The product to be named “BUSINESS BANKING LOAN” would cater to the working capital & trade related bank financing requirements of the Business Banking clients of the Bank. The products will be short term and long term in nature and will be completely secured. They can broadly be categorized into the following three packages viz.
➤ Pre Shipment Packing credit Cash Credit Forward Cover
➤ Post Shipment credit Overdraft
➤ Buyers credit (up to 180 days) CMS
➤ Letter of Credit Bill Discounting
➤ Bank Guarantee Term Loan – eligibility to be calculated as per separate for Term Loans
➤ Cash Credit/Overdraft
➤ CMS
➤ Bill Discounting
➤ Term Loan
➤ Forward package
The target segment, under this Product Programme, is the existing Business Banking entities of small & mid sized companies having export/import, or domestic businesses that have short term working capital finance requirements or prospective clients with similar profiles such that the maximum exposure stands limited to Rs.500 lacs.
Eligibility criteria assessment would be carried out as per the matrix below.
To meet the short term working capital bank finance requirements of the client and term loan facilities
Business banking clients under sole banking or under multiple banking with exclusive collateral security cover. The prospects would include Sole Proprietorships, Registered Firms, Private and Public Limited Companies (HUF, Partnership firm in which HUF is one of a partner, Limited Liability Partnership, NRI, PIO, Religious/Educational/Charitable Society or Trust to be excluded)
NCR & all locations where Bank’s Brach is operational
(Rs. in lacs) Min: 50
Entity must have 3 years business vintage, with minimum 2 years of audited financials. If entity is less than 3 years old, it will not be eligible unless it is a group company of an existing company having more than 3 years business experience in the similar line of activity. Corporate Guarantee of such parent company shall be required in such case.
If entity more than 3 years old last 2 year PAT positive. If entity less than 3 years old will not be eligible- unless it is a group company of an existing company having more than 3 years business and there is no cash losses in any of the loss making year
If entity more than 3 years old, last 3 years Net worth positive. If entity less than 3 years old, will not be eligible- unless it is a group company of an existing company having more than 3 years business.
Min = 25 years Max = 70 years
Basic entry level criterion have been laid down for all cases with respect to Gearing, Leverage, Current Ration and Interest Coverage Ratio
Market reputation of the borrower to be verified from independent sources and record of the same to be maintained in the prescribed
Immovable Property/ Liquid Security (Term Deposit, SBLC, LIC, NSC, Shares, Mutual Fund etc.). Adequate insurance cover must be taken for such collateral security, wherever applicable
Proprietorship - Main Proprietor and successor/spouse/relative Partnership Firm - All the partners Company - Key shareholders/directors, having overall 51%shareholding Owner of the collateral security/property. If age of an individual property owner is beyond 70 years at maturity, all legal heirs to be co-applicants or NOC and undertaking to be taken from all legal heirs. Mortgage of the property is to be created in any case.
➤ Gearing <= 4.00 (for trader 5)
➤ Leverage <= 6.00 (for trader 7)
➤ Current Ratio >=1.00
➤ ICOR >=1.25
➤ Photograph
➤ Company Profile
➤ Pan Card & Adhaar Card Copy
➤ Property Ownership Proof
➤ Office Address Proof
➤ Last 3 Years ITR + Computation and Balance Sheet with Audit Report and all Annexure
➤ Running Working Capital Sanction Letter and Loans Schedule
➤ GST Registration Certificate
➤ Last One Year GST Returns Copy
➤ Last Six Months Bank statement of all showing in balance sheet
➤ Last six months Saving Account Bank Statement of Applicant
➤ Company Profile
➤ Company Pan Card Copy
➤ Office Address Proof
➤ MOA & AOA with all form 32
➤ List of Directors and Share Holding Pattern attested by C.A. on letter head
➤ Last 3 years ITR+ Computation and Balance Sheet with Audit Report and all Annexure
➤ Running Working Capital Sanction Letter and Loans Schedule
➤ GST Registration Certificate
➤ Last One Year GST Returns copy
➤ Last six months bank statement of all showing in balance sheet
➤ Photograph of all Directors
➤ Pan Card Copy of all Directors
➤ Residence Address Proof of all Directors
➤ Last 3 Years ITR with Computation of all Directors
➤ Last six months saving account statement of all Directors
➤ Running Loan Schedule of all Directors
➤ Company Profile
➤ Company Pan Card Copy
➤ Partnership Deed
➤ Property Ownership Proof
➤ Office Address Proof
➤ Last 3 Years ITR+ Computation and Balance Sheet with Audit Report and all Annexure
➤ Running Working Capital Sanction Letter and Loans Schedule
➤ GST Registration Certificate
➤ Last One Year GST Returns copy
➤ Last six months bank statement of all showing in balance sheet
➤ Photograph of all Partners
➤ Pan Card Copy of all Directors
➤ Pan Card of all Partners
➤ Residence Address Proof of All Partners
➤ Last 3 Years ITR + Computation of Income with Financials of All Partner
➤ Last one Six Saving Account Statement of All Partners
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