- Proof of Identity: Aadhaar Card / Voter’s ID Card / Passport / Driving License / PAN Card /Signature identification from present bankers of proprietor, partner of director ( if a company)
- Applicant should not be a defaulter in any Bank/Financial Institution
- Proof of residence: Aadhaar Card / Recent telephone bills, electricity bill, property tax receipt/Passport/voter’s ID Card of Proprietor, partner of Director (if a company)
- Memorandum and Articles of Association of the Company / Partnership Deed of partnership firms, etc.
- Proof of Business Address
- Assets and liabilities statement of promoters and guarantors along with latest income tax returns.
- Rent Agreement (if business premises are on rent) and clearance from pollution control board if applicable.
- SSI / MSME registration / Udyog AADHAAR Memorandum, if applicable.
- Projected balance sheets for the next two years in case of working capital limits and the period of the loan in case of a term loan.
- All the properties offered as primary and collateral securities require copies of lease deeds/title deeds.
- Certificate of incorporation from RoC in case of a company (CIN No. and DIN no. of directors)
- Bank Account details wherever applicable (with details of outstanding in case of existing loans /limits)
- GSTN No., if applicable.
- Credit Rating details and report, if available
- ZED rating, if available.
Check list for MSME loans with exposure above 25 lahks.
- Profile of the unit (includes names of promoters, other directors in the company, the activity being undertaken addresses of all offices and plants, shareholding pattern, etc.
- Last three years’ balance sheets of the Associate / Group Companies (if any).
- Project report (for the proposed project if term funding is required) containing details of the machinery to be acquired, from whom to be acquired, price, names of suppliers, financial details like capacity of machines, the capacity of utilization assumed, production, sales, projected profit and loss and balance sheets for the tenor of the loan, the details of labour, staff to be hired, the basis of assumption of such financial details, etc.
- Manufacturing process if applicable, the major profile of executives in the company, any tie-ups, details about raw material used and their suppliers, details about the buyers, details about major competitors and the company’s strengths and weaknesses as compared to their competitors, etc. The checklist serves as an indication and is not exhaustive. Depending on the local requirements in various places, you can make additions as necessary.
In the above list, a Business plan also known as a project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. Also, a well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. All public and private sector banks working in India accept our reports. Click to create your project report.
