POS BASED FINANCE is a financing option available to merchants receiving their revenues via credit/debit cards either at the point of sale (POS) or an ecommerce website. This SHORT-TERM commercial finance option is usually offered as a program to companies that have multiple retail outlets or stores or similar models which have such points of sale.
The borrower must have registered (electronic) sales on a monthly basis to qualify for the loan. Typically such a financing allows companies to access unsecured loans based on its receivables and can be used as per business requirements.
Funding Range: INR 10 Lakhs to INR 50 Lakhs
Term Range: 3-12 Months
Interest Rate: 15-18%
Security Required: Directly linked to POS/Credit Card