BANK OF INDIA
Axis Bank offers fast track loans for SMEs under the following schemes. Loans under below mentioned products are approved subject to fulfillment of terms and conditions laid down in respective products which includes risk analysis on the Management, Business, Financial parameter
Loans upto Rs. 5 crores.
Flexible repayment options of upto 10 y
Attractive market related interest rates
Fast processing and quick disbursement
Manufacturing, trading and services units
Minimum track record of three years
Profits in the last two years
Minimum security coverage as per the product scheme
Profile of the group concerns
Financials of the entity for the latest 2 years
Bank statements of the entity for the last 12 months
Office Proof of the entity
Copy of title deeds of the property with Municipal Tax Receipts and Sanction Plan
Copies of all lease and sub lease agreements in connection with the property
MOA and AOA in case of Company or Partnership Deed in case of partnership firm
Latest 2 years Personal Balance Sheets and ITRs of the directors or partners
Bank statements of the directors or partners for the last 6 months
Identity proof of all the directors or partners
Residential Proof of all the directors or partners
For acquiring/adopting energy conservation/savings equipments/measures by SMEs
Units under Small and Medium Enterprises
Cost of energy for the unit should constitute not less than 20% of the total cost of production
Unit should possess energy audit report issued by an approved energy Consultant/Auditor.
Borrowal a/cs-ASCC code S1 or S2 during previous review.
Current account holders having dealings exclusively with us satisfactorily for a period of last one year
Maximum Rs 100 lakhs in the form of Term loan
Prime: Assets created out of loan
Collateral: Upto Rs.5 lakhs – NIL
Above Rs.5 lakhs, as determined by the Bank
Maximum 5-7 years including moratorium of 6 months
Cover available under CGMSE of CGTMSE available for eligible loans
10% of the project cost
Rate of interest
1% less than the applicable rate
1% of the loan
Assets acquired and charged as security to Bank to be insured
Special offer, if any
Grants : Bank provides 25% of the cost of Energy Audit / Consultancy charges with a maximum of Rs 25000/- to the first 100 units on a first come first served basis which is in addition to the grant of Rs 25000/- being provided by IREDA(First 100 units)
Conditions apply. The information provided above is only illustrative and not exhaustive.
RATING OF SMEs by External Agencies
Canara Bank has entered into MOU with CRISIL Ltd., SMERA (Small & Medium Enterprises Rating Agency) and Brickworks Ratings India Pvt Ltd for rating of SMEs.
The rating agencies have offered concessional rating charges to Non-Small Enterprises recommended by the Bank.
Subsidy from NSIC is available towards the rating fee in respect of Small Enterprises.
Rating of SMEs by external agencies shall ensure fast processing of loan applications and increasing credit flow to SME sector.
The rating agencies will assess the units and award the ratings on a defined scale and the ratings so awarded shall be valid for one year.
Speedy loan processing
Flexible repayment options
Cash Credit and BG/LC limits for working capital requirements.
Term Loan for setting up/Refurbishing an existing unit or for purchase of fixed asset.
Period of loan
Term Loan – Upt o 120 months
Working Capital – Up to 30 months
Non Funded(BG/LC) – Up to 30 months
Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card/Aadhar Card)
Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax
Bank Statement (latest 6 months bank)
Last 2 Years ITRs (computation of income), audited Balance Sheet and Profit & Loss a/c, if applicable
Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
Other documents may be requested as per individual requirements.
REPAYMENT OPTIONSt Options
Repayment of the loan is made as Equated Monthly Installments (EMI).
You can use any one of the ways to repay the loan:
Standing instructions at your branch
State Bank of India
Purpose of SME Collateral Free Loan Scheme
1. Working capital needs (Fund Based + Non Fund Based).
2. Term loan for construction of Building, office, acquisition of machines / equipments including expansion and modernization of the unit.
Nature of Facilities Allowed in SME Collateral Free Loan Scheme
They are one or multipples of the following subject to bank's discretion:
Letter of Credit
Loan Amount of SME Collateral Free Loan Scheme
Total Exposure to the unit: Upto Rs. 1.00 crore (All facilities WC, TL & NFB facilities)
Interest Rate of SME Collateral Free Loan Scheme
Attractive rates of interest. See for updated interest rates.
Service Charges for SBI SME Collateral Free Loan Scheme
150% concession in processing and service charges. See for updated service charge and processing fees.
Other charges as applicable.
Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) Guarantee
Borrowers eligible under the scheme will be covered under CGTMSE guarantee scheme.
The Guarantee Fee & Annual Service Fee as per the rates prescribed by CGTMSE from time to time to be borne by borrower.
Security for SBI SME Collateral Free Loan Scheme
Security as defined by CGTMSE: “Primary Security” in respect of credit facility shall mean the Assets created out of the credit facility so extended and / or Existing Unencumbered assets which are directly associated with the project or business for which the credit facility has been extended. (i.e. Plant, Machinery, land & building pertaining to the project or business).
Guarantee: No third party guarantee is required. However in case the constitution of the borrower is proprietary or partnership, the personal guarantee of proprietor / partner is not treated as third party guarantee
Repayment of SBI SME Collateral Free Loan Scheme
Working Capital (WC): One year, repayable on demand. Working capital limits will be renewed every two year. However, performance of the unit and conduct of account will be reviewed annually for continuation of limits.
Term Loan: Maximum Seven Years including moratorium period.
BANK OF MAHARASHTRA
To provide professional, efficient, courteous, diligent and speedy services in the matter of SME lending.
For covering the advances under Credit Guarantee Funds Scheme, a Guarantee Fee @ 1.50% of credit facility sanctioned for a period of 5 years (borne by bank) and Annual Service Fee @0.75% of outstanding amount as on 31st March every year is payable (50% of the annual service fee borne by the Bank).
I] Advances to Micro & Small Enterprises having total limits (Fund + Non fund) upto Rs. 25.00 lakhs:
Rate of interest in respect of all the new MSME advances having total limits above Rs. 25.00 lakhs will be decided as per the Credit Risk Rating. Fixed ROI for the first year as per earlier guidelines will not be applicable for new advances hereafter.
In respect of existing advances, stipulated interest rates for the first year of advance will continue as per earlier guidelines. On completion of first year of advance, new rates will be applicable as per their Credit Risk rating as given hereunder.
The following structure of interest rates will be applicable from entry level point for all the new accounts having total limits above Rs. 25.00 lakhs and existing accounts having total limits above Rs. 25.00 lakhs, which have completed first year of advance.
The same interest rates are applicable to all the advances availing working capital facilities and / or term loan facilities.
BANK OF BARODA
Baroda SME Loan Pack
provides single line of credit for meeting SME borrowersï¿½ working capital as well as long term requirements within the overall limit approved by the bank.
- To provide hassle free credit for working capital (fund based and non-fund based) as also long term requirements, taking into account nature of business, cyclical trends, cash flow projections, peak time requirements and any eventuality of unforeseen spurt in the business.
- All Enterprises, i.e. Micro, Small & Medium Enterprises, as defined under MSMED Act, 2006, and other entities with annual sales turnover up to Rs. 150/- crores exclusively banking with our bank/new borrowers desirous of having sole banking arrangement with our bank.
COMPOSITE LIMIT :
- 4.5 times of borrowerï¿½s tangible net worth as per last audited Balance Sheet, or, Rs. 5.00 Crores, whichever is lower.
MARGIN : 25%.
RATE OF INTEREST :
- As per credit rating of the borrower.
1.Exclusive charge on the assets of the enterprise.
2.Personal Guarantees of all promoter Directors / Partners.
3.Charge on the unencumbered personal properties of the partners, promoter Directors, wherever applicable.
4.Third party guarantee in case of credit line above Rs.100.00 lacs to Micro & Small Enterprises as per Regulatory definition.
5.Any other collateral for the credit line above Rs. 25.00 lacs in case of other Enterprises, i.e. Medium Enterprises and Enterprises based on the turnover criteria to maintain asset coverage ratio above 1.25.
OTHER FEATURES :
- Loans upto Rs. 100/- lacs to Micro & Small Enterprises will be covered under Credit Guarantee Fund Trust Scheme.