Invoice Discounting in Erode

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Attractive interest rates
Attractive interest rates
Unsecured Loan upto 5 Crores
Unsecured Loan upto 5 Crores
Approval within 48 Hours
Approval within 48 Hours

How does Invoice Discounting Work?

Invoice Discounting Benefits

Interest as per usage

Interest as per usage

The interest would be charged only for the exact amount and duration of use

Quick working capital

Quick working capital

Get business working capital against unpaid invoices within 2 days

Improve receivables cycle

Improve receivables cycle

Accelerate your cashflows and run your business seamlessly

No paperwork

No paperwork

Complete the entire process online to avail bill discounting facility

Revolving credit

Revolving credit

Get 60-120 days to rotate the limit and reduce the working capital gap

Invoice Discounting Eligibility & Documents

Apply with minimal documentation

Eligibility

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Minimum turnover ₹3 crores
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Business vintage 3+ years

Required Documents

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KYC details
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Last 6 months of banking
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Financials for previous 2 fiscal years
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GSTR details for current fiscal year

Our Terms

Interest Rates
Starts from 12% per annum
Processing Fees
Starts from 1% per annum
Penal Interest
Starts from 2% per month + Applicable Tax
EMI & Check Bounce Charges
500 + Applicable Tax
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Enhanced Security Features

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Hassle-free Loan Applications

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Simplified Documentation Process

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Get Disbursals on the Fly

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Ledger on Your Fingertips

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Enhanced Security Features

How to Apply for a Invoice Discounting

Step-by-step online process to apply for Financing
1
Check Eligibility
Check your loan eligibility
2
Submit Application
Complete a 100% online application form
3
Get Sanctioned
We will evaluate your application and propose a fair sanction
4
Receive Funds
Get disbursements within 2 days of sanction

Why Oxyzo?

Oxyzo provides new-age customized financing
products for your business needs

Competitive rate of interest

Competitive rate of interest

No part-payment charges

No part-payment charges

100% digitized application process

100% digitized application process

No foreclosure charges

No foreclosure charges

Nominal processing fee

Nominal processing fee

No minimum utilization charges

No minimum utilization charges

Approval within 48 hours

Approval within 48 hours

Easy Repayments

Easy Repayments

Get Working capital with Invoice Discounting

Erode, the “Loom City of India,” is a bustling industrial hub located in Tamil Nadu. It is renowned for its textile industry, which contributes significantly to the state’s economy. Erode has a diverse economy with manufacturing, agriculture, and commerce being the other main sectors. The city’s business community is always looking for ways to enhance its cash flow and improve its bottom line. That is why Oxyzo’s Invoice Discounting solution is the perfect solution for businesses in Erode.

Oxyzo’s Invoice Discounting solution provides businesses with a quick working capital solution that helps them meet their cash flow needs. With this solution, businesses can convert their unpaid invoices into cash and receive funds in as little as 24 hours. This quick turnaround time allows businesses to maintain their operations smoothly without worrying about cash flow disruptions.

In addition, Oxyzo’s Invoice Discounting solution eliminates the need for paperwork, making it easy for businesses to access funds. There are no lengthy application processes, and the solution is entirely online, making it convenient for businesses to apply and receive funds. With the elimination of paperwork, businesses can focus on growing their operations and leave the tedious task of paperwork to Oxyzo.

The Invoice Discounting solution is a revolving credit facility that businesses can use whenever they need it. This means that businesses can use the solution to meet their cash flow needs as and when required, without worrying about any fixed repayment schedules. The flexibility of the solution allows businesses to manage their cash flow better and grow their operations without any cash flow constraints.

In conclusion, Oxyzo’s Invoice Discounting solution is the perfect solution for businesses in Erode that are looking for a quick working capital solution with no paperwork and a revolving credit facility. With this solution, businesses can maintain their operations smoothly, manage their cash flow better and grow their operations without worrying about cash flow constraints.

Frequently Asked Questions

What does invoice discounting mean ?
Invoice discounting or bill discounting is a receivables financing wherein you sell your unpaid invoices to a lender for immediate cash to strengthen your working capital cycles.
What are the advantages of invoice discounting ?
With invoice discounting, one can get paid against unpaid invoices and fulfill their working capital finance needs. There is no collateral required.
What is an escrow account ?
Escrow account is an arrangement in which escrow amount is held by the third party,usually a lender, on behalf of the buyer and seller that are in the process of completing a transaction. It facilitates secure and safe transactions as the third party has the first right of withdrawal in case of default.
What is the eligibility for invoice discounting ?
The eligibility for invoice discounting depends on the business vintage and turnover.SMEs must have a minimum turnover of 3 crores and a business vintage of atleast 3 years to apply for online invoice discounting.
What is the maximum limit offered by Oxyzo for invoice discounting ?
It depends on the eligibility, your requirement and our comfort.If you meet our basic guidelines and our team has comfort in terms of credit assessment, we offer a decent proportion of the invoice value.
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