A working capital term loan is a financial product created to cater for the payment of short-term operating requirements by businesses. Since it leverages the two best qualities of term loans and overdraft facilities, the WCTL offers flexibility in how a firm applies the facility. Funds drawn under the working capital term loan are based on an amount approved against which cash can be drawn at will.
As an RBI-registered NBFC, Oxyzo occupies the leading position in the market for providing Working Capital Term Loans. Their process is fully digitized and has made business financing accessible, efficient, and fast for SMEs in particular.
Key Features of Oxyzo Working Capital Term Loan:
The Working Capital Term Loan of Oxyzo does not require any type of collateral, including land, property, or even a bank guarantee.
- Timely Approvals and Disbursements: The first benefit of opting for Oxyzo is the speed with which loans get approved and disbursed. Oxyzo approves loans within 48 hours, and loans are disbursed within two days; thus, this facilitates urgent capital requirements of businesses.
- Interest-Based Fees on Usage: In Oxyzo’s WCTL, interest is charged purely on the amount drawn only for the duration of usage. Thus, this type of funding eliminates interest from a company’s loans as it only caters to the amount and time used, making it very cost-effective.
- Minimal Documentation: There is not much documentation involved at Oxyzo for taking loans. Basic KYC details, bank statements of the last six months, and financials of the last two fiscal years are required to be submitted. Therefore, the application process turns out easy and quick.
- No pre-closure charges: Oxyzo’s working capital term loan will allow businesses to repay the loan early without any penalties or pre-closure charges. This saves on significant interest costs, and helps manage cash flows effectively.
- Repayment options are flexible: One realizes that business operations depend upon different cycles of financials, and thus Oxyzo offers repayment options that align with a business’s cash flow needs.
How to Apply for a Working Capital Term Loan in Oxyzo
Apply for Oxyzo’s Working Capital Term Loan hassle-free, fully online. Processes include
- Check Eligibility: A simple and quick check of the eligibility criteria for a loan online is based on aspects like at least ₹3 crores turnover and more than three years of operations in business.
- Submit Application: The loan application form is completely paperless, and the applicant can submit an online application in a few clicks.
- Loan Sanction: Oxyzo processes and approves the application within 48 hours of submission.
- Disbursal: After getting approval, the loan amount will be disbursed within two working days. It ensures the timely fulfillment of all those immediate financial needs for businesses.
Why Oxyzo?
Oxyzo stands out with its innovative approach and comprehensive solutions. From supply chain financing to invoice discounting, they offer a flexible range of options to meet your specific needs. With a focus on understanding your business and its unique challenges, Oxyzo empowers your growth and development. If you’re looking for working capital term loan, then you can reach out Oxyzo.