MSME Loan Application Form - Summary
MSME Loan Application: Complete Guide and Checklist
If you are eager to apply for an MSME loan, filling out the MSME loan application form correctly is crucial. This application form is your key to getting an MSME loan of up to Rs. 10 crore. Below is a detailed checklist to help you ensure you have everything ready for a seamless application process.
MSME Loans up to Rs.10 crore – CHECKLIST
- Proof of Identity: Aadhaar Card, Voter’s ID Card, Passport, Driving License, PAN Card, or signature identification from your current bankers if you are the proprietor, partner, or director (if it’s a company).
- Proof of Residence: Aadhaar Card, recent telephone or electricity bills, property tax receipt, Passport, or Voter’s ID Card of the proprietor, partner, or director (if applicable).
- Proof of Business Address.
- The applicant must not have any loan defaults with any Bank or Financial Institution. Ensure to include the Memorandum and Articles of Association for companies or Partnership Deed for partnership firms.
- Assets and liabilities statements of promoters and guarantors, along with their latest income tax returns.
- Rent Agreement (if your business place is rented) and clearance from the Pollution Control Board if it’s necessary.
- SSI/MSME registration or Udyog AADHAAR Memorandum, if applicable. You will also need projected balance sheets for the next two years for working capital limits and throughout the loan period for term loans.
- Copies of lease deeds or title deeds of all properties provided as primary and collateral securities.
- Certificate of incorporation from RoC in case of a company, including CIN and DIN numbers for directors.
- Bank Account details wherever necessary, including information about any outstanding balances related to existing loans or limits.
- GSTN Number, if applicable.
- Credit rating details and report, if available.
- ZED rating, if available.
Additional Requirements for Cases with Exposure Above ₹25 Lakh
- Profile of the unit, which includes the names of promoters, other directors in the company, details of the activities undertaken, addresses of all offices and plants, and the shareholding pattern.
- Last three years of balance sheets of any Associate or Group Companies, if they exist.
- Project report for any proposed project if term funding is required, which must include details of the machinery to be acquired, suppliers, prices, expected production and sales, as well as projected profits, losses, and balance sheets for the loan duration.
- Manufacturing processes, key executive profiles in the company, ties with other businesses, details about raw materials and suppliers, buyer information, and analysis of major competitors’ strengths and weaknesses compared to your company.
You can easily download the MSME Loan Application form in PDF format online from the link provided below. Make sure your application is complete and accurate to increase your chances of receiving your MSME loan. Don’t forget to check out the downloadable PDF for reference! 📄