Loan for Professionals is a credit product designed for professionals. The professionals generally include – CAs, ICWA, CS, Doctors, and Architects. There are some parts of your personal and professional life where you need the assistance of experts. CA, CS, Doctors, ICWA, and Architects are among the same set of professionals. These professionals put hard efforts to sharpen their skills and help us in their areas of expertise.
Professional services is the area of the business where the promoters do not need to create the fixed assets. This class generally creates intellectual capital. So there is always a grave area for funding – where professionals need the funding and lenders need to safeguard their interest. However, considering the qualification and contribution to the society, the optimum amount of funds can be arranged.
The rate of interest offered to the professional is way lower than the regular cases, even though it is without security. So it really does not make much of a difference if you offer a collateral or not. Still you as a professionally qualified have an edge to get the funding at the best possible rate.
The turnaround time to raise the funds under Professional Loan is as low as a day’s time. Same day it will be analyzed – processed – disbursed. So whenever there is an emergency of funds, this is the best way to raise the fast and cheap cost of funds.
Under professional loan, there is good flexibility to use the funds. You can take the funds in term loan format, or Drop line OD format or you can also take for one year or 5 years. There is not much of an obligation levied on the uses and tenure of the funds.
This being the service industry, the professional does not require the funds for the working capital, as they do not need to purchase the raw materials or sell the finished goods. In most of the cases, the funds are required to set up the unit or expand the existing facility or office. Thus, for all these uses the funds can be made available.
The purpose of professional loans is to provide credit to individuals who are working professionals in the business world. So, we as a team Terkar Capital are dedicated and extended our part of gratitude to these professionals. However, Our goal is to arrange the most optimal amount of funds at the best cost. So these professionals should value their time to take care of the society and we should be able to take care of their financial needs.
Learn in details about Loan here.
At least 3 years of professional practice is take into consideration to extend the debt facility.
The amount starts with as low as Rs. 5 lacs and and go upto couple of crores, depending upon the degree qualification, years of practice, yearly receipts, current debt obligations and credit score.
This is being unsecured funding, the financial institution only needs to analyze the financials of the firm. There is no question of property – its legal and valuation. So the turnaround time can be as low as one day, to process the whole proposal.
The debt exposure can be arranged in term loan or dropline OD format. This can be flexible as per the requirement of the borrower.
It starts with minimum of a year and can be extended upto 5 years.
You need to share financials with the Terkar Capital team, they will analyze the financials and will share the blueprint of the execution. Terkar Capital team will take care of end to end execution of the process. Right from the document analysis to the fund credit to your account.