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:
• SME fast track.
• SME standard.
• Large corporates.
In this the bank provides financial assistance to the MFIs or the Microfinance Institutions. This financial assistance is forwarded in form of Term Loans. These Term loans are used for onlending to clients. Micro Finance support is available in the following states:
Andhra Pradesh, Karnataka, Tamil Nadu, Kerala, Uttar Pradesh, Gujarat, Delhi, West Bengal, Orissa, Rajasthan and North East Region.
SME Fast track:
SME Fast track segment of the AXIS Bank Business Loan provides business loans under the following schemes:
• 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 type is EMI based and the Private Ltd. Companies and Trusts and Partnership firms can avail this kind of loan. The loan amount can be high (up to 5 crores) with a term of 10 years.
• Mpower-OD: This loan takes care of short term funding needs against immovable property as collateral.
• Enterprise Power: Loan amount is a maximum of 1 crore and tenure is 1 year for working capital and 3 years for term loan.
• Business Loan for Property: Almost same as Mpower-TL, this loan allows acquisition of office space. The loan ceiling is 5 crores and the term is 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.
• Equipment Power: Tenure 48 months and the maximum loan amount is 100 lacs. It is given for the purchase of office, medical and construction equipment.
• Power Trade: the loan provides working capital to the traders 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 2.5 crores and the quarterly submission of the stock statements is required. Working capital has tenure of 1 year and the tern loan has tenure of 3 years.
• Zero Collateral Loans to SSI Units (ZCL): A loan maximum up to 50 lacs is provided without any collateral.
AXIS Bank Business loan can be availed by the SME with a range of services like funded, non-funded, credit etc. The major services include:
• Cash Credit
• Working Capital Demand Loan
• Export Finance
• Short Term Loan
• Term Loan
• Clean Bill Discounting
• LC Backed Bill Discounting
• Co-Acceptance of Bills
• Credit Facilities against Guarantee or Stand By Letter of Credit issued by Foreign Banks
• Letter of Credit
• Bank Guarantee
• Solvency Certificates
Axis bank Business loan for the large corporates have the following services:
• Working Capital Finance
• Term Loans
• Trade Services
• Structured Finance
• Supply Chain Management
• Overseas Transactions
• 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 year 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