#1 Licensed Money Lender Directory

1. A cowl letter with the company seal affixed to it

2. The official address of the individual applicant or Firm.

3. Workplace tackle of the individual applicant or Company

4. Certified True Copy of the CAC Incorporation Documents- CAC 2 & or CAC Kind 1.1

5. Memorandum and Article of Affiliation of the company

6. Certificate of Incorporation of the company

7. Tax Clearance for the individual applicant or Company Physique, if it is an organization newly included, then provide evidence that the corporate is a registered taxpayer.

8. Three-year tax clearance for not less than 2 administrators of the company where the applicant is an organization.

9. Police Clearance for the person applicant or directors of the corporate

10. Reference Letter from a business financial institution

11. Visitation and inspection.

“We have seen many instances below the new rules where the debtors have been told to renew their legal loan by paying 14% of the precept amount. This might presumably be an unconscionable transaction on condition that the debtor finally ends up paying more per month than what would have been due per month below the new rules” stated Mr Lee Ee Yang, the managing director of legislation firm Covenant Chambers LLC.

Also, it’s imperative that we act quickly. Most MSMEs surveyed within the report only had cash-flows lasting a month. Even others stated they could last 3 months at finest. In the event that they go bankrupt in the meantime, they aren’t coming again. It’s Endgame. Not only for MSMEs, but the job market in India.