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Project Loan

596 days ago
Unfiled. Edited by Project Loan 596 days ago
Project L CMA Report in finance
 
What is CMA (Credit Monitoring Arrangement) report in finance   
 
CMA (Credit Monitoring Arrangement) reports have a crucial role although RBI (Reserve Bank of India) suggests not to only rely on CMA data for granting loans. All banks still ask for the CMA report whether it is a small loan like 4 lakhs to 6 lakhs. To understand the flow of funds of borrowers and viability of projects. The CMA report contains the following elements. 
Details of existing and proposed fund limits: Your current financial condition, borrowed fund and proposed fund should be covered. 
 
If the business is new, a project report is needed. 
Operating statement: In this statement, past 2 years, and future 3 years (Proposed) operating statements are required. There may be some changes as per loan needed and business nature. The profit and loss account should be presented. 
 
Analysis of balance sheet: Details about your balance sheets of past years are required. The proposed balance sheet data is also required to show a perspective of your future business plan. Details about your current assets, fixed assets, current and long-term liabilities are presented in this statement. 
 
Comparative statements of current assets and liabilities: the viability of your working capital cycle. 
 
Calculation of MPBF: Calculation of maximum permissible bank finance shows the capacity of the borrower to borrow money. 
 
Fund flow statements: This statement shows the fund flow statements for current and future years. It shows the fund utilization and sources of funds. It highlights the utilization of funds. Ensure the bank that from you are getting funds for the purpose you have borrowed. 
 
Ratio analysis: This is also one of the long and important statements of   CMA Report in finance   data. It covers key ratios. Some ratios are the current ratio, MPBF (Maximum Permissible Bank Finance), Net worth ratio, quick ratios, turnover ratios, debt-equity ratios, DSCR etc.
 
597 days ago
Unfiled. Edited by Project Loan 597 days ago
Project L Apply for mudra loan
 
Under the scheme, the Pradhan Mantri mudra yojana (PMMY) loan is provided by several banks and NBFCs (Non-Banking Financial Companies). This is divided into 3 categories based on the amount of the loan that can be borrowed:
 
  • Shishu loans upto ₹50,000
  • Kishore loans from ₹50,000 upto ₹5 lacs
  • Tarun loans from ₹5 lacs upto ₹10 lacs
 
You can fill your online as well as offline application form for either the Shishu, Kishore, or Tarun loan scheme, it totally depends upon your needs and the scale of your business plan.  
Simple steps to apply for a Mudra loan online: 
 
  • Visit the official website of the PMMY-authorized financial institution from which you wish to avail yourself of the Mudra loan, Download the relevant form  
  • Enter personal and business details like your name, date of birth, residential/business address, educational qualifications, etc. 
  • Submit the application form, attached documents are processed and verified,  
  • The loan will be approved and disbursed into your bank account.  
 
You can opt for the offline process 
 
  • Visit a PMMY-authorized bank or NBFC of your choice.
  • Ensure you have a self-written business plan.
  • Submit the application form along with passport-size photographs and the documents.  
  • Once all the documents have been verified successfully, the loan will get approved, and the desired amount will be credited to the mentioned bank account.
 
600 days ago
Unfiled. Edited by Project Loan 600 days ago
Project L Machinery loan rate of interest
 
A machinery loan is a type of business loan taken for the purpose of financing the purchase of new machinery or equipment for a business. Modern business tools and state-of-the-art equipment are a wonderful way to expand your business but finding the right financing for them can be difficult at times.
 
 A machinery loan makes equipment financing easy and removes any roadblocks to achieving business success. The   Interest rate of a machinery loan   is the rate at which you are required to repay your machinery loan, inclusive of the principal amount and the interest amount, which is known as the Interest rate of a machinery loan. Financeseva provides interest rate on machinery Loan @6.50% Onwards.
  
Here we have mentioned a list of several banks and NBFCs (Non-Banking Financial Companies) with their interest rate on machinery loans. It may help you to pick the best offer if you are looking for a machinery loan. 
 
Bank                                                          Interest rate (min.)
Punjab National Bank                               8.50%
State Bank of India                                   8.45%
Union Bank of India                                  8.80%
United Bank of India                                 8.50%
Central Bank of India                                8.50%
Bank Of Baroda                                        9.35%
Bank Of India                                            8.50%
Bank Of Maharashtra                                9.00%
Canara Bank                                             8.00%
Hero FinCorp Limited                               12.00%
Indian Bank                                                8.75%
Indian Overseas Bank                                8.45%
 
Small Industries Development Bank of India (SIDBI) 8.00%
 
601 days ago
Unfiled. Edited by Project Loan 601 days ago
Project L A project report format
 
A project report format 
 
A project report is a document that creates a standard format for a project plan. It contains a list of the essential elements of a project, such as stakeholders, scope, timelines, estimated cost and communication methods. The project report bank loan manager fills in the information based on the assignment. The format of a project report should be in the perfect manner that is mentioned here: 
 
Introduction
  • Details of your new business  
  • aim of the business
Summary 
  • The overall status of the business
  • Time to be consumed in working or manufacturing
  • The budget of the whole business  
Scope of the project  
  • The percentage of work that you planned
  • Percentage of planned work that has already been completed
  • Quick overview of results and planning
Details of Promoters
  • Their educational qualifications
  • Work experience etc.  
Details of Employees
  • Employees working for this business  
  • Their educational qualifications
  • Work experience and details
Infrastructure Facilities  
  • The tools have been deployed or not
  • The conditions of the operational premises
  • Types of machinery used in the business
Customer Details 
  • What types of customers have you targeted for selling your business items
  • What their capacity for buying goods is in this business
Regional Operations
  • Company opens branches in different areas or regions 
  • Write about the different setups you made in which region 
  • Write about the operation teams 
Conclusions
  • whole project report in the short paragraph not more than two pages
 
605 days ago
Unfiled. Edited by Project Loan 605 days ago
Project L BANK OVERDRAFT
 
Bank overdrafts take place when you do not have enough money in your account to cover a transaction, but the bank pays for the transaction. It is provided to some customers by the bank in the form of an extended credit facility, which comes into effect once the main balance of the account reaches zero. It is a type of financial instrument. Therefore, a  bank guarantee format   is an unsecured form of credit that is used for covering short-term cash requirements.
 
Banks offer a credit limit to the bank customers based on their relationship with the bank. The bank levies separate interest and charges towards non-maintenance of account. The interest rate for the overdraft facility may differ from bank to bank. 
 
There are two types of bank overdrafts are authorized and unauthorized overdrafts. 
 
1. Authorized bank overdraft 
 
The arrangement is made between the account holder and their bank in advance. Both parties agree to a borrowing limit that can be used on all normal payment methods. Of course, the arrangement comes with a service fee which can vary from bank to bank. 
 
Usually, the fee is charged daily, weekly, or monthly, plus interest, which can be as high as a 15% to 20% annual percentage rate. Considering the sometimes extremely high fees, an overdraft arrangement can be expensive, especially if the borrowed amount is small. That is why account holders should be careful to avoid overdrafts, even authorized ones. 
 
2. Unauthorized bank overdraft 
 
An unauthorized bank overdraft is when a bank has not agreed to the account holder has spent more than his account’s remaining balance in advance. 
Unauthorized overdrafts can also happen even if there has been a prior agreement if the account holder has gone beyond the agreed overdraft amount.
 
607 days ago
Unfiled. Edited by Project Loan 607 days ago
Project L Business Loan EMI
What is a business loan EMI?
 
EMI or Equated Monthly Installment refers to the monthly repayments you make to the loan issuer. An EMI usually consists of two parts: the principal amount borrowed and the accrued interest. The accrued interest is calculated on the interest rate that is prescribed at the time of loan disbursal. The business loan EMI is calculater based on your loan amount, the interest rate quoted at the time of disbursal, and the total tenure of the loan. 
 
These are 4 basic elements to determine the EMI of any loan amount. 
E = EMI amount. 
P = Principal amount.  
r = Rate of interest at which you will be borrowing the loan.  
n = tenure of the loan over which you will be repaying the loan. 
The formula to calculate the EMI of the amount of any business loan: 
E = P x r x (1+r) n / (1+r) n-1 
 
Few points to remember about EMI 
 
When you miss one EMI payment, all the other EMI payments are adjusted to accommodate the missed payment. All other future EMI payments will increase, and an overdue payment fee is also be charged. 
 
To know how much you will pay every month in terms of the principal amount and the accrued interest amount, an EMI calculation is needed. Calculate your EMIs by EMI calculator It will help you understand what you will be potentially paying, and you will be able to plan your payments accordingly. 
 
Mostly banks and financial institutions allow you to repay your monthly EMIs online through direct debit or electronic clearing service (ECS). Otherwise, you can also choose to pay your EMI by cheque and deposit it at the nearest branch.
 
611 days ago
Unfiled. Edited by Project Loan 611 days ago
Project L Machinery Loan Without Security
 
Most often, a machinery loan falls under the equipment loan category. This means new machinery are considered as collateral. Therefore, the borrower does not have to pledge any additional collateral to get a loan. With this loan, for borrowers, it becomes easier to finance the purchase of New machinery Loan for your business. 
 
Lenders usually promote machinery loans for financing of business equipment only. A   Machinery Loan Without Security   is a great option for business owners who need new updated machinery to carry out lucrative operations.  
 
Small businesses may also qualify for machinery financing. This loan allows you to get advanced machinery to provide the best service and overall grow your business and boosts the value of your company. 
 
Financing with Machinery Loan 
With business machinery financing, one can secure their used or new loans. As a result, you can also finance more machines in a single bundle. It would simplify the terms and borrowing amount. 
 
Leasing manufacturing machinery often calls for multiple applications and payment setups that can be confusing. Instead, you need to do your research on all the options available and choose a lender that will group your business requirements into a single package. 
 

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