Prime Factor Business Solutions Pvt. Ltd.
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ACCOUNTING - for efficient management of business
PRIME FACTOR, is a cloud based accounting software.
Entry of transactions in application requires no prior accounting knowledge. Easy to use templates and the guidance notes under each menu give the comfort and the confidence for the correctness of the entries.
Being cloud based, access can be given to the team at Prime Factor to support in difficulties and also chat with a Chartered Accountant to clarify doubts. This feature enables internal audit of the accounts at no extra cost.
The reports generated guide the business owner as to where the business stands and what action needs to be taken for correction, and also if needed, seek advice from our experts for related decisions. The advice is part of the registration and only actions if undertaken by Prime Factor are charged extra.
It meets the accounting requirements as well as the management needs for decision making without having to wait for someone to review or analyse the same.
WHY USE PRIME FACTOR?
For more clarity and confidence in the application, read the FAQs and if needed, get in touch with us.
FINANCING - for operations and growth
Loan from banks -
What do we do?
We arrange loans from banks.
Term loans for purchase of land, construction of building, buying offices and creating infrastructure. We also arrange corporate loans, trade finance, SME finance & project finance for businesses.
Working capital loans for the operations of the business.
How is this done?
We assist in the preparation of the project report and submission of application to the banks. We ensure that the forms are filled correctly and the norms are met rightly. Our experience has taught us the value of time spent in these preparations that helps avoid delays of sanction from the banks.
What more do we do?
We interact where needed to clarify the bankers on the proposal and also guide in completing the formalities for sanction and release of the loans. Where necessary, we also try and help in providing the margins for the additional limit sanctions that may be needed to meet the norms. We bridge the gap wherever possible.
Capital from angel investors and venture capitalists -
What do we do?
We arrange equity capital, preference capital, quasi-debt, convertible debt and unsecured loans from angel investors, venture capitalists, non-banking finance companies and high net worth individuals.
How is this done?
We undertake to prepare the business plan, the presentation and negotiate on behalf of the clients.
We discuss the valuation, shareholding, mix of financing options and work towards a conclusion that is best for both the investor and our clients in the long run, in a fair and transparent manner.
What more do we do?
We assist in due diligence, drafting of shareholders’ agreements and completion of the legal formalities to ensure smooth and safe investment in the venture.
Short term financing -
We assist in arrangement of short term finance to tide over unforeseen shortfalls in cash flow to our clients who have subscribed to our software for their accounting. The facility is provided to overcome exigencies to meet tax payments and statutory liabilities without any delay. It can be availed for timely payment of salaries to staff, repayment of bank loans and suppliers of goods, etc.
Why do we do this?
We do this because -
How do we do this?
Registered users of the accounting software would only be supported with short term financing. This would be for a short term not longer than three months and also not more than twice for the same level of operations. Firms seeking assistance for a third time would be assessed and assisted for support from financial institutions and banks or other permanent sources. No collaterals would be sought but the borrower’s cheques or other suitable instrument would be taken as a safeguard for honouring the commitment.
TAX & LEGAL COMPLIANCE - for correct & timely compliance
Our team, where authorized, offer to remind clients about the tax obligations to be met by them. We do online checks for the timely compliance and prevent complacency in these matters. We clarify the legal position on the present laws and encourage our clients to strictly adhere to the legal provisions.
Our exigency support would act as one safeguard to ensure timely payment of taxes to avoid interest and penalties.
Cash availability being the major concern of most of the businesses, our support in finance for such a need should help them comply with time.
We would play safe in compliance and conservative in interpretation of the laws.
Apart from tax matters, we offer consultancy in the following business laws:
Company Law, Foreign Exchange, Securities Law, Labour Laws and drafting of agreements.
MOTIVATION & SUPPORT - for management and operations
SUPPORT IN MANAGEMENT
Most small business owners need mentors. They are by and large good domain experts. We offer our experience and expertise to help them manage situations that come up in day to day management, particularly from employees, bankers, customers and the Government.
Where necessary, we also seek the help of other professionals and also use our network to provide the needed guidance and support to business management at a reasonable cost.
MOTIVATION & SUPPORT - for growth
We believe – “No business is big enough not to grow and No opportunity is small enough to ignore”.
We consider growth as the purpose of our association.
We engage with our clients in evaluating growth opportunities and offer our guidance and the network to expand their business. We take the initiative to suggest and encourage our clients to look beyond their comfort levels and take all the necessary steps to achieve the larger purpose of our association ‘growth’.
We bring in growth opportunities from our network or resources and align it with our client’s business.
We constantly remain in dialogue with the clients towards this and take every opportunity to discuss and fill in the missing things that slow down growth or block progress. We are extremely passionate about this.
We motivate and activate our clients to grow faster.