Industrial Term Loan & Overdraft

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.