milestone based payment only.
no advances will be paid for this at all.
industrial distributor has 2 od facilities for working capital:
1. HDFC – loan amount [url removed, login to view] Cr interest 13% -
DOD (Drop line overdraft ) every year our loan amount reduce by 1.15 lac – Collateral security – Anna Nagar house [residential]
2. HSBC – Loan amount Rs.1.5 cr interest 11% without collateral security but we need to pay the amount on 90th day
we need to bal xfer / re-fi for better rates from any bank
before you bid note the following:
a] no additional fees will be paid for the b.t. or top up
your bid is the fee payment
b] it must be a rupee denominated loan
any forex rates is your risk entirely
c] the terms must be better than what we have currently
- lower interest rates for secured od [hdfc]
- longer repayment period for unsecured [hsbc] of 180 days or better
you will be paid once the funds reach the company or bank