When starting a business, it is fundamental to be aware of the funding options. Banks provide financial assistance subject to various criteria that an SME needs to fulfil under the RBI guidelines. Apart from attractive market related interest rates, the banks also provide fast processing and quick disbursement facilities. In this series of articles, we will bring you the bank schemes that would benefit you.
Here is what Axis Bank offers under various schemes. For details click here.
Overdraft against Property
This provides liquidity against immovable property and allows you to leverage any opportunity that comes your way against the security of residential/commercial/industrial property. The tenure of the facility is one year.
This is designed for Micro and Small Enterprises (MSE) falling under priority sector lending as per RBI definition. The product extends capital facilities and also term loan facility for capital expenditure. While offering quick Facilities include fund based in the form of Cash Credit/ Export Credit in Rupee and foreign currency/Inland Bill Discounting/term loan and non-fund based in the form of Letter of Credit/Bank Guarantee
For long-term needs
Serving long-term needs of business for expansion or other long-term needs against the security of immovable property, this offers flexible repayment options. This facility can be availed by all kind of entities viz. proprietorship, partnership concerns, companies, trust and societies.
Lease Rent Discounting
Having a rental income from commercial property leased out to reputed corporate or Public Sector Units or Banks or Insurance Companies. This product is designed to meet the bona-fide term credit needs of property owners having contracted rental inflows.
Zero Collateral Loans to SSI Units (ZCL)
This facilitates both working capital and term finance from the Bank and is secured by guarantee cover of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
An EMI based term loan can be availed by Proprietorship, Partnership concerns, and companies.