It is a commercial arrangement where the lessee (customer or borrower) will select an asset (equipment, vehicle, software); the lessor (finance company/bank/financial institution) will purchase that asset; the lessee will have use of that asset during the lease. At the end of Lease tenure the ownership of the Asset will be transferred to the Lessee at residual value.
|1.||KYC of the Company/Partnership Firm/Proprietor ( PAN Card, Aadhar Card of all the Directors/Partners. PAN card of the Company/Partnership Firm.)|
|2.||Pan Card Xerox of each of the borrowers.|
|3.||Company Profile like the MOA/AOA/ Partnership Deed|
|4.||Copy of One year Bank Statement of the Company/Partnership Firm/ Proprietorship Company.|
|5.||Copy of the Tax Returns for three years with all the attachments.|
|6.||Projected Financial Papers|
|7.||Loan Application Form and Statement of Assets and Liabilities to be duly filled and signed by both the borrowers.( This will be provided by the Bank.)|
|8.||Quotation/Invoice for the machineries to be purchased from the vendor.|
|All the relevant documents are to be self attested|
|CHECKING OF LOAN AMOUNT ELIGIBILITY||INCOME, AGE, EMI, TENURE,OTHER OBLIGATIONS|
|CIBIL SCORE||BORROWER, CO-BORROWER SHOULD BE NORMALLY ABOVE 550|
|DUE DILIGENCE||1. KYC:PAN CARD, AADHAR CARD,ADDRESS PROOF
2. BANK STATEMENT=== 06 MNTHS TO 1 YEAR, VERIFICATION OF INCOME TAX RETURNS
3. VISIT TO EXISTING:OFFICE/FACTORY/GODOWN, RESIDENCE, VERIFYING WITH THE VENDOR REGARDING THE CORRECTNESS OF THE QUOTATION
|ONCE THE LOAN ID SANCTIONED, BEFORE DISBURSEMENT:||PAYMENT OF STAMP DUTY FOR DISBURSMENT OF LOAN|
|CERTAIN BANK DOCUMENTS ARE TO BE STAMPED BEFORE THE LOAN IS DISBURSED AND THE SAID STAMPING IS DONE BY--||FRANKING, E-PAYMENT|
|ONCE THE FRANKING IS DONE THEN ALL THE DOCUMENTS ARE TO BE SIGNED BY THE BORROWERS.|
Normally All Banks Take Around 3 Week To 4 Weeks For Sanction Of The Loan If All The Papers Are In Place.
MAA Capital Solution will act as intermediary between the concerned Bank and you. Considering the fact that all the relevant papers are in place and the legal scrutiny of the property is hassle free then MAA Capital Solution will assure to give a timely loan sanction from the Bank within a time frame of 10 to 12 working days.