Pay Later Finance

Supplier payments are part and parcel of every business. Some payments are made regularly to replenish inventory and keep the business ticking. In other occasions, businessmenare presented with growth opportunities that must be seized by liquidating funds. Many times, due to a cash crunch, businessmen resort to informal channels of lending to avail finance. Exorbitant rates of interest coupled with the unreasonable demands of the lender could have crippling effects on the borrower.

Capital Float designed ‘Pay Later’ to solve such problems. This exclusive product carries a predefined credit capacity that is unique to each applicant. By availing this product, the applicant can make multiple drawdowns within the given capacity and repay the amounts to restore the balance for further usage. Pay Later is a rolling loan product that helps SMEs make supplier payments within 24 hours. Interest is charged on the amount used and not on the entire limit provided to the applicant.

Eligibility

  • Applicant’s business must have minimum operational history of 1 year
  • Applicant’s supplier minimum vintage should be over 3 months

Features

  • Limit is available for a year, with drawdowns repayable in 30-90 days
  • Loan amount up to 100% of the invoice value
  • Loan amount between ₹1 lakh - ₹50 lakhs
  • One-time bullet repayment mode

Ideal for SMEs with:

  • Growing orders in the pipeline
  • Opportunity to avail large cash discounts from suppliers
  • A base of blue chip suppliers

Documents(varies with business vertical)

  • KYC documents of the applicant and the organization
  • Audited financials for the last 2 years
  • VAT returns and bank documents for the last 6 months

Businesses eligible

  • Travel agents
  • B2B buyers
  • Distributors
  • Kirana store owners

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