Working Capital Term Loan (WCTL) for Contract Finance

North Eastern Development Finance Corporation Ltd. (NEDFi)

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Details

Amount

Amount Not Specified

Provider

North Eastern Development Finance Corporation Ltd. (NEDFi)

Type

grant

Stage

revenue Stage

About this Opportunity

A Working Capital Term Loan (WCTL) for Contract Finance is a loan designed to assist businesses engaged in contract work by providing funds to cover operational expenses during the contract period. It addresses cash flow challenges that arise between incurring costs and receiving client payments. The loan is repaid in installments over a fixed term.

Eligibility

Eligible contractor firms and companies located in the North Eastern Region.
Businesses must have established contracts, demonstrate adequate credit history and financial stability.
Business must meet any additional requirements specific to the lending institution.

Application Process

The application process involves businesses submitting applications to banks, financial institutions, or government programs, followed by lenders evaluating the business's creditworthiness and contract viability, then approving and disbursing loans based on specific lending criteria, and finally, businesses repaying according to a predetermined schedule.

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