Purpose
Term Loan:
- For purchase/acquiring of industrial shed.
- Construction of Industrial building
- Addition/alteration/expansion of factory building.
- For purchase of another shed/unit for industrial purpose.
- Purchase of new office premises for sales and administrative purpose.
- Purchase of new and second hand machinery.
Overdraft (Secured):
- For Working Capital requirement of the unit.
Eligibility
- All industrial units falling under the definition of MSMEs (manufacturing).
- All other industrial entities other than MSMEs whose annual sales turnover up to Rs. 100/- crores.
Documents
- All KYC documents, address proof, pass port size photographs etc.
- Financial statement of the last -2-years along with copy of IT Returns.
- Copy of Registration /License /GST/VAT registration copy, Govt. approval required to start manufacturing unit.
- Last 12 months statement of accounts of Main Bank account in case main account is not with the Bank
- Original title deeds of the property/plot/unit to be purchased and offered as security for creation of mortgage.
- Quotations for machinery (new) and valuation report for old machinery to be purchased.
- Sale agreement in case of property/unit to be purchased from builder, seller
- Receipts of latest maintenance, Water Tax, Municipal Tax and any other such charges/taxes.