Bill Discounting

Under this facility, we provide upfront payment to the suppliers for their receivables due from reputed corporate and collect the same from the corporates as per the credit period.

This facility reduces the working capital finance concerns of the suppliers and enables them to ensure timely delivery of goods which, in turn, helps the corporates to plan their production.

Our programs work on electronic platforms by which we ensure minimum paper work, auto reconciliation as well as immediate credit.

Salient features

• Immediate payment to the supplier on acceptance of goods by the corporate
• Payment of invoice/ bill value after deducting discounting charges
• Discounting charges as per the arrangement
• Ad-hoc limits to support immediate requirement of supplies
• Early repayment of any invoice/ bill is possible

Period of loan

• 1 month to 6 months

Documentation

• Last 3 years’ audited financials of the applicant
• Last 3 years’ ITR of the applicant
• Power of attorney executed by the applicant in favour of MCSL to receive the payment directly from the drawee of the bill
• KYC documents of the borrowing entity and all the signatories for the facility
• Last 1 year’s bank statement
• Details of other loans taken from banks/ NBFCs

FAQ

Q: Who will bear the discounting charges?
A: This depends upon the arrangement between the supplier of the goods and the purchaser

Q: When payment is made?
A: Payment will be made within one working day