Loan consultant in Kolkata:

Most of the people think, what is the point of engaging a loan consultant when they can go to the bank and apply for loan themselves directly? That’s always happening before they come to us and don’t know exactly what we do. Is it a good decision for a businessman to engage a loan consultant to secure a business loan in Kolkata? It’s very impotent for business owners who are looking for a business loan to expand their business. A businessman can apply a loan to a bank or credit institution himself. But the chances are very high of rejection nowadays. Because credit institution are tightening their loan policy and loan process becomes more complicated.

Loan consultants are here because they know what finance companies are looking at, to get your loan approved. Applying for a business loan (Working capital /Term Loan) an extremely complicated and lengthy process. Most importantly, for a small businessman or who is applying loan first time, it is a painstaking process to get a working capital loan to them. Most of the people don’t know what bank is looking for. We have more than eight years’ experience in the finance sector. Let us explain what a loan consultant does.

What the role of a consultant?

Most of the loan consultant work as an intermediary of the bank or NBFC. They collect all the documents and complete the file as per bank requirements. Help customers to complete a loan application. Follow up on the loan process to get loan approval quickly.

A good loan consultant not only works as an intermediary but also provides advice to ready required documents as per the bank’s requirement. They will advise, how to maintain business documents for future loan enhancement and better loan facilities.

What is the benefit of appointing a loan consultant?

Good network and Product knowledge:

A loan consultant, who is working for long years, has built a relationship with a large network of bankers, managers, credit officers, and lawyers. They work with so many banks and NBFCs. They came to know different types of loan products of banks and their policies. They know the advantage and disadvantages of loan products. A consultant knows the new product of the market. Therefore he can choose the best loan product for you which can fulfill your purpose.

Expertise and experience:

An experienced loan consultant has good knowledge of the lending processes and documentation. He is well aware of the loan product in the market, interest rate, and features. He knows terms and conditions of the product. He knows basic law and regulations of the lender. He has a basic knowledge of law related to the collateral offered as security for the loans. He has credit knowledge. That knowledge helps a consultant to understand your case better.

That knowledge and experience help a consultant to ready your file and present it in a proper way to a banker or a credit manager for a specific loan product.

Alternative strategy and practical advice:

Getting a loan through a loan consultant does not guarantee that you will get the loan the first time you applied to a bank. If the bank rejects your case for the first time your consultant can still work it out for you as he knows other finance options. You may not eligible for a traditional bank loan, but you may get a loan from other banks and NBFCs. An experienced loan consultant has a ready plan “B” and he can arrange finance for you from other credit institutions. He must inform you what are the reasons for your application are rejected. He can advise you, how can you improve your eligibility for a better credit facility.

Best product offer:

Many loan brokers present your loan proposal to multiple banks and NBFCs instead of single credit institutions. They believe you can get the best interest rate and terms. They can save your time to going one financer to another financer for your loan requirement. But a good loan consultant never does this. He knows very well the company and the product which will fit your documents and your requirement. You will get the best product for the first time. An experienced loan consultant takes a second chance rarely.

If a broker applied a loan for you to multiple banks at once then your CIBIL score will go down. Your app score will reduce also. If your loan is rejected then you can not reapply to this bank or credit institution within 3 to 6 months. Good credit institution doesn’t allow that customer proposal who applied to multiple credit institution within a short period of time. They treat a customer that customer need fund badly and after getting fund customer will not be able repay the loan timely.

After applying for a loan and get rejected, the consultant will make you understand your problem and advice you how can you solve the problem within a short period of time. After solving the problem they can apply to other credit institutions in the next few months.

Take care of all little things:

A loan consultant studies your credit profile and makes you understand how can deal with credit managers.

Different credit institution has different credit criteria that most of the customer not aware of. Your business may be negative in a bank but other banks or credit institutions may provide you the loan. A good consultant is very careful about all little things. He makes you prepare and increase your chances of getting a loan.

Consultancy fee:

Most of the consultants may charge their consultation fee by a percentage on the basis of the loan amount disbursed. Some consultants may not charge you a commission as the get payout from banks and NBFC. Authorize DSA / Agents or consultants may charge a decent amount of commission compare to the loan broker. Be aware of a loan broker or agent who asks for an advance fee without applying the loan for you.

How to choose a good consultant:

There is no use of knowing the advantage of loan consultants if you are unable to choose a good loan consultant.

Proper business address:

A good loan consultant should have a business address. He may not have an office is in the business hub but he must mention his home address in his business card. A professional loan consultant has his won office, website, business contact, business email ID. You can prefer those consultants who has all the above.

Lack of transparency:

You can ask your loan consultant about his network banks and credit institutions. You can ask him about the loan products he offers. Even you can ask him how he will do your job. If he answers your entire question clearly you can go ahead with him. Always remember a professional loan consultant charge a decent consultation fee. If your consultant hides anything and unable to answer your question then find any other consultant.

Who can be a loan consultant?

There are lots of people in the market as a loan broker or loan agent. But everybody can not be a loan consultant. Generally, a chartered accountant, tax consultant, auditor, ex-banker, or manager (from credit institution) can be a loan consultant who has good knowledge in the banking and finance sector.

Over Promises:

Avoid those loan agents who guarantee to arrange a loan without checking your financial or credit history. No consultant can guarantee your loan. Nowadays, loan approval depends on a team. The team includes a verification agency, lawyer, technical team, credit managers. When every team member provides a positive report then the only higher authority of the credit institution will approve your loan.

Now you came to know not only a consultant but also a manager can’t guarantee you of your loan approval before the process is completed.

However, an experienced loan consultant can check your all documents and he can say your loan getting probability. You must avoid those people who provide the guarantee of your loan approval.

Why do you choose Naskar Finacial Services as your loan consultant?

Naskar Financial Services is not only a loan DSA (Direct Sales Agent) but also a loan consultant. We don’t work like other loan brokers or agents. Generally, most of the broker or agent collect documents from customers and Xerox it and send it to many banks and credit companies. They take a chance to approve your loan from any company.

We don’t have this kind of practice. Once we get any inquiries from customers, first we do initial discussion with the customer then we request potential customers to provide required documents and we provide a specific document list accordingly. After getting documents, our experienced consultant read all the documents thoroughly.

Most of the time, those customers come to us who faced problems getting a loan from a bank or their proposals get rejected from any credit institution. Therefore we try to find out the problem to check customer’s documents and discuss it with the customer. Then find out the solution. We are like a specialist doctor. Here you can choose us as your credit doctor.

Our process and procedure:

We follow a process that a bank or credit institution does to approve a loan.

Before submitting a proposal to a bank we do the following process:

First, we do a personal discussion with the customer by our expert consultant. Then we request customers to provide all documents as per loan requirement along with our filled up form. Then our expert consultant read documents thoroughly. We check all financial documents, then customer credit history as well as CIBIL score and credit report. We check all the banking details. Our consultant checks all legal papers and technical papers if it’s a secured loan. Then we visit customer property which he wants to mortgage.

All the documents are verified as per credit institution rules and regulations. If we find any problem or error with the document then we request the customer to rectify the problem. An error can be in financial paper or it can be on a credit report. We also help customers to rectify financial documents. We also correct the credit report (CIBIL score). If legal documents are not completed as per credit institution norms then we request customers to ready all the documents.

Next stage, we decide the bank or credit institution and loan product which will fit the customer’s profile and requirement. We inform customers about possible loan offers. Then we submit the proposal to the credit institution.

If the customer is not eligible as per our expert evolution then we return the file to the customer. We provide advice on how he can make him eligible for a loan and how to prepare all the required documents.

### Remember- We do not prepare any false document and never advised to make any false document. As we check all the documents before submitting a proposal to the bank, therefore our loan approval rate is very high.

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