(FOUNDER OF REDEVELOPZOID PMC LLP)
Big Vision to star Redevelopzoid PMC LLP , because one of my friend Mr. Prasad Giri their society signed redevelopment agreement with builder in 2007 but till Sept’2022 building did not gone for redevelopment. Also another 2 nd my friend that I purchase flat from Mrs. Kaur who purchased flat from builder in 2012 and in 2020 she was detected with cancer. Possession of flat was at 2017 but still flat possession not going. Today also the project is at 95% of stage of construction. Property was not ready because of which they faced lot of problems for selling their property. Because people normally do not buy property where project is being delayed. when I met them at that time, they required money for cancer treatment and were also in depression and stress to arrange money for the cancer treatment. So, in oct ,2020 purchased this flat and her cancer treatment was started. But still the stage of construction of project is same on in my field I have more then 10 to 20 above experience of our customer that the reason I am thinking change require I started June’22 above decided to start PMC June 2022 and provide people with good developer and also provide society with proper guidance.
Unsecured Business Loans are the loans which does not require any property as collateral for the loan. This loan solely depends on the creditworthiness of the borrower. Business loans are the loans provided to you on behalf of your business idea. Unsecured business loan is similar to a personal loan.This loan helps for a start-up or for the expansion of an existing business. This loan is specially designed to meet all the business requirements.
Unsecured loans are usually used for expansion of current business or to initiate a new business. If the banking institute finds the potential in your business idea then you definitely get the loan. This type of loan plays a key role to support start-up. Start-up generally lacks funds for their establishment. So unsecured loans provide a foundation for their establishment. Clients need to get his business idea regarding a new establishment or development of current business crystal clear. Financial institutes leave the spending responsibilities to the business owner as long as the money is used for business expenses the floor is yours.
It is a financial facility or instrument that enables you to withdraw money from your bank account , even if you do not have any account balance.. Like any other credit facility, the bank levies an interest rate when you avail the overdraft facility. An overdraft facility allows you to withdraw funds from a fixed line of credit as and when you need to. Repayment is also easy and hassle-free, as you can repay what you borrow at your convenience. This makes an overdraft facility one of the most desired credit options.
A Cash Credit (CC) is a short-term source of financing for a company. In other words, a cash credit is a short-term loan extended to a company by a bank. It enables a company to withdraw money from a bank account without keeping a credit balance. The account is limited to only borrowing up to the borrowing limit . Cash credit is referred to as a short term business loan that is offered to businesses for maintaining the working capital, while overdraft facilities are offered to businesses and individuals who wish to withdraw more than their available balance in the bank account.
Working Capital Facility means a committed or uncommitted revolving credit facility entered into by the Borrower or a Subsidiary to obtain working capital financing in the ordinary course of business.Working capital is important because it is necessary for businesses to remain solvent. In theory, a business could become bankrupt even if it is profitable. After all, a business cannot rely on paper profits to pay its bills—those bills need to be paid in cash readily in hand.
Featured snippet from the web Under this type of lending, Bank takes the bill drawn by borrower on his (borrower's) customer and pay him immediately deducting some amount as discount/commission. The Bank then presents the Bill to the borrower's customer on the due date of the Bill and collects the total amount. t enables the organization to get immediate release of funds even though the credit period for the bills or the due date for the payment of the bills or the invoices is later. Bill discounting or invoice discounting can be done at any banks or financial institutions by the beneficiary of the bill.
A letter of credit or a credit letter, is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time .Often in international trade, a letter of credit is used to signify that a payment will be made to the seller on time, and in full, as guaranteed by a bank or financial institution. After sending a letter of credit, the bank will charge a fee, typically a percentage of the letter of credit, in addition to requiring collateral from the buyer.
A bank guarantee is a type of financial backstop offered by a lending institution. The bank guarantee means that the lender will ensure that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it. A bank guarantee is a commitment made by a finance company that if a debtor fails to repay a loan, the bank will pay the amount.