How to avail Bank Loan
How to avail Bank Loan?
Parameters To Be Consider Before Availing of Bank Loan
How to avail bank loan- As you know the fund requirements are too high to start any business at good level. It is very important to track the sources from where we get the fund for our business to start.
There are many sources of fund for the business in which bank finance is the most important source as all the businesses should get major funding from the bank source.
As well for the warehouse businesses, agro businesses, cotton factories and all type of business can request the bank for loan for their business fund requirement.
The bank provide the loan to the business or new starter by measuring the many grounds in order to satisfy with the financial position of the borrower. There are many aspects to be consider before availing the loan.
As the bank has presecretory all the valid documents, net worth of the borrower, future aspects of the business for which loan to be taken. After the satisfactory level on part of the banker, they will provide the loan with their term and conditions.
The general parameters to be consider before availing the bank loan as:
1. Financial Position of the borrower- The bank firstly check the financial position of the borrower and demand the assets/ liabilities details certified by the Chartered Accountant.
2. Purpose of Loan to be taken- The bank will consider the purpose for which the loan to be taken, the future aspects of the business and will call for the projected balance sheet of the new business.
3. Project details- The total financing required in the project and the ratio availed by the bank as the detailed project report which depict their margin money and bank financing and financial position of the business to repay the loan principle as well as interest amount.
4. Project costing estimate by Architect- The total cost consider in the detailed project report should be verified by the architect to be more reliable for the bank.
5. Title ownership in land- The bank will consider the actual entitlement in the location of the business either through sale or lease to safeguard from the future dispute on the business location and to ensure the security against the loan taken.
6. All statutory Compliances- The business should obtain all the statutory approvals to setup the business as MSME registration, GST registration, CLU permission or NOC from District town planner (DTP) whichever is applicable to the business.
7. Business Plan- The bank will demand for the site map where the proposed business to be done to track the location of the business, value of the land and to evaluate the scale of the business.
As these are the major points to be consider before availing the loan from the bank and we need to verify all the documents to eliminate the further delay in sanctioning of loan.
Financial Assistance/Subsidy/Benefits Available:
How to avail Bank Loan- Subsidy available on the interest of bank Loan under Agriculture Infrastructure Fund:
Beside these, there is great opportunity for the business to get the interest subvention of 3% on the interest of bank loan for the period of 7 years under the scheme of Agriculture Infrastructure Fund (AIF).
The Central Government has come up with the scheme as Agriculture Infrastructure Fund Scheme (AIF) to provide the interest subsidy of 3% on the interest of bank loan availed to the maximum amount of Rs 2 Crore of loan for the next 7 years.
To get the information regarding the subsidy available for your business, we will help you out by providing the Subsidy Viability Report (SVR)
As per your business model which help you to get the maximum benefits availed under the schemes available at state and central level.
So, if you are going to setup the business, you must consider these points which help in availing the loan from bank.
We at KIP Launched the Warehouse Business & Subsidy Updates Plan for the investors/ businessman, who are interested or doing warehouse business.
We at KIP providing WAREHOUSE BUSINESS Services Since 2008.
To know more– https://kipfinancial.com/warehouse-business/
For joining– https://rzp.io/l/warehousebusinesssubsidy
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