Steel is the major raw material the company uses to engineer its products, and the company needs to stock steel to ensure there is enough stockpile of steel to cater to their clients
- Siddharth Forge was facing a shortage of working capital and had exhausted its credit limit with its banking partner.
- Siddharth Forge urgently required a capital infusion of Rs 2 crore to work on their expansion plans right when the pandemic struck.
- The shortage of funds made it impossible for the company to fulfil their buyer’s requirements, which affected the deliveries to their clients.
- The company lacked an in-house debt financing expert and couldn’t access the right debt deals to help them expedite its growth.
- Engaging with another bank would be tiring and a long-drawn process, thanks to the never-ending paperwork, long due diligence and compliance process.