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At IDFC FIRST Bank, we offer Working Capital Finance to FPOs to help them expand their business activities and to meet the recurring business requirements.
Product offers various benefits, such as wider reach, simple documentation, quick processing, and attractive interest rate.Read More
Fast track FPO business growth with IDFC FIRST Bank FPO Working Capital Finance.Read Less
Following are the basic requirements to avail Working Capital Finance for FPO from IDFC FIRST Bank:
A Farmer Producer Organisation (FPO) is an organisation where its members are farmers or other primary producers such as artisans, dairy farmers, fishermen, etc.A FPO is a legal entity, which is registered as a producer company under the Companies Act, 1956.
Working Capital Finance to FPOs are designed to meet the credit requirements of the FPC or Farmer Producer Company / Organization, in the form of term loans to meet their recurring expenditure.
At IDFC FIRST Bank, minimum 300 farmers are required to avail Working Capital Finance.
The Working Capital limit is decided based on various factors like the number of Member Farmers, Financial documents (ITR, Balance sheet, Bank Statement), Total vintage since inception, FPO scorecard score, Credit Bureau Score. Maximum limit to FPO is restricted to Rs. 25 Lakhs.
Maximum Working Capital limit is restricted to Rs. 10 Lakh.
No security is required to avail the FPO scheme Working Capital Finance limit.
FPO Working Capital limit will have 1 Year tenor with monthly interest servicing frequency.
You need to submit the following documents while availing the loan:
• Simplified application form
• KYC Documents
• Financial documents of FPO
• Any other document, as per sanction condition
IDFC FIRST Bank FPO Working Capital Finance comes with a host of benefits, some of which are:
• Wider reach and better coverage
• Simple documentation & quick process
• No minimum vintage requirement
• Collateral security not required
Earn monthly interest credits on your savings account
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