MSME Application Form for UBI Loan
MSME loans are offered to Micro, Small and Medium Enterprises (MSMEs) by financial institutions that include banks and NBFCs. MSME loans are also offered by the government with the help of various schemes which are further discussed. Mostly, these kind of loans are given to startup owners, small business owners and women entrepreneurs on a short-term basis. The duration of MSME / SME loans varies from lender to lender.
Our Prime Minister Shri Narendra Modi has started initiative for Aatma Nirbhar Bharat Abhiyan / Self Reliant Bharat 2020 Scheme. In Aatma Nirbhar Bharat Abhiyan / Self Reliant Bharat Scheme has lots of opportunities for MSME sectors.
CHECKLIST (For MSME Loan upto Rs.2.00 crore)
- Proof of Identity- Voter’s ID card/ Passport/ Driving License/ PAN card/ signature identification from present bankers of proprietor, partner or Director (if a company)
- Proof of residence – Recent telephone bills, electricity bill, property tax receipt/ passport/voter’s ID card of proprietor, partner or Director (if a company)
- Proof of business address
- Applicant should not be defaulter in any Bank / FI.
- Last three years balance sheets of the units along with income tax / GST returns etc. (Applicable for all cases from Rs. 2 lacs and above). However, for cases with fund based limit upto Rs.25 lacs, if audited balance sheets are not available, then unaudited balance sheets are also acceptable as per extant instructions of the bank.
- Memorandum and articles of association of the Company/ Partnership Deed of partners etc
- Assets and liabilities statement of promoters and guarantors along with latest income tax returns.
- Rent Agreement (if business premises on rent) and clearance from pollution control board, if applicable.
- SSI/MSME registration, if applicable.
- Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan (for all cases of Rs. 2 lacs and above).
- In case of takeover of advances, sanction letters of facilities being availed from existing bankers/ Financial Institutions along with detailed terms and conditions.
- Photocopies of lease deeds/ title deeds of all properties being offered as primary and collateral securities.
- Position of accounts from the existing bankers and confirmation about the asset being Standard with them (in case of takeover).
- Copy of GST returns, if applicable
- The Audited Balance Sheets are necessary for limit of Rs.25.00 lacs and above.
Owner of MSMEs who are seeking loan for their business can apply online or offline. Download Union Bank of India Loan for MSMEs Application Form Online for free in pdf format using link provided below or visit alternate link for more details.
