How do we decide whether we should provide you loan

We primarily rely on banking, bureau data and GST data for approving loans. Therefore it helps to share all the banking information that you have. We prefer to take current accounts for approving loans. A clean banking – healthy credits and bank-balance will do you good. We understand that you might be using multiple bank accounts. In such cases, it would be good if you could share all your bank statements.

We are open to give loans to new to credit customers. However, it helps if you have bureau history. So if you have been paying your EMIs on time then you are good.

We like customers who pay their taxes therefore GST registration and timely payment of GST definitely send us positive signals.

Apart from the above, we also consider customers demographic, nature of business and business stability while making credit decisions.

In short, apply for a loan. Go through the process and we will let you know if we can offer you loan. We don’t charge you anything for this. You could choose to apply again after some time if you feel your application has improved.

Online Wholesale Traders Loan

Wholesale traders and distributors are the backbone of the retail economy in India. They provide a crucial link between manufacturers of goods and the consumers they’re trying to sell to. Running a wholesale business can be a fulfilling enterprise, and a profitable one too, but it can also be quite capital intensive. Online wholesale traders loans can cater to the needs of firms that are engaged in the buying and selling of goods.

Banks and private lenders may be willing to give out funds, but this usually involves a lot of paperwork and high interest rates. An online wholesale traders loan from an NBFC like Triti can help.

The Challenges Of Being A Wholesale Trader To keep your business running, you have a lot of areas that need constant focus – and funds.

Order fulfilment: You need to get your orders out to customers on time.

Building partnerships: To have an array of products available, and enough shops/suppliers to sell to, you need to spend time building relationships and expanding your network to make your business profitable.

Inventory management: Inventory levels need to be sufficient at all times.

Expanding operations: Whether it’s adding more warehouses or opening a new distribution business in a new city or district, expansion requires funding.

Insurance: Your business needs to be insured and protected against theft, accidents and calamities.

Problems Involved In Getting An Online Wholesale Traders Loan In India While many are keen on taking the plunge into the wholesale trade business, it becomes difficult to secure the financing they need for a few reasons:

• Lower levels of income: The reason many of us turn to loans is because we cannot afford to self-finance the business. Many lenders want to see high levels of earnings before they are willing to shell out funds.
• Poor credit: Banks and private lenders require you to have a sound credit record to fulfil insurance requirements. A new business owner may not have the track record they require.
• Not enough business experience: Often, when banks are evaluating the viability of giving a loan, they look at your past business experience and expertise. And this may be difficult for entrepreneurs who are starting out.

Benefits And Advantages Of An Online Wholesale Traders Loan From Triti At Triti, we believe in financing for all – here are some of the reasons why you should opt for an online wholesale traders loan with us.

Online Application Procedure Our loan application procedure happens completely online – which means no tedious paperwork and extra steps that can slow down the process.

Relaxed Eligibiity Criteria LLP and proprietorship companies with an annual turnover of 3 lac and above can apply for our electronics business loans.

No Credit History Required We require no credit history. Just your PAN number, bank statements and business registration certificate. This makes our loans an attractive option for first-time borrowers and business owners.

8-Second Eligibiity Check We have a simple application procedure: fill out the form on the right-hand side, check your elgibility in 8 seconds, and our team will touch base with you.

Superfast Loan Transfer Once your documents are verified, we can approve and transfe the loan amount within 72 ours or 3 days. We are able to make this happen because we follow a digitised process, where all steps happen online, making for a smooth transfer.

Flexible Loan Sizes We offer loans starting from 1 lakh and going up to 15 lakhs – making it ideal for both small and medium business in the wholesale and distribiution space.

Collateral-Free Triti offers unsecured wholesale traders loans – this allows you to utilise all your resources in building your business, without having to submit assets or equity.

Competitive Interest Rates We don’t belive in a one-size-fits-all interest rate. We look at the business, sector, scalability and use data and analytics to determine the best interest rates for you.

Monthly Payment Cycles Settle your dues on a comfortable monthly basis.

How To Use Your Online Wholesale Traders Loan From Triti The working capital you receive can be put to good use to grow your business. Here are a few ways your business loan will help establish a thriving wholesale trade.

Improved inventory levels: Wholesale traders need to have ample goods on their hands at all times to fulfill orders – you never know when your customers may need an additional stock of products to line their shelves. The extra capital will help ensure that your inventory levels are sufficient at all times.

Better cash flow: A little extra cash on hand goes a long way in dealing with any additional expenses that may crop up. This could be to fulfill more orders or deal with unexpected costs that creep in.

Hiring and staffing: As a wholesaler, you need a sizeable workforce to stock and fulfill orders and maintain the warehouse/godown. You will also need to hire a separate section of staff for customer service opertions to deal with customer queries.

Logistics: This is another important aspect of wholesale trading, and one that can be capital-intensive. You can utilise your funds to partner with a good logistics company and invest in logistics and tracking software.

Technology: Updating technology goes a long way in streamlining your business operations and fulfilling orders faster. Mobile and digital ordering functions expedite the ordering process, while a customer service platform can make it easier for your customer to reach you while the order is in transit or in case of any queries or complaints they may have. Investing in good technology is always a good idea, so take advantage of your loan for this purpose!

Identity Proof:

• PAN Card
• Driving License
• Passport
• Voter’s ID
• Aadhaar Card

Address Proof [ App , Co-app and Gurantor]

• Passport
• Driving License
• Voter’s ID
• Aadhaar Card
• Utility Bill
• Bank Statement/Bank Account Passbook (Updated and no more than 3 months old)
• Registered / Notarized Rent Agreement

Office Address Proof

• Utility Bills (electricity / water / telephone / internet / piped gas)
• Current / CC / OD Bank account
• Property sale deed
• Registered / Notarized Rent Agreement

Business Proof:

• GST registration / provisional certificate
• VAT (permissible only for applications from petroleum industry)
• Registration under Central Excise and Customs
• Professional Tax registration certificate
• IEC (Import Export Certificate)
• Shop & Establishment Act registration / New Maharashtra Shop & Establishment Act registration
• Registration Certificate under Labour Department
• Agricultural Board Trade Licence
• Registration under Legal Metrology Act
• Food and drugs control certificate / Drugs Licence
• Rail E-Ticketing Centre Certificate
• Factory License
• Central / State Govt. Contractor License
• SEBI Registration Certificate
• Trade Mark Registration Certificate
• Cable Operator Registration Certificate
• Clinical Establishment Certificate
• Establishment of a Motor Driving School (FORM-11)
• Registration Certificate issued by Municipal Corporation / Mahanagar Palika / Nagar Panchayat / Gram Panchayat
• District Industries Centre EM Part II
• Registration of Firm under Partnership Act (applicable for partnerships firms)
• Audited Financials /ITR (applicable for proprietorship)

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