Sundaram Finance SME Business Loan

Updated: 24-06-2022 06:56:08 AM

Sundaram Finance is a financial and investment services company that specialises in providing hire-purchase finance in India. Sundaram Finance is a NBFC that focuses in providing lending products that include working capital loans, business loans, construction equipment loans, consumer loans, and vehicle and equipment loans, etc. Being a subsidiary of Sundaram Finance Group, it is an RBI registered NBFC that serves corporate, retail and institutional sectors.

Sundaram Finance offers various options of SME Finance that are discussed below:

a) Working Capital Loan

The company offers a range of working capital loans to meet the cash flow requirements of the Small and Medium Enterprises (SMEs) and emerging corporates. The NBFC offers services to various industry segments that include services, distribution, trading and manufacturing.

Under its working capital loan there are three types of loans offered to its customers.

i) Working Capital Demand Loan (WCDL)

Features:

• Lower interest rate, as compared to working capital loan
• Renewal is due after every 12 months
• Option of availing multiple WCDL loans
• Another option of closing multiple WCDL loans

ii) Trans-lines (for transport operators)

Features:

• Evaluated method of income derivation
• Provision of capital investment to maintain new fleet or expand existing fleet

iii) SF Express GST & Smart Credit

Features:

• Loan Limit: Maximum up to Rs. 1 crore (Can be used as credit limit)
• No charge on current assets
• Form of fund-based credit facility
• Type of amortised business loan facility

b) Enterprise Business Loan

In this type of loan, working capital is converted into a form of business loan. There is also an availability of top-up loan in this loan category of Enterprise Business loan.

c) Channel Finance

Features:

• Dealers can avail finance to procure goods and services from companies
• There will be discounts on bills of vendors upon acknowledgement from companies
• Repayment tenure depends on the working capital cycle
• Vendors of the large companies or corporates can avail business loans, machinery loans, working capital loans and infrastructure funding for Brown Field Project and for capacity expansion purposes

d) Machinery Term Loan

Features:

• Machinery loan for a wide variety of general purpose equipment
• Finance options for used machinery, as well
• Availability of Top-up loan

Sundaram Finance also provides various other loan products to its customers that are as follows:

1) Farm Equipment Finance

Features:

• Finance for all brands of new and used tractors, harvesters and farm implements
• Customised loan options for farmers, farm equipment entrepreneurs and contractors
• Repayment options: monthly, bi-monthly, quarterly and half yearly

2) Commercial Vehicle Finance

Features:

• Attractive interest rates
• Up to 100% finance for new vehicles
• Finance for vehicles ranging from 1 tonne carrier to 49 tonne trailer
• Maximum funding for used vehicles
• Customised financial solutions
• Hassle-free documentationa) New Commercial Vehicles

• Finance for all types of commercial vehicles that include light, small, intermediate, medium and heavy vehicles
• Repayment tenure up to 60 months
• Repayment solutions to suit cash flow of the borrowerb) Used Commercial Vehicles

Features:

• Finance for all types of commercial vehicles that include light, small, intermediate, medium and heavy vehicles
• Option of pre-owned vehicle finance
• Facility of loan take-over available
• Support of third party settlement

e) Leasing

Sundaram Finance provides leasing solutions for SMEs and corporate customers. The NBFC also provides leasing solutions for commercial vehicles, machinery and construction equipment.

Features:

• 100% finance
• Customized solutions
• Insurance management facilitation
• GST on rentals – input tax credit can be availed

Sundaram Finance also offers various additional finance options like car finance, construction equipment finance, diesel finance, tyre finance, insurance finance and farm equipment finance.

Contact Address

Sundaram Finance Limited.
Regd. Office: 21, Patullos Road,
Chennai – 600002,
Ph.: +91 44 2852 1181