Cash credit limit or CC limit works like a current account with a cheque book facility that allows you to withdraw money or issue cheques up to the approved CC limit, even if there is no balance in the account. It is sanctioned by lenders to enterprises to fulfil their working capital requirements.
CC limit holders offer stock and debtors as primary security to the bank. It is a short term credit facility availed generally for 12 months, and is renewable after every 12 months. Borrowers pay interest on the utilised amount only, and not on the limit sanctioned. Interest is calculated on daily overdrawn balance and is debited to the cash credit or CC account monthly. Our CC services provide our customers with the financial flexibility they need to manage their day-to-day operations in a simple and convenient application process with quick approval timelines. Our team of expert bankers works closely with our customers to understand their unique business needs and provide them with customized cash credit limit solutions that are tailored to their specific requirements.
Our scope of work as
Cash Credit limit providers
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Obtaining and analyzing necessary client documents
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Conducting discussions with various lenders and identifying the intending lender
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Filing necessary paperwork and application forms with the bank
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Conducting meetings with various executives at all levels in the bank
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Obtaining the draft term sheet/sanction letter from the bank
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Getting the limit sanctioned according to the term sheet
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Communicating sanction to the client and initiating the documentation and disbursal process
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Completing all disbursement formalities and ensuring successful completion of the disbursement process
We are committed to helping our customers achieve their financial goals and grow their business. Contact us by filling the query form below and our team will reach out to arrange your CC Limits.
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At MVG, we believe in providing the highest standards of ethical, integral and most importantly, transparent operations.