Starting an ambitious new project? Get project financing for expansion, diversification, modernisation, balancing of equipment, quality certification or anything else you might need to ensure your projects are nothing short of success.
Sparky Bizconnect has a long and successful track record in arranging finance for the project. Project loan is given by lending institute or bank to the borrower for the purpose of new venture, reconstruction to achieve certain goals. Project loan has mid or long term period and are available to existing or new business for expansion or startup. We understand your growing financial needs and provide you with best corporate solution. The rate of interest and other credit facilities are generally based on viability of the project, credibility of the borrower, rating, risk factor etc. Generally repayment of the loan are normally fixed on case to case basis and it depends on project cash flow.
We fill in a loan application with accurate details, personal and project, details of loan requirement..
Along with the application form you have to submit all the documents of the information mentioned in the form as a proof for the lending organization.
Next comes the loan Investigation stage, the stage at which the loan process gains actual momentum. This could start with a personal discussion followed by the bank's field investigation.
Valuation and legal check on property and papers is the next stage where the focus of the bank will shift to the property. The bank's lawyer will check the property papers for their legality..
Loan sanction is the next process in the series. At this stage, the bank has checked your financial credentials based on criteria such as your income, turnover, age, experience, nature of business etc. They work out the maximum loan eligibility and loan amount that the bank is willing to offer..
Once the bank has ascertained all that it needs to be assured of you as a client, it will disburse the loan. It refers to the transfer of the money from the financial institution to your bank account, now the amount is accessible to you for usage. The bank stipulates that the loan should not be utilized in speculative activities.