Dunaboyina subrahmanyam (accounts ) (67 Points)
28 August 2021Dear Sir,
We are planning to take Business Loan, our Last year Profit 65000/-, Depreciation Debited P&L Account 3,00,000/-
Depreciation + Profit : 3,65,000/-
what is eligibility to take Loan.
Help..
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 28 August 2021
Banks have their own loan vetting philosophies based on credit scores, dunnng people, word of mouth, etc. But usually text books teach different things about funding SME through Tandon committee method, cash budget method, turnover method, single window schemes etc. nothing is guaranteed because banks lend out recklessly for collateral as well. So contact two three banks and find out what are the advantages within them. Even company management does the same, no one knows everything. It’s always better to approach a bank.
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 29 August 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 December 2021
Absolutely proven to be true. I left off concentrating too much as my mba books and bank loan is different. Whatever, training will be given if anyone works for capital intensive companies
CAclubindia
