Pre Onboarding
udaanCapital Credit limit allows you to get exciting cash discounts from your suppliers and interest free credit for your purchases.
The basic eligibility criteria for credit is that the applicant should not be a minor and should be running a GST registered business.
We require the business owner to upload Bank and GST return statements. Based on these details along with your Bureau history we will provide a tentative credit limit. Final credit limit will be subject to KYC documents validation and address verification.
In order to check the status of your application you need to login into your udaanCapital account and check the dashboard for the latest updates.
Once the required document is uploaded the tentative limit will be displayed within minutes and final limit generation will take 1-2 days subject to KYC documents validation and address verification.
The application can be rejected for multiple reasons :
Once the final credit limit is approved you will be notified via SMS/Whatsapp/Push Notification and post that you need to login into udaanCapital application to complete the post approval steps like NACH setup and E-agreement signing.
Post Onboarding
You can either upload an invoice or you can also approve & pay the invoices already uploaded by your supplier using udaanCapital mobile application or website.
You can use udaanCapital mobile app or website to upload the invoice. Post login on Dashboard you will have a button “Pay Supplier”.
After logging in to udaanCapital account, You can see the status of the invoice under Dashboard => Suppliers => Invoices => Select invoice.
There are multiple reasons for the rejection of invoice such as GST number missing, duplicate invoice, seller details not correct, invoice image not clear, invoice incomplete etc.
You can use udaanCapital mobile app or website to approve and pay the invoice uploaded by your seller. Post login on Dashboard within “Pending Actions' you will see a button “Pay Supplier”.
Once an invoice is uploaded/approved and paid via credit limit typically your seller will receive the money from 4 hours to 12 hours. This is also dependent on the working hours of our partner banks.
Once payment is credited to your supplier you will be able to find the UTR within Dashboard => Suppliers => Invoices => Select invoice from the list of invoice => Refer UTR within “Settlement Transactions” section.
If the UTR number is generated and your supplier has not received the money after a few hours of UTR generation then please raise a support ticket with us by writing to [email protected].
In order to make a repayment you need to login into udaanCapital app, select CreditBuy on the dashboard and make the payment using your preferred payment mode.
Once your payment is successful then it will take 4 to 6 hours for us to credit the money in your credit account. In case it does not get reflected post that also then please raise a support ticket with us by writing to [email protected].
If your repayment is irregular or your line outstanding amount is overdue then your credit line will get automatically suspended by our system.
Post you clear your credit dues, udaanCapital will reactivate the active. In case if it still does not get reactivated, please raise a support ticket with us by writing to [email protected].
Autopay
Underwriting team enables account where NACH is to be taken. If there is a change in account, customer needs to provide new bank statement to support and request for NACH change. Underwriting team will enable account for mandate request.
You will receive an SMS when a standing instruction is executed and your account is debited.
Yes, If NACH presentation is not scheduled for current date. Please write email to [email protected]
Yes, you can request for cancellation of a Mandate from at https://udaancapital.com/capital/customer-support. You need to click on "Cancel Autopay" Button and provide appropriate details in next page.