AXIS Bank Business Loan

AXIS Bank Business Loan is designed by the bank to meet the needs of the businesses. The business loan from the bank can be grouped into a number of segments each one of which differs from the other. The business loan from the bank can be broadly classified into the following categories and they are:

  • Micro and Small Enterprise(MSME)
  • Emerging Enterprise
  • SME standard.
  • Large corporates.

Micro and Small Enterprise(MSME):

Micro and Small Enterprises have also known as Micro Finance Institutions (MFIs) are classified into two sectors for easy financial structure. Lending to the MSME segment is primarily done through the SME Department and the Retail Lending (RL) Department of the Axis Bank. The interest rate charged to a customer is decided based on a) Rating b) Availability of Security/ Guarantee cover. c) PSL segment.

The appraisal process involves obtaining KYC of the applicant, evaluating the profile of the prospect, business viability, past credit history, future potential, cash flows, unit visit, end use etc. All applications for credit limit / enhancement in existing credit limit up to Rs 5.00 lacs will be disposed of within two weeks and for credit limits above Rs 5.00 lacs up to Rs 25.00 lacs within four weeks from the date of receipt, provided the application is complete in all respects.

- Manufacturing Sector 

Manufacturing sector refers to the enterprises engaged in manufacturing, processing, and preservation of goods. Enterprises are differentiated into Micro (Less than Rs.25 Lakhs), Small (Between Rs. 25 Lakh and Rs.5 Crore) and Medium (Between Rs.5 Crore and Rs.10 Crore) based on the quantum of investment they made in setting up the plant and machinery.

- Service Sector

A business engaged in providing or rendering of services. Enterprises are differentiated into Micro (Less than Rs.10 Lakhs), Small (Between Rs.10 Lakh and Rs.5 Crore) and Medium (Between Rs2 Crore and Rs.5 Crore) based on the quantum of investment they made in buying the equipment.

Looking for the Home Loan from Axis Bank, Check the link for more details: Axis Bank Home Loans

Emerging Enterprise:

AXIS Bank Business loan can be availed by the Emerging enterprises with a turnover up to 10 Crores. Axis bank offers facilities like Cash Credit and Overdraft facility with interest payable for utilized funds, Working Capital Demand Loan, Export Finance, Short Term Loan and Long Term Loan , Letter of Credit and Bank Guarantee etc.

- Axis bank offers collateral-free EMI based business loan to the emerging enterprises with the below features.

Features of Axis Bank business loans:

  • No collateral
  • Loans up to Rs.1.50cr 
  • No commitment charges
  • Competitive pricing
  • Interest on utilization

Eligibility

  • Business Vintage – Minimum 3 years
  • Turnover – Rs 30 Lakhs to Rs 10Cr
  • Age – 21 to 65 years

Documentation

  • Last 2 years ITR
  • PAN Card/ Form 60 For All Applicant/Co-applicant/Guarantor
  • Audit Report
  • KYC Documents

- Axis bank offers term loan for the purchase of machinery, property or business expansion to the emerging enterprises with the below features.

Features

  • Loans up to Rs.2 Cr
  • LTV up to 100%
  • Tenure up to 10 years
  • Competitive pricing

Eligibility

  • Business Vintage – Minimum 3 years
  • Turnover – Rs. 30 Lakhs to Rs 10 Cr

Documentation

  • Last 2 years ITR
  • PAN Card/ Form 60 For All Applicant/Co-applicant/Guarantor
  • Audit Report
  • KYC Documents

Looking for a Car Loan from Axis Bank, Check the link for more details: Axis Bank Car Loan

SME Fast track:

SME(Small and medium Enterprises) with turnover up to Rs 250 crore are offered SME Fast track segment of the AXIS Bank Business Loan under the following schemes:

  • Business Mpower Term Loan (Mpower-TL): Concentrates on the funding needs of a business for long term. The security required for this type of loan is the immovable commercial or residential property. This loan can be available by the Private Ltd. Companies and Trusts and Partnership firms. The loan amount ranges from Rs. 10 lakh to Rs. 5 crores with a term of 7 years.
  • Business Mpower Overdraft (Mpower-OD): This loan takes care of short term funding needs against immovable property as collateral.The loan amount ranges from Rs. 10 lakh to Rs. 5 crores. Commercial, Residential and Industrial immovable property as collateral coverage
  • Business Power: Business Power offers working capital facilities to existing Current Account customers of the Bank based on Current Account behavior. Loan amount ranges from Rs. 10 Lakh to Rs.2 crore and tenure are 1 year for working capital and 3 years for the term loan.
  • Business Loan for Property(BLFP): Business Loan for Property offers a convenient way to acquire an office space for business. The loan ceiling is 5 crores and offers flexible repayment option of up to 10 years.
  • Power Rent: This loan allows immediate liquidity in the hands of the landlord whose commercial property is used by a public sector business on rent. This loan includes discounting the future receivables. The loan cap is 20 crores with a term of 10 years.
  • Service Power: the loan provides working capital to the trader's segment for the requirements like Cash Credit, Export Credit, Bills discounting, Letter of Credit, Bank Guarantee or a term loan. The maximum loan granted is 5 crores and the quarterly submission of the stock statements is required. 
  • Zero Collateral Loans: to SSI Units (ZCL): Collateral free loans to facilitate Micro and Small Enterprises to avail both working capital and term finance from the Bank. The facility is secured by guarantee cover of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Loan amount ranging from Rs.5 lakh to Rs.1 crore

Large corporates:

Axis bank Business loan for the large corporates with turn over of more than Rs 250 Crores have the following services:

  • Working Capital Finance
  • Term Loans
  • Trade Services
  • Structured Finance
  • Supply Chain Management
  • Overseas Transactions 

Documents needed for Business loan:

  • Passport size 3 Photo
  • ID Proof: Voter ID card, Company Id card, Bank ID card, Driving License, Passport
  • Signature Proof: Pan Card, EB Bill, Ration card, Bank pass book, Phone Bill
  • Private limited or Partnership: Partnership details documents, Moa/AOA certificate
  • Self-employed: 3 years IT proof, Current account and saving accounts, 6-month bank statements
  • Salaried: 3 Months salary slip, salary account, 2-year bank statement, offer letter, company ID card

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