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SME Loans

Banking and Non-banking financial companies grant business loan for various purposes like starting new venture, working capital requirement, purchasing of fixed assets, business expansion / modernisation, technology up-gradation, research and development or any other short-term requirement.
Types of SME Loans :

Most common types of SME loans are loans for Each and every business (for a startup or expansion of an existing business) requires machinery loans. A business loan for purchase of equipment is also called a 'bill of sale'. Such loans are usually bought for purchase of machinery. Generally the machinery itself acts as a collateral security.

Features :
  • Maximum loan against the machine value
  • Machine can be used as a collateral
  • Min loan start from 10 lacs
  • Working capital loan

A working capital loan is a loan used by companies to cover day-to-day operational expenses. It is basically the investment in current assets like raw materials, stores, semi-finished goods, finished goods, sundry debtors etc. (Financial assistance given to entities to help them run their business). It represents the money that is required for purchase / stocking of raw materials, payment of salary, wages, power charges etc. and also for financing the interval between the supply of goods and the receipt of payment thereafter.

Benefits :
  • Quick approval and processing of documents
  • Wide variety of facilities offered
  • Flexible collateral options
SME Loans Rates :
  • Different products attract different ROI.
  • The Loan interest rates range from 9.55% to 18%.
  • However, the rates keep changing with the guidelines from RBI.
SME Loans Eligibility Criteria :

The SME loans are eligible for

  • Micro Enterprise
  • Small Enterprise
  • Medium Enterprise
Document Individual Sole Proprietorship Private/Public Limited Partnership/ LLP
Latest 3 years ITR’s with Computation of Income, Profit and Loss account, Balance sheet, Schedules, 3CB and 3CD for Company X X YES YES
Latest 3 years ITR’s with Statement of Income for all Individuals. X YES YES YES
Latest 1 year Bank statement for all Individuals and Company. YES YES YES YES
Latest 1 year track record of all existing loans with sanction letter copy’s (IF any) (Applicable for Individual & Company) YES YES YES YES
Company Registration/Incorporation certificate X YES YES YES
Company Profile on the Letter Head X YES YES YES
Promoter/Directors Profile X YES YES YES
Vat Returns till date (If Applicable) X YES YES YES
VAT & Service Tax Certificate (If Applicable) X YES YES YES
ID & Address proof for Individual and Company (PAN CARD Mandatory) YES YES YES YES
MOA(Memorandum of Association ) and AOA (Articles of Association) X X YES X
Partnership deed X X X YES
One set of legal documents related to the property YES YES YES YES
Relationship proof YES X X X
Latest 3 months pay slips with 2 yrs Form 16 from the current company YES X X X
Latest 6 months bank statement with salary credits YES X X X
Latest CTC YES X X X
HR Letter from the Employer YES X X X
Qualification Details YES YES YES YES
3 Passport size photo (For the applicant & Co-opplicant) YES YES YES YES
Self attestation on all the documents YES YES YES YES
Processing fee cheque YES YES YES YES
Rental Income Proof (If Applicable) YES YES YES YES
Rental Agreement ( If Applicable) YES YES YES YES
Apply for SME loans :

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