The Bhartiya Mahila Bank is one such bank that lends the business loan up to the maximum value of Rs. 20 Crores to the manufacturing enterprises. It offers a loan to the women entrepreneurs at the concessional rate of interest and grants collateral free loan up to Rs. 1 crore under CGTMSE cover. For details regarding rate of interest, tenure and processing fee read the article below –
Interest Rate
10.15% p.a. -13.65% p.a.
Loan Amount
For retail trader and service enterprises: Up to Rs. 5,00,00,000
For manufacturing enterprises: Up to Rs. 20,00,00,000
Collateral free loan: Up to Rs. 1,00,00,000
Tenure
7 years
Processing Fee
As per bank's norms
HOW TO APPLY
The interested candidates can apply for the business loan by visiting the nearest bank branch or can contact the bank representatives on the customer care number.
ELIGIBILITY CRITERIA
The following segments are eligible to apply for the Bhartiya Mahila Bank Business Loan:
Sole Proprietor
Partnership Firms
Pvt. Ltd. / Ltd. Companies
Co-op. Society
LOAN APPLICATION FORM
The application form can be availed from the MSME branch of the Union Bank of India. The following details are to be necessarily field in the form:
Name and Address of the enterprise
Whether belong to SC/ ST/ OBC or Minority
Contact number
E-mail address
PAN Card
Constitution (Proprietory /Partnership /Pvt. Ltd. Co./Limited Co. / Co.-op. society)
Date of establishment
Name, address and PAN details of proprietors/ partners/ directors of company
Banking and existing credit details
Loan details
Details of collateral security offered
DOCUMENTS REQUIRED:
List Of Documents
Proof of Identity: Voter’s ID Card/ Passport/ Driving License/ PAN Card/ Signature identification from present bankers of proprietor, partner of director (if a company)
Proof of Residence: Recent telephone bills, electricity bill, property tax receipt /Passport/ Voter’s ID Card of Proprietor, partner of Director (if a company)
Proof of Business Address
Proof of Minority
Last three years’ balance sheets of the units along with income tax/ sales tax returns etc. (Applicable for all cases from Rs.2 lakhs and above) However, for cases below fund based limits of Rs. 25 lakhs if audited balance sheets are not available, then unaudited balance sheets are also acceptable as per extant instructions of the bank
Memorandum and articles of association of the Company/ Partnership Deed of partners etc.
Assets and liabilities statement of promoters and guarantors along with latest income tax returns
Rent Agreement (if business premises on rent) and clearance from pollution control board if applicable
SSI / MSME registration if applicable
Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan (for all cases of Rs. 2 lakhs and above)
In case of takeover of advances, sanction letters of facilities being availed from existing bankers/ Financial Institutions along with detailed terms and conditions
Photocopies of lease deeds/title deeds of all the properties being offered as primary and collateral securities
Position of accounts from the existing bankers and confirmation about the asset being standard with them (Required only in case of takeover)
Manufacturing process if applicable, major profile of executives in the company, any tieups, details about raw material used and their suppliers, details about the buyers, details about the major competitors and the company's strength and weaknesses as compared to their competitors
FEATURES AND BENEFITS
Concession of 0.25% in interest rate for women entrepreneurs
Combo of working capital and term loan
Flexible repayment tenure lasting up to 7 years
No collateral required for the loan up to Rs. 1,00,00,000
CUSTOMER CARE NUMBER
To solve your queries and doubts contact the product experts on 011- 47472100. The executives will provide you with the authentic information and resolve your doubts in the best possible way
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