To be more detailed, credit syndication does involve the following services

(i) Estimation of the total costs/expenditure on the project.

(ii) Preparing a financial plan to meet the total cost of the project keeping into consideration the requirements of the promoters and their collaborators, financial institutions, banks, government agencies and underwriters.

(iii) Assisting the clients in the preparation of loan applications for financial assistance from term lenders/financial Institutions/banks and monitoring their progress.

(iv) Making selection of the institutions/banks for participation in financing.

(v) Follow-up of the term loan application with the financial institutions and banks and obtaining the satisfaction for their share of participation.

(vi) Merchants banks help in expediting legal documentation formalities listed by the participating financial institutions and banks and help in completion of formalities also.

(vii) Merchant banks also help in estimating the working capital requirements and assist the client in negotiating for the sanction of appropriate facilities.

(viii) Arrange bridge finance which could be either as a part of the main loan sanctioned to the client by the term lenders or it could be amount against the issue of capital or may be both.

Function # 7. Arranging Working Capital Finance:

Finance for working capital is provided usually for new ventures or for existing companies through issue of debentures. Grindlays bank claims to offer expertise for meeting the requirements for long-term working capital for private placement of secured debentures. Grindlays Bank helps the company in obtaining the enhanced cash credit facilities as well as bill discounting facilities for their customers or suppliers from banks.