ICICI Bank Business Loan Details

• Cash credit /Overdraft for meeting working capital finance requirement.
• Export credit to provide pre-shipment and post shipment finance.
• Letter of credit to facilitate trade.
• Bank guarantees for meeting performance and financial obligations.
• Term loans for purchase of commercial assets and business expansion needs.
• Loan amount- up to Rs 50.0 million for working capital and capital expenditure needs.
• Interest rate is linked to ICICI Bank’s base rate for fund based facility.
• Low collateral requirement and lending available upto 3 times of the value of collateral.

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 .