Loan Against POS

Small business owners in India encounter substantial challenges in getting cash for their varied business operations. Businesses and startup entrepreneurs are driven to seek other financing sources due to a lack of collateral, expensive interest rates on business loans, and burdensome administrative requirements.

A loan against POS is one such alternative lending option offered to Indian small businesses. A Merchant Cash Advance (MCA) provides various advantages over traditional business loans, including a greater approval rate, more flexible payback terms, and faster access to capital.

Key Features

Simple and Hassle-Free
Application Process
Loan up to
Rs. 50 lakhs
Rapid fund access with No
collateral requirement

Eligibility

• When applying for card machine loans, an individual must be at least 21 years old and no older than 55.

• Individual corporations, sole proprietorships, LLPs, OPCs, and private firms engaged in commerce, production, or services can apply for MCA.

• The candidate must have at least five years of experience and have worked in the sector for three years.

• MCA is available to firms that have been in operation for at least a year and have monthly gross sales of at least INR 100,000.

• You can apply for an MCA if your firm has been in operation for more than three years.

• We would also confirm that past accounts are free of mistakes and that the company is tax compliant.

Documents Required

Photo Identity Proof

copy of Voter ID
Passport
Driving License
Aadhaar Card

Business Proof documents

Trade License
Sales Tax Certificate
Sole Proprietorship Declaration
Partnership Deed

Income Tax Returns
(Along with computation for the last two years/Profit and Loss Statement and Balance Sheet for the last two years)

A copy of certified bank statements of the last six months

How to Apply

• Online Application: Go to the Apply Now and fill out the application form with the right information. Aasaan Loans will utilise these facts to determine your MCA eligibility.

• Upload All Required Papers Online: Ensure that all required paperwork, such as KYC documents, current account bank statements, and company KYC documents, are uploaded online.

• Aasaan Loans will evaluate your company results and operations to determine the loan amount you are qualified to borrow and the interest rates that will apply. Our loan officers will help you comprehend the bid and make the best option.

• Loan Disbursement: Aasaan Loans will share the loan agreement after reviewing the paperwork and authorising the loan.

× Chat with us