not. They don’t want an revolutionary business, cheque basis financiers just want there money back. If Your business is not reliable just forget about the cheque basis finance. Eg., Share Market, Forex Trading etc.,
6) Check your Repayment Schedule:
Cheque Basis finance comes with various repayment schdedule loan. Some Private Financiers give you 3 months, Some give your 5 months, Reliable Financier give you 8 months. Interest rates start from Rs 2 to Rs 5. If you want long term repayment schedule, you can even give your asset as hand mortgage. Cheque basis financiers will not register your document, they just keep it as hand binding. These kind of scheme will raise more money and also increase the repayment schedule to 10 months or even 12 months. Hand binding your propery to financiers will reduce the interest rates as well. Please watch your capability of your repayment. We cannot turnaround the business just like that, it need time to evolve. Repay the money without any hassle and gain good reputation among the private financiers and mediator.
NO UP FRONT MONEY ONLY ON COMMISSION BASIS
