Merchant Cash Advance
We help our customers succeed in e-commerce
Through our independent finance partners, we can arrange finance exclusively for Telr’s Indian customers for a range of business needs, including:
- Working capital
- Expanding an existing business
- Product differentiation
- Purchasing and preparing stock for festivals or sales seasons
- Purchasing inventory to take advantage of discounts
- Finance is provided by financing partners operating independently of Telr.
- Telr does not accept commission from merchants for arranging any finance facilities.
- Equity finance can not be provided under this scheme.
Merchant Finance is a business loan provided by Telr’s partner finance companies.
Merchant Finance is provided by finance companies that Telr has partnered with. The decision to lend or not is made by the finance company.
Telr aims to make the merchant finance process easier for our merchants by working with the merchant and the Finance Company to ease the loan application and loan documentation process.
For example, we already have KYC documents for merchants already registered with Telr for our payment gateway services. Once you approve us sharing your KYC documents with the finance company, we will provide those to the finance company and reduce the time spent by you in the process. We also help you in completing the application process and submitting other documents to the finance company.
Once you (as the merchant) decide to apply for the finance facility, Telr’s team will work with you to prepare the loan application and compile the loan related documents (KYC and other important documents).
Telr will submit your application to the finance company.
After review of the documents, the finance company will contact you as part of their appraisal process. Once the finance company decides to extend the facility to you, they will sign the loan agreement directly with you.
You will then directly pay the finance company on the repayment dates.
The loan can be used for working capital needs, expansion of existing business, product differentiation, purchasing or preparing stock for festivals or sales seasons, or purchasing inventory to take advantage of discounts.
Equity finance can not be provided.
The loan amount can be as low as INR 50,000 and go up to a maximum of INR 1 Crore.
The loan is for a maximum of 12 months.
The documentation required includes the company and promoters’ bank statements for the last 12 months, filed VAT returns for the past year, income tax returns and PAN details.
Once all the required documents have been provided to the finance company, the turnaround time is around 4 days.
Collateral is not required.
Repayment can be done through weekly, fortnightly or monthly instalments.
Interest rates can be as low as 15% per annum but vary based on the merchant’s risk profile as determined by the finance company.
An administrative fee is also charged by the finance company.