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.