The "Apply for credit" feature allows buyers on Zarea to apply for a line of credit to facilitate their purchases. This helps buyers manage their cash flow and make larger purchases without immediate full payment.
Eligibility for credit is determined based on various factors, including credit history, business performance, and other financial criteria which includes, Minimum turnover 3 crores and Business vintage 3+ years.
To apply for credit, log into your Zarea account, navigate to the "Apply for credit" page, and complete the application form. You will need to provide financial details and supporting documents as requested.
Typically, you will need to submit a Company Incorporation Certificate, Tax Registration Certificate, 1 Year Bank Statement, Copy of Post Dated Cheque and Credit Request on Letterhead.
The approval process usually takes 72 hours.
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