Introduction
SME Loan is the funding of small and medium-sized enterprises and help for development of enterpreneurship or generating employment in the society.
Features
- Facilities Type: Overdraft Loan/ Term Loan/ Demand Loan and Short Term Loan
- Purpose: To Finance Working capital, capital expenditure requirements including refinancing of equity
- LTV: Up to 75% of FMV(Depending on nature of business).
- Term: 15 years.
- Overdraft: 1 year revolving basis.
- Demand Loan: 1 year payable on maturity.
- Competitive interest rate.
- Flexible Loan Tenure.
- Both funds based and non- fund based credit facilities.
- Easy Processing.
Required Documents
- Loan Application
- Audited and 3 years projected Financial Report.
- Copy of Firm/ PAN/ VAT Registration Certificate, Partnership Deed, Latest Tax Clearance Certificate.
- MOA/ AOA (If Any).
- Company’s Profile
- Board Resolution for opening account, Availing Loan, Delegation of Authority (If any).
- Copy of citizenship and 1 copy of PP size photograph of all directors.
- Project Proposal (If any).
- Profile (Biodata) of the Directors/ Shareholders.
- Documents related to fixed assets security (i.e. Lal Purja, Tiro Rashid, etc).
- Bank Statement.
- Detail report of Stocks, Account Receivables, Account Payables, Goods in Transit, Sales, Purchase etc.
- If Directors/ Shareholders are involved in other company details of the company.
- List of major Suppliers/ Buyers.
- Main products of the unit/ Firm/ Industry/ Company
Note:
- If the mode of transfer is “Rajinama” the cooling off period must elapse 1 Years 35 days
- For “Bakaspatra”- 2 years and 35 days.
- For “Ankshabanda”- 3 months.
- For “Mrityu Namsari”- 3 years.