Download Bank of Baroda MSME Loan Application Form PDF for free from bankofbaroda.in using the direct download link given below.
Bank of Baroda MSME Loan Application Form
In Cash Credit Hypothecation of Stocks and Book debts:
- The borrower is to submit monthly Stock & Book-debt statements before the 10th of the next month in the Bank`s prescribed format.
- The borrower is to submit a certified Book debts statement by practicing C.A. or regular Auditor of the borrower, once every quarter, certifying age & amount of the book-debts, within 30 days of the close of each quarter.
- The advance will not be allowed against stocks not paid for / stocks received on conversion, rejected / defective goods returned by the purchaser and obsolete, un-saleable & old stocks.
- Drawings will be allowed as per advance value of stocks & book debts within the sanctioned limits.
- Book-Debts arising out of the sale to associate concerns will not be financed.
In case of Mortgage of Properties:
- Title Clearance Certificate to be obtained from Bank`s approved Advocate to ensure that the title of the property is clear, marketable & unencumbered and valid & enforceable mortgage can be created. Necessary charges are to be borne by the borrowers.
- The property offered as security is to be got valued by Bank’s impaneled valuer and the charges are to be borne by the borrowers.
- Collateral securities are to be valued by impaneled valuer every three years.
In the case of Term Loans:
- Payment for the items financed will be made directly to the suppliers. The borrower to submit all bills, invoices & receipts for Bank`s records.
- Cost over-run, if any, to be borne by the borrower.
You can download the Bank of Baroda MSME Loan Application Form in PDF format online from the link provided below or alternative link.