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Cash Credit is short-term funding or loan for a company to meet its working capital requirements.

Unsecured Cash Credit Facilities

In India, Unsecured Cash Credit Facilities refer to credit arrangements provided by financial institutions to borrowers without requiring any collateral or security.

These facilities offer borrowers access to funds for short-term financing needs, such as working capital requirements or operational expenses, without the need to pledge assets as security.

Unsecured cash credit facilities typically have a predetermined credit limit based on the borrower's creditworthiness, financial standing, and repayment capacity.

Interest rates for such facilities may vary depending on market conditions, the borrower's risk profile, and the terms negotiated between the borrower and the lender.

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Unsecured Cash Credit Facilities-

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Following are the procedure steps:

1. Eligibility Assessment:

The borrower must meet the eligibility criteria set by the financial institution providing the cash credit facility. This may include factors such as the borrower's creditworthiness, financial stability, business track record, and repayment capacity.

2. Application Submission:

The borrower submits an application for the unsecured cash credit facility to the chosen financial institution. The application typically includes details such as the purpose of the credit facility, the amount required, financial statements, business plan (if applicable), and any other documents requested by the lender.

3. Credit Evaluation:

The financial institution assesses the borrower's creditworthiness and risk profile based on the information provided in the application, as well as through credit checks and analysis of financial documents. This evaluation helps determine the borrower's eligibility for the cash credit facility and the terms of the credit, including the approved credit limit, interest rate, and repayment terms.

4. Approval Process:

If the financial institution deems the borrower eligible and approves the application, it issues a formal approval letter outlining the terms and conditions of the cash credit facility. The borrower may need to provide additional documentation or information during this stage, as requested by the lender.

5. Documentation:

The borrower and the financial institution enter into a formal agreement documenting the terms and conditions of the unsecured cash credit facility. This agreement may include details such as the approved credit limit, interest rate, repayment schedule, fees and charges, default provisions, and any other relevant terms.

6. Disbursement of Funds:

Once the agreement is signed, the financial institution disburses the approved credit limit to the borrower's account. The borrower can access funds as needed within the approved limit.

7. Utilization of Funds:

The borrower utilizes the funds for the intended purpose, such as meeting working capital requirements, funding operational expenses, or other business needs.

8. Repayment:

The borrower is required to repay the borrowed amount along with accrued interest according to the agreed-upon repayment schedule. Repayment may be made through periodic installments or a lump sum at the end of the credit term.

9. Monitoring and Review:

The financial institution monitors the borrower's utilization of the cash credit facility and reviews the borrower's financial performance periodically. Any changes in the borrower's financial condition or business operations may prompt adjustments to the credit terms or limits.

10. Closure or Renewal:

At the end of the credit term, the borrower may choose to close the cash credit facility by repaying the outstanding amount in full or renew the facility by entering into a new agreement with the financial institution.

Why choose Livanity for Unsecured Cash Credit Facilities?

Livanity is a one-stop solution for all your financial needs. Here, we try to provide you best services that are hassle-free and quick in nature. For Unsecured Cash Credit Facilities, we provide you a comparative analysis of what different banks are offering. We also assist you in your final decision.

Here are a few reasons for you to apply for a Unsecured Cash Credit Facilities at Livanity:

Fast assistance:

At Livanity, you can contact us at any official working hours of the day.

Customer needs in forefront:

Your needs are our priority. We promise to deliver you with services that are best on our capabilities. By handpicking Unsecured Cash Credit Facilities offers based on customer profile, we try to give you the most personalized experience.

Compare Offers Online:

With more than 100 lenders as partners, you can compare the different offers of financial institutions to make the right decision. In fact, we help you find the best lender as per your eligibility requirements. There is a personalized relationship lender for every customer who helps him/her select the bank of his/her choice.

Real-time customer support:

Our customer support team is fast and efficient to clear all your doubts regarding loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.

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