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Loan Against Card Receivables (LACR) is a facility especially for retail businesses that receive payments through customers via Debit / Credit Cards, Such as Restaurants, Hotels, Garment Merchants, Jewellers, Petrol Pumps, Automobile workshops & Spare Dealers, Dealers of Electronics & Consumer Durables, Diagnostic & Medical Services.

The Facility is offered as an unsecured overdraft (OD) or Dropline Overdraft (DLOD) to fulfill immediate financial needs for:

Advantages of Loan Against Card Receivables (LACR)

Eligibility for Loan Against Card Receivables (LACR)

Any of the following Indian business entities

Documentation for Loan Against Card Receivables (LACR)

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FAQ - Loan against Card Receivables

A loan against card swipes is granted to a merchant on the amount of swipes per month into his bank account, through the POS machine installed by the bank. It is a quick method of financing short term working capital.
The maximum cap differs between banks. It can range up to Rs.3 Crores, depending on the amount of swipes and the repayment potential of the company.
Any proprietorship, partnership, private and public limited company can avail this facility. Employment Criteria:
The policy of security differs between banks. Few banks require collateral security in the form of immovable property. Any self-occupied commercial or residential property can be given as security for the loan.

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