Canara Bank Business Loan

Note:

*0.50% concession applicable to women beneficiaries

#0.25% concession in case of accounts covered under Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE)

Canara MSME Gold Loan

Purpose: Canara MSME Gold Loan scheme can be availed as Overdraft or Demand Loan facility against gold ornaments/jewellery held in the name of individual/proprietor respectively, for financing various business requirements.

Loan Amount: Rs 0.50 lakh- Rs 35 lakh

Tenure: Up to 1 year

Security: Gold ornaments, specially minted gold coins sold by banks (weight not exceeding 50 grams per customer). Gold coin, bullion, etc cannot be used as collateral.

MSME CAN BEML

Purpose: MSME CAN BEML is a term loan facility for purchasing earth moving, construction, and mining equipments from BEML.

Target Group: Earth moving contractors, railway road, canal work contractors, etc. and business units other than trusts planning to avail loans for service and manufacturing activities.

Loan Amount: Rs 20 lakh to Rs 3 crore

Margin:

Tenure: 5 to 7 years

Security:

For New Customers-

For Loans covered under CGTMSE- Rs 20 lakh and up to Rs 2 crore-

For Loans not covered under CGTMSE–

In addition to primary security, minimum 75% of collateral security in the form of mortgage of immovable property/financial securities shall be obtained.

For Existing Customers–

Suitable decision regarding collateral security based on satisfactory dealings/credit history of the customer will be taken.

MUDRA Canara Atithi

Purpose: Mudra Canara Atithi credit facility can be availed to fulfil the working capital needs and term loan requirements for purchase of equipments required for setting up the businesses engaged in food and beverages sector.

Target Group:

Loan Amount: Up to Rs 10 lakh as per MUDRA variants

Margin:

Tenure:

Security:

Canara GST

Purpose: Canara GST can be availed to fulfil working capital requirements of GST registered MSME borrowers (new/existing) by way of fund based exposure

Target Group: Micro, Small and Medium Enterprises (Manufacturing/Service)

Loan Amount: Above Rs 10 lakh to Rs 10 crore

Nature of Facility:

Working Capital-

Security:

Primary Security- Primary assets created out of Bank Finance

Collateral Security- At least 75% of loan amount in the form of:

Canara Smart Professionals

Purpose: Canara Smart professionals scheme is offered to MSME professionals to purchase or construct office premises, acquire machineries, equipments, furniture, fixtures, including expansion and modernization of existing units. This scheme is also offered as need based working capital limits in the form of secured OD.

Target Group: Architects, CAs, Civil Engineers, Cost Accountant and Company Secretary

Loan Amount:

Minimum- Rs 10 lakh

Maximum-

Margin:

Tenure:

Nature of Loan Facility: Composite Loan (Term Loan and Working Capital Loan)

Processing Charges: Up to 50%

Security:

Canara Udyog

Purpose: Canara Udyog loan facility fulfils all the credit requirements of MSME borrowers in manufacturing sector and ancillary business units.

Loan Amount: Above Rs 10 lakh to Rs 10 crore

Nature of Credit Facility: Term loan and working capital (Fund-based and Non-fund based)

Margin:

Tenure:

Security:

Hypothecation: Stocks and/or book debts (not more than 90 days) acceptable to the bank

Mortgage of immovable property/approved securities whose value is not less than 125% (prime and/or collateral/approved securities) of the limit.

Vacant Land may be accepted as security, only if

Personal guarantee of partners, promoter directors and owner of the immovable property.

Agricultural land not to be taken as security

Canara Vyapar

Purpose: Canara Vyapar business loan scheme finances working capital requirements and business related term loan requirements of applicants

Loan Amount: Above Rs 10 lakh to Rs 10 crore

Tenure:

Margin:

Security:

Hypothecation: Stocks and/or book debts (not more than 90 days) acceptable to the bank Ø

Mortgage of immovable property (Commercial/Residential Property only)/approved securities whose value is not less than:

Personal guarantee of partners, promoter directors and owner of the immovable property.

Immovable property in the name of the borrowing unit, proprietors, partners, directors of the private limited company are accepted.

Immovable property in the name of Family members of proprietor/ partners directors is also accepted subject to offering their her personal guarantee

Agriculture land, vacant site, tenanted premises (other than those to PSUs, PSBs, MNCs), properties prohibited by statutory authority are not acceptable

Pradhan Mantri Mudra Yojna (PMMY)

Purpose: Pradhan mantra Mudra Yojna can be availed to meet business related term loan and working capital requirements of MSME borrowers by bringing them to formal financial system

Loan Amount:

Margin: 15%-25%

Tenure: Up to 7 years

Canara MSME CAP (Credit Against Property)

Purpose: Canara MSME CAP credit facility fulfils the business requirements of MSME borrowers, both manufacturing and services, along with self-employed, through fund and non-fund based exposures against security of land and building belonging to unit or promoters of unit or close relatives of promoters

Loan Amount:

Tenure:

Processing Charges: Up to 50%

Security:

Primary Security- Assets created out of Bank Finance

Collateral Security-

Canara MSE Vijeta

Purpose: Canara MSE Vijeta can be availed to fulfil the business requirements of women under Micro and Small Enterprises including retail traders for purchase/construction of business premises, purchase of machinery, equipments, vehicles and working capital.

Loan Amount: Above Rs 10 lakh to Rs 2 crore

Margin: 20%

Nature of Credit Facility: Term loan or working capital through overdraft facility

Tenure:

Processing Charges: Up to 75%

Security:

Laghu Udyami Credit Card (LUCC)

Purpose: Laghu Udyami Credit Card Finance facility helps to meet the working capital requirements of village industries, artisans, micro and small enterprises including tiny units

Loan Amount: Up to Rs 10 lakh

Tenure: Up to 3 years

Security:

Doctor’s Choice

Purpose: Doctor’s Choice Business Loan can be availed to meet the working capital and term loan requirements of the applicant for the following purposes:

Loan Amount:

Tenure:

Margin:

Up to Rs 25,000- NIL

Above Rs 25,000-

Processing Charges:

Upfront Fees:

Security:

Canara Caravan

Purpose: Canara Caravan finance facility can be used for purchasing new commercial vehicles (small, light, medium, heavy or passenger vehicle). For eg., trucks, tankers, trailers, luxury buses, tippers and passenger vehicles, etc.

Loan Amount: Rs 25 lakh to Rs 5 crore

Tenure: Up to 5 years

Margin:

Upfront Fee: Concession of 0.25% from the applicable rate, for proposals scored above 75%

Security:

Prime Security- Hypothecation of vehicles financed by bank

Collateral Security-

Canara Contractor Scheme

Purpose: Canara Contractor Scheme helps to fulfil the term loan and working capital requirements for purchase of brand new equipment or office premises to the existing and prospective contractors and sub-contractors

Loan Amount:

Tenure:

Processing Charges/Upfront Fee commission: 25% concession for both fund-based and non-fund based limits

Security:

Prime Security:

Collateral Security: Mortgage of immovable property by way of land and building situated in semi urban/urban/metro centres

Canara MSME Expo

Purpose: Canara MSME Expo is a term loan facility availed to purchase software/hardware for fashion designing, travelling abroad for business purposes, participation in trade fairs, exhibitions abroad or International Trade Fairs in India

Loan Amount: Up to Rs 50 lakh

Tenure: Up to 3 years with moratorium period of up to 3 months

Margin: 15% to 25%

Security: