A term loan may be is for equipment, property or working capital paid off between 1-25 years. Term loan has a fixed or variable interest rate with a monthly or quarterly repayment schedule and a fix maturity date. The loan requires collateral approval process as to reduce the risk of repayment. Term loan is best for small business who have sound financial statements and a substantial down payment to minimize payment amounts and total loan cost.
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Term Loan
A term loan may be is for equipment, property or working capital paid off between 1-25 years.
♦ ESI Registration
Features
Bank Syndication- A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as lead arrangers
Working Capital Loan- A working capital loan is a loan that has the purpose of financing the everyday operations of a company. Working capital loans are not used to buy long-term assets
Letter of Credit- A letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for payments made to a specified person under specified conditions.
Bank Guarantee- A Bank guarantee is a promise from a bank that the liabilities of a debtor will be met in the event that you fail to fulfil your contractual obligations. ICICI Bank’s Bank Guarantees
Loan against Property- A loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property’s market value, usually around 40 per cent to 60 per cent
Home Loan- A sum of money borrowed from a financial institution or bank to purchase a house. Home loans consist of an adjustable or fixed interest rate and payment terms
Documents Required for Term Loan
Required Documents would be communicated while finalisation of scope of services