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• Lakshmi Business Credit

Lakshmi Business Credit (LBC)

• Overview
• Salient Features
• Eligibility
• Documentation
• Loan Quantum

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Overview

To offer working capital to business entities at easy rates

Features

• Operative Account with fixed overdraft limit
• Renewable after one year
• No need to submit monthly stock statements & maintaining DP

Eligibility

• Business enterprises engaged in trading, manufacturing or services sector activity- Individuals, Proprietorships, Partnerships, Private Limited Companies and Public Limited Companies, HUFs and any other legally permissible entities.
• Partnership Firm where HUF also one of the partner is excluded.
• The business enterprise should have been in existence for 3 years with minimum two audited financials declaring the net profit.
• GST Returns are compulsory.

Documentation

• a) KYC documents of the applicant, Promoters & Guarantors
• b) Audited Financials for the past two completed years
• c) GST Returns
• d) Estimated & Projected Financial Statements
• e) All Registrations/Approvals of the business entity
• f) Collateral property documents
• g) Any other documents as per the requirement

Loan Quantum

• Minimum: Rs. 25 lacs
• Maximum: Rs.5 crore (subject to eligibility)

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