FUNDING AGAINST BANK GAURANTEE
FUNDING AGAINST BANK GAURANTEE
Funding Against Bank Guarantee refers to a financial arrangement where a borrower secures funding by pledging a bank guarantee as collateral. A bank guarantee is a promise made by a bank to cover a loss if the borrower defaults on their obligations. This type of funding is commonly used by businesses to enhance their creditworthiness and access capital for various purposes, such as working capital, project financing, or trade transactions.
Descriptions
Funding Against Bank Guarantee refers to a financial arrangement where a borrower secures funding by pledging a bank guarantee as collateral. A bank guarantee is a promise made by a bank to cover a loss if the borrower defaults on their obligations. This type of funding is commonly used by businesses to enhance their creditworthiness and access capital for various purposes, such as working capital, project financing, or trade transactions.
- SMM 30 (Security Money Margin 30%)
Eligibility:
Traders: Turnover of ₹50 Cr & above
Manufacturers: Turnover of ₹20 Cr & above
- Amount up to ₹2.50 Cr:
Against BG: 95%
Against LC: 100%
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Frequently Ask Questions
Funding Against Bank Guarantee is a financial arrangement where a borrower secures funding by pledging a bank guarantee as collateral, allowing them to access capital while enhancing their creditworthiness.
Businesses and individuals with a valid bank guarantee can apply for this type of funding, provided they meet the lender's eligibility criteria.
Various types of bank guarantees can be used, including performance guarantees, financial guarantees, and advance payment guarantees, depending on the lender's policies.
The loan amount is typically based on the value of the bank guarantee, with lenders usually offering a percentage of the guarantee amount as funding.
Interest rates for funding against bank guarantees are generally lower than unsecured loans, as the bank guarantee reduces the lender's risk.
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