MSME - Small Business Loans

MSME - Small Business Loans

Purpose of Loans

  • To meet credit needs of trade
  • Repairs, Renovation & extension of Business Unit
  • Machinery Purchase
  • Consolidation of Business Debt

Eligibility & Loans Criteria

  • Customer segment- Individual / Proprietor / Partnership
  • Minimum age at application - 25 years and maximum age at loan maturity - 65 years
  • Residential & Business stability- 3 years in the current residence & business place
  • Minimum experience - 3 years in the current business
  • Property in case of secured loan should be approved by appropriate authority

List of Documents Required

  • PAN Card - For Individual / Partnership Firm
  • Identity Proof - Any one (e.g. Voter ID / Driving License / Passport)
  • Address Proof - Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
  • Business Continuity Proof - Any one document dated 3 years old (Bank Statement / Sales Tax Challans / IT Returns / Shop & Est. Certificate / Partnership Deed)
  • Income Proof
    • ITR with financials for at least one year filed at least 4 months prior to date of application
    • GST returns
    • Bank credits for last 6 months validated through original statement
    • Kachha Bills / Purchase Bills / Purchase or Sales registers
  • Complete Collateral Documents for secured loans including EC wherever applicable

Features:

  • Secured plus, Secured & Unsecured loans for self-employed businessmen/professionals
  • Term loans up to Rs 50 lacs.
  • Flexible loan tenure starting from 12 months.
  • Attractive financial terms.
  • No ITR / balance sheet required upto 25 lakh.
  • Simple documentation and hassle-free processing.
  • Faster processing of loan application
  • Personalized relationship officer.