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:

1. Secured Business Loans
2. 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

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 .