Cheque based finance in Chennai has recently become the best choice for new entrepreneurs and businessmen. Most of the businessman in need of funds prefer to apply for cheque based finance. Private finance lenders offer cheque service to applicants who can be trusted, and would be able to pay back the amount lent to them. Chennai is booming now in the field of finance and marketing. Thousands of people are in locating to Chennai because of the requirement of workforce, there are plenty of jobs in the field of finance now. Not long ago it was just the banks that offer loans and it was difficult for entrepreneurs and startups. The procedure to get a loan sanctioned has always been tough went it is through banks. Finance lenders have brought in a revolutionary change in the way the world of finance works by introducing cheques for the facility.
In Chennai, finance companies work differently than it works in other cities. Here the finance companies have a platform of P2P, where you will be asked for every single document that any bank would ask you before they could lend you money. It is never a hundred percent guaranteed that the loan amount will be sanctioned through cheque based finance, however, there are more chances of getting a loan through private finance lenders. The approval process is way faster here, and you get an option to pay lesser interest while getting approved for a huge amount of loan.
In the case of private finance, companies can raise funds within 24 hours as well. There are certain documents required so that your cheque based finance is approved specially in Chennai.
The following are the requirements:
In Chennai, companies that offer cheque basis finance tend to discourage higher rate of interest and short payment requirement. The following are the minimum requirements and certain eligibility criteria that are taken into consideration at the time of approval of loans by companies offering cheque basis finance:
In Chennai there are several finance companies ready to sanction huge loans as far as you make the basic criteria. Banks and private finance lenders have introduced a pre-closure charge, which is around 4 to 5%. You also require a proper proof of address, if any liabilities you will have to show them, income and Income Tax details, your work experience and the reputation of your company, your assets and property. For your finance cheque to be approved in Chennai you might also be asked to show your passbook bank statement and balance sheet for the year. To get your cheque approved, there are certain documents that you will have to sign, these are notarized documents, and you will also have to issue post-dated cheques directly to the finance Companies.