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Loan Against Card Swipes

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What is Merchant Cash Advance or Loan Against Card Swipes?

Merchant Cash Advance is a system in which the retailers to apply for Loan Against Card Sales. These loans are beneficial to merchants who use working capital for business expansion and growth.

  • Loan Term
    6 Months - 2 Years
  • Interest Rates

  • 7%–25%
  • Speed
    2 days

Advantages of Loan Against Card Swipes?

Requirements for Loan Against Card Swipes

  • MINIMUM CREDIT CARD SWIPES
  • BUSINESS EXISTENCE
    3 Years
  • MINIMUM MONTHLY CARD VOLUME

  • Rs. 1 Lakh
  • MINIMUM CARD ACCEPTANCE VINTAGE
    1 Year
  • CIBIL SCOREAbove 700

Documents required for Credit Line

  • PAN CARD & PASSPORT
  • VAT RETURNS TILL THE LAST
    FINANCIAL RECEIVED
  • BANK STATEMENT OF 12 MONTHS
  • 1 CHARGE SLIP OF ALL EDC TERMINALS
  • AADHAR CARD
  • 1 YEAR EDC SALE BANK STATEMENT
  • ELECTRICITY BILL / PROPERTY TAX
  • LATEST OD/CC SANCTION LETTER
  • INCOME TAX RETURN OF LAST 3 YEARS
  • PROFIT & LOSS STATEMENT
  • COMMERCIAL ADDRESS PROOF

Frequently asked questions

  • How can Loan Against EDC Swipes Help You?
    • If you have good Card sales on your store and you need extra funds to expand your business. Merchant Cash Advance or Loan Against EDC Swipes or Loan Against Card Swipes is the right choice for you.
  • How Does Merchant Cash Advance Works?
    • thsi loan is issued on basis of the past one year card swipes. Financial institutions give maximum loan at minimum rates for financial expenses and business growth. the EMI of loan is automatically sent to the institutions and the remaining amount will be credited to your account by a machine installed by the lender.
  • Is there requirement of collateral in Loan Against Card Swipes?
    • No there is no requirement of any security, collateral or guarantee for getting a Merchant Cash Advance because the loans are based on financials record of business.
  • How can you repay the Loan?
    • The EMI/ Installments of the loan will be automatically deducted from your card swipes every months which is installed by the financial institutions to the retailers.
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