spot cash against cheque



 If you are a businessman you would prefer cheque based Finance in Chennai over any bank loan or other types of loans. Chennai is gaining a lot of popularity in terms of finance, it is now one of the most popular destinations for job seekers. You can get spot cash or cheque against cheque finance in Chennai, this is why the business there is thriving in terms of finance. The entrepreneurs there get the required capital or investment immediately. Finance is the most important thing in any business. For all your financial needs you always go to banks, but now you have another option which is cheque based finance and it is available in Chennai.

 One of the best factors about this is you do not have to be present in Chennai for the procedure the whole process can be conducted in Chennai while you are living in any other state, however, you have to be present in India. You will notice that in Chennai finance companies work in a different way when it comes to business and they have a platform of P2P, which helps you in getting your loan sanctioned much faster.

 If you need spot cash or cheque it is advisable that you apply for a loan at a private finance company instead of going to the banks that always take much longer to process your loan request. The request takes even longer to sanction when it is your requirement for spot cash or cheque. This can only be addressed by private finance companies. One of the other reasons why you should go to private finance companies is low rate of interest, no matter how much the loan amount the interest rate can be much lower than what the bank would offer you. Also, you would get much better EMI options.

 As mentioned earlier Chennai has its separate rules for processing a loan request. Private finance companies can offer you spot cash facility or make the loan available for you within 24 hours. These are the following criteria that needs to be met:

  • • You will need to present your bank statements from the last 6 months.
  • • You have to make sure that you have a letter from the income tax department as clearance. Also you will need to present all the details of your Income Tax since the last 2 years.
  • • You will have to present post-dated cheques in the name of the company you are applying the finance request with.
  • • You also need to present an OD sanction letter.

 The companies that offer cash, cheques or on spot finance facility specially when you need finance immediately are very few. They discourage higher rate of interest if your credit history or credit score is good or excellent. You will again have to make sure that the following criteria is met before applying for a loan with a private Finance Company.

  • • You will have to have a base level of minimum 5 lacs in cash.
  • • The turnover of your business has to be a minimum of 10 lacs in cash.
  • • There are some exceptional cases in which the turnover would not matter.
  • • You do not have to be located in Chennai you can be located anywhere but in India
  • • You will need Income Tax clearance or file income tax return.
  • • You must have a current account running in the name of your business
  • • You would be required to present documents of proof for approval of your cash or cheque requirement. Also if you have a high requirement of finance in the form of cash or cheque, you might be requested to present proof of assets as requirement for collateral details.
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