Axis Bank Business Loan

Note: The facts and figures provided above are illustrative and subject to periodic change

Eligibility of any loan is determined by the below factors:

• Total Income of the business and other income of the business
• Age of the applicant
• Details of the assets and liabilities
• Qualification and professional qualification
• Value of the collateral
• Dependants of the applicants
• Current bank balances and other savings details of the applicants

• Last 2 years ITR (Income Tax Return)
• KYC Documents (Driving Licence, Voters’ Identity Card, Aadhar Card, Passport)
• PAN Card / Form 60 for all applicant / Co-applicant / Guarantor
• Audit Report

Additional Documents Required:

• Proof of the business establishment, which can be obtained by Shop and Business establishment certificate / GST Certificate / Service Tax Certificate
• Acknowledged Income Tax returns, along with duly signed certified copies of the profit and loss account, as well as balance sheet.
• If there are any existing loans outstanding for the business, the loan sanction letter and bank statement will also have to be provided to check the repayment track record.
• Project report or profile of the business will also have to be provided on the company letterhead.
• Copies of Government issued identity and address documents as per current KYC norms. Along with documentary evidences, cheque for processing fee.

At times even after careful planning and financial management, there may be unforeseen and unexpected financial commitments that come up. This might put the entire business at risk by putting unexpected strain on the available business resources. Axis Bank business loan eases all these risks and pitches in to help the business in various ways.

1. Working Capital Finance: For seamless operation of the business, finances should be readily available at all levels of business decision-making and execution, there are some fund-based facilities like cash credit & overdraft facilities that can cover the short term needs of the business like purchase of raw materials and finished goods as well as meeting any and all recurring business expenses.
2. Trade Finance (Bill Discounting): Invoice or Bill discounting is the short term working capital finance for the seller of the goods on credit. Even when the buyer is within the country or outside the country, payment terms can be long and hard to manage. In such cases, the process of bill discounting can help out to a great extent. A business loan helps sellers recover the invoiced amount from the financial intermediaries before the invoiced date charged against the service, which ensures business liquidity is available.

Also Read: Bill Discounting: Process, Features, Benefits

1. Export Finance: This is a specific and customized facility offered to export establishments in order to meet the cash flow of the business. This financing option is offered in either local or the respective country’s currency for the pre & post shipment finance of international trade. This Axis Bank business loan is tailored to suit the financial demands of companies so that they can easily expand their business overseas. The basic criteria of funding, apart from the business performance is the quality of the debtor rather than credit worthiness of the country and the level of the economy.
2. Lease Rental Discounting: If the business has owned the property and rented the property out, future rent earning from this property can be used to finance the short term business expenditures. Lease rental discounting is a term loan offered against future expected rental receipts derived from lease contracts.
3. Term Loans: Apart from the regular expenditure, term loan facility is available for capital expenditure, acquisition of fixed assets as well as research and development costs and upgrade activities. Term loans usually feature tenure between one and ten years. In some cases, it can extend over a longer time period.
4. Construction Finance:  Real estate industry is booming and has as huge scope for further development. This industry needs a constant stream of capital till the handover stage. Prior to handover there is little or no inflow of cash in case of construction projects. For such businesses, Axis Bank offers long term loans which have a minimum tenure of 5 years.
5. Project Finance: Project finance loans are obtained mainly for long term projects of infrastructure and industrial projects. These are financed on the basis of the projected cash flow of the organization. Start-ups often require additional capital for ambitious projects that are either new or include those related to expansion, diversification, modernization, etc.

Apart from the regular and conventional financing, there are fast track products which are introduced by the Axis Bank from time to time. These are designed to provide swift credit delivery to the individual which is subjected to the fulfilment of the eligibility criteria for these unique loan products.

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