ICICI Bank Business Loans | Eligibility | Interest Rates | Apply
ICICI Bank Business Loans: Get Details on EMI, Interest Rates, Eligibility, Documents & Processing Fees & Charges and Apply online for small business loans with ICICI Bank Online.
For a small or medium business, timely finance is the key to making the most of business opportunities. At ICICI Bank we understand. We have a host of innovative loan and overdraft products that can make all the difference to your bottomline.
ICICI Bank Offers: two products in Business loans:
- Secured Business Loans
- Business Loans Backed By CGTMSE
Features of Secured Loans:
Facilities offered :
- Cash Credit / Overdraft for meeting working capital finance requirement.
- Export Credit to provide Pre-Shipment & Post Shipment finance .
- Letter of Credit to facilitate trade.
- Bank Guarantees for meeting performance and financial obligations.
- Term Loan for purchase of commercial assets & business expansion needs.
Lending Exposure: Upto Rs 50.0 million for working capital and capital expenditure needs
Acceptable collaterals: Residential/Commercial/Industrial property,liquid securities
Eligible entities: Sole Proprietorship Firm,Partnership Firms,Private limited Companies,
Public limited Companies
Pre-requisites : Minimum one year business operation & audited financial.
Features of Business Loans Backed by CGTMSE:
Facilities offered
- Cash Credit for meeting working capital finance requirement
- Letter of Credit to facilitate trade.
- Bank Guarantees for performance and financial obligations
- Term Loan for purchase of commercial assets & business expansion needs
Lending Exposure: Upto Rs 10 million for meeting working capital and capital expenditure needs
Eligible entities: Sole Proprietorship Firms,Partnership Firms,Private limited Companies,Public limited Companies
Pre- requisites*:
- Audited financial statements of past two years
- Existing Track record of loans
- Investment in Plant & Machinery to be less than Rs. 50 million
DOCUMENTATION
Financial Documents
-2 years audited financial statements along with Income Tax Returns of the entity and the promoters
-Sanction letter of all existing bank loans
-Last 6 months bank statement of the entity
-Declarations for investment in plant & machinery .
KYC documents
-Identity proof and address proof of the promoters
-Constitution documents and address proof of the entity
CHARGES APPLICABLE |
Processing Fees –
Loan processing fees shall be charged based on loan amount sanctioned. Apart from the same CGTMSE charges guarantee fees of 1.50% of the sanction amount and annual service charges of 0.75% payable every year .
Interest –
Pricing shall be linked to ICICI bank’s base rate* for fund based facility-
Commission –
Shall be charged on pro rata basis based on the tenure and the amount of the non fund based facility being availed
*ICICI Bank Base rate at present is 9.50%p.a .The same is subject to change from time to time .