Seeds and Agro – An agricultural success for working capital

First things first, an introduction- I am Saurabh Dev Pandian, the Director of Finance for Seeds Agro and Products Private Limited. We are a private limited company and a highly sought after exporter and supplier of a wide array of products in Tamil Nadu. We offer seeds of the open pollinated and hybrid kinds, plant oils, charcoal, processed grain flours, natural honey, nuts and more. Since the inception of our firm in the year 2007, we have been carving our own niche in the market. Our staff and processing units are set to the highest possible standards to ensure optimal quality for all our products. Our main office is located at 1/436 Lakshmi Nagar, Aathipatti, near Royal Garden Hotel, Sempatti- 626101, Aruppukottai.

From humble beginningsĀ to growth in agriculture

In 2007, the CEO and my dear friend Mr.Rohin Bhaskar started this company on his own. At that point, he was growing crops and making honey out of his backyard. Nine gruelling years later, Seeds Agro and Products had a credible name in the agricultural industry. By keeping up to date with the latest technologies and by computerising several processes, he managed to move ahead of several competitors. By this stage, we had a workforce of 1500 people working at three factories across Tamil Nadu. Our products could be found at 250 retail stores all across the state. Since we were doing so well, we decided to expand our operations to Kerala.

Difficulties managing working capital

The cash flow demands of our day-to-day operations had been getting higher, the more we scaled up our operation. In order for the operations at our new factory to run efficiently, we required funding. We knew, that once everything was running smoothly, the workig capital cycle would regularise, but for the time being, it would be a necessary requirement for us to have and apply for.

In 2007, the CEO and my dear friend Mr.Rohin Bhaskar started this company on his own. At that point, he was growing crops and making honey out of his backyard. Nine gruelling years later, Seeds Agro and Products had a credible name in the agricultural industry.

Difficulties from existing lending companies

We applied to several state-run banks for a loan, but all our applications were denied. It was a hard time for the company- a majority of our revenue stream was redirected towards the new factory, so we started seeing a lull in productivity in our other ones. We went back to the bank, enduring meeting after meeting with endless officials. We were not willing to use informal channels to bail us out due to the often unreasonable demands of the lenders. We were losing hope and starting to consider shutting down our new factory.

The cash flow demands of our day-to-day operations had been getting higher, the more we scaled up our operation. In order for the operations at our new factory to run efficiently, we required funding.

Referral to MarketFinance India

It was then that one of my colleagues approached me and told me about MarketFinance India. He had a friend working there, so he knew a little bit about them. A little research gave us the spark of hope we needed. Through one simple application form, we could reach 15 banks and 237 angel investors. This sounded amazing since it could save us a lot of time and unnecessary lines in queues. I contacted them online, and a representative called me almost immediately, walked me through the whole procedure and answered all my queries.

We applied to several state-run banks for a loan, but all our applications were denied. It was a hard time for the company- a majority of our revenue stream was redirected towards the new factory, so we started seeing a lull in productivity in our other ones.

Information security and encryption

One of my hesitations was about the security of the information that we would have to provide. I was informed then about their secure online mechanism and guaranteed of its safety. They even provided several references of other business owners who have benefitted from their services.

Successful financing

MarketFinance India helped us secure a working capital loan of Rs.10,00,000 at 1.35% interest flat per month for twelve months. We managed to secure this loan a mere two weeks after applying for it- in stark contrast to the three months we spent at other establishments. Our operations were up and running smoothly in ten months, and we were able to pay off our loan with no issues thanks to the reasonable interest rate. We even managed to get refinanced, so that we can open a new factory in Karnataka in the near future.

I highly commend MarketFinance India for their excellent customer service and quick and efficient work. I’m grateful for being introduced to this company. The ease of operation and the reduction in formalities gives us more time to grow our own company. We can move forward with a relative ease of mind, knowing we have a reliable firm backing us up. We highly recommend the services of MarketFinance India.

MarketFinance India helped us secure a working capital loan of Rs.10,00,000 at 1.35% interest flat per month for twelve months. We managed to secure this loan a mere two weeks after applying for it- in stark contrast to the three months we spent at other establishments.

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