Business Advantage Loan

We provide customers with:

Limits offered : Rs. 25 lacs to Rs. 5 crores
Collaterals : Funding against commercial / industrial / residential property & liquid securities.
Facilities offered : Cash Credit / Overdraft / Dropline Overdraft / Bank Guarantee / Letter of Credit / Export Credit / Cash
Management Services -
Fast processing and quick availability of loans with lesser documents.
Best suited for : Retailers / Traders / Manufacturers / Wholesalers / Distributors / Importers / Exporters / Dealers
Pre-requisites : Minimum one year business vintage & audited financials.

ICICI Bank Advantages:

Flexible Collateral norms based on your financials and property types from 30% to 200%
Fast decisioning - decentralised operations, centralised decision making.
Fast disbursement - subject to complete documentation, disbursement in 25 days
Working capital limits to support your growth plans and enhancements based on your further requirements - ranging from 25 lacs to 5 crores.
Exclusive relationship managers - who can provide you all financial services - including trade accounts & services, remittances.

Fast and Easy renewals:

E-mail, Mobile alerts. - Internet banking convenience - 8am to 8pm banking in select locations

Interest rates on loans and advances are IBAR (ICICI Bank Benchmark Advance Rate) linked. Present Interest rate is I BAR + 3% based on product offered. IBAR at the time of limit set-up will be applicable. Please refer www.icicibank.com for the latest IBAR.

Terms and conditions governing the facility will be as per the Credit Arrangement Letter issued to the borrower after sanction.

Business Advantage Loan - Loan backed by credit guarantee from CGTMSE:

Loan up to Rs. 25 lac, specially designed to fund manufacturers under the Credit Guarantee Trust Fund for Micro and Small Enterprises (CGTMSE) scheme of SIDBI (Small Industries Development Bank of India) and Ministry of Small and Medium Enterprises.

Key Features:

Loan amount of up to Rs. 25 lac*
Funding for manufacturers under the CGTMSE scheme of SIDBI and Ministry of Small and Medium Enterprises
Charge on current assets
No requirement of third-party guarantee Flexible Collateral norms based on your financials and property types from 30% to 200%

No requirement of collateral security. Available in two attractive variants

i. Cash Credit

Working capital as cash-credit facility (with charge on current assets)
Facility for a period of 12 months
Floating interest rate. Interest levied only on amount utilized.
Flexibility of paying a minimum amount every month.

ii. Business Installment Loan

Term loan with equated monthly installments (with charge on current assets / fixed assets financed through Business Installment Loan
Choice of fixed tenure for repayment (6 months to 48 months)
Loan for purchase of assets / expansion / working capital
Fixed rate of interest.Working capital as cash-credit facility (with charge on current assets)

Eligibility:

Track record of repayment of loans
Audited financial statements of past two years
Investment of less than Rs. 5 crore in plant and machinery
Funding to proprietorships, partnerships, private limited companies and public limited companies. Loan amount of up to Rs. 25 lac*

Pricing:
Maximum – IBAR + 3% p.a. IBAR at the time of limit set-up will be applicable. Please refer www.icicibank.com for the latest IBAR.
*Terms and conditions apply. All loans at sole direction of ICICI Bank Ltd.

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