Loan Products
Shreem assists its clients in meeting their requirement for funds, both for business as well as personal purpose. The client profile includes existing/first generation entrepreneurs, MSMEs, professionals, salaried individuals etc.
Business Loans
Secured Business Loans
Entities engaged in business, require loan funds at different stages of their life cycle. Loans could be in the form of Term Loan/Project Finance, Loan Against Property, Loan Against Securities (LAS) etc. Shreem assists its clients in obtaining funds from Banks/NBFCs on the best possible terms and conditions.Term
Unsecured Business Loan
In view of the availability of better quality of data on credit track record of clients, many Banks/NBFCs do give unsecured short term business loans. The assessment is primarily made on the basis of cash flow and credit profile of the applicant. The advantage of such loan is: no collateral/ guarantor / security, minimum documentation and easy and quick processing. Generally the borrowers use this mode of borrowing to meet their short term working capital needs, to improve levels of inventory/variety of products, negotiate better terms with suppliers through bulk purchases / upfront payment, Product promotion, expansion of existing business etc. The rate of interest charged on such loans is relatively higher. Shreem assists its clients in obtaining such loans quickly and on best possible terms.
Credit Card Receivables
An online/offline retailer and/or a professional, whose clients pay money by way of Credit Card, can leverage these transactions to avail an unsecured business loan, to meet its liquidity requirement. Generally, the facility is in the form of an ‘overdraft limit’, and the borrower pays the interest cost only for the period for which the funds are utilised.
Personal Loans
Consumer Loan
Several Banks and Non-Banking Finance Companies (NBFCs) provide Loans to such individuals who may have an immediate personal requirement. Generally the purpose for which these loans are availed includes purchase of consumer goods, domestic/overseas holiday with family, higher education, repayment of existing high cost loans etc. Generally these loans are unsecured in nature and hence Banks/NBFCs ascertain repayment capabilities of the applicant on the basis of their Income Tax returns, Bank Statement/salary slips etc. The rate of interest charged on such loans is relatively higher.
Home Loan
The Home loans are provided for acquisition of land and construction of a new house, acquisition of a flat, additional construction, alterations, repairs in the existing house/flat etc. Individuals with sufficient regular income and who can produce satisfactory proof of such income by way of salary certificates, Income Tax Returns etc. can avail such loans. The loan amount is generally a multiple of the annual assured income of the borrower and could be between 75% and 90% of the value of the property. Most housing finance companies offer the option of fixed rate and/or variable interest rate. Depending on the customer’s profile/age, the tenure of the loan could be up to 30 years. Shreem is empanelled with the leading Housing Finance companies (HFC) in India and helps its clients in obtaining such loans on the best possible terms and conditions.
Short Term Bridge Home Loan
Many a times, a person may desire to buy a new home, hoping to fund it against the sale of his existing home. He may thus need a bridge loan to cover the time gap between the purchase and the sale. Short Term Bridge Loans (up to 2 years) can be availed by the borrower to meet such requirements. In such cases, interest on the loan amount has to be serviced on a monthly basis and the principal can be repaid, in lump sum, at the end of the loan tenure.
Loan Against Property (LAP)
Loan against Property (LAP) is a multipurpose loan, which can be used for meeting business as well as personal needs. The loan can be obtained against the security of Commercial or Residential property. The borrowed funds can be used for starting a new business, expanding the existing business, long term working capital or for funding children’s higher education, repaying high cost existing debts etc. The repayment is generally in the form of Equated Monthly Instalments (EMI) and the maximum tenure is 15 to 20 years. The loan eligibility is generally calculated on the basis of borrowers credit score, EMI repayment capacity and the value of the property.
Lease Rent Discounting (LRD)
Lease rent discounting is a multipurpose loan, which can be used to meet business as well as personal needs. Under LRD, the loan is given by discounting the cash inflows arising out of the rented property. Hence, if the borrower has a commercial/residential property, which he has given on a long term lease, then upfront money can be obtained by discounting the lease rent receipts for the residual tenure of the lease agreement. Being fully secured, such borrowings can be made at a very competitive rate.
Commercial Property Purchase Loan
Many professionals e.g. Doctor, Lawyer, Architect, Company Secretary, Chartered Accountant, or a self-employed businessman, may require a loan for purchasing an office premises. Loan may also be required for expansion/renovation of the existing office. Loan for such purpose may be obtained for up to a tenure of 15 years, depending of borrower’s income/age profile. The repayment is in the form of EMIs.
Education Loan
During the past few years, the cost of higher education has gone up substantially in India/abroad. Loans can be availed to cover the education fees and also the living cost/hostel fees etc. For availing such loans, generally, it is mandatory to have an earning co-applicant.
Loan Against Securities (LAS)
A Client can also avail loan (structured as Term Loan or Overdraft Facility) against his existing investments in securities/Mutual Fund units, to meet his personal needs and/or to make further investments in assets giving higher returns. Since these loans are secured against the pledge of (eligible) listed securities/Mutual Fund units held by the client, the rate of interest charged by the lender is lower than in case of a Personal Loan. The interest is charged for the period for which the loan is availed. While in case of banks, the maximum loan limit is Rs. 20 lacs, per customer, there is no such legal restriction applicable to NBFCs. Shreem is empanelled with the leading Non-Banking Finance Companies (NBFCs) in India and helps its clients in obtaining such loans on the best possible terms and conditions.
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