FAQ For Commercial Loan

Reference: BANKOFMA/202603011804111666

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Description

FAQs on Commercial Loans 1. Who can apply for Commercial Loan? ⮚ Individuals: Self-employed professionals, single proprietors, and partnership firms ⮚ Businesses: Private limited corporations, public limited companies, and Limited Liability Partnerships (LLPs) 2. What is the average time to process MSME Loan? ➢ Bank has stipulated the time frame for disposal of MSME proposals mentioned as under: Credit Limit or Timeframe for disposal provided the Enhancement in the application complete in all respects and existing credit limit is accompanied by the documents as per checklist provided Up to Rs.25.00 lakh 2 Weeks (14 Working days) Above Rs.25.00 lakh & 6 Weeks upto Rs. 25.00 crore Above Rs.25.00 crore 8 Weeks 3. What documents need to be submitted for a Commercial Loan? ➢ List of Documents to be submitted along with the loan application form for MSME proposals are mentioned as under: Sr. No. Checklist for MSME Proposals 1. Request of the borrower / Duly filled and signed application form 2. KYC of the borrowing company / promoters / directors / guarantors: • Identity Proof: PAN / Aadhaar Card / Voter’s ID Card / Passport / Driving License / Passport. • Address Proof: Aadhaar Card / Recent telephone bills, electricity bill, property tax receipt /Passport / voter’s ID Card of Proprietor, partner of Director (if a company) 3. • Business Documents: UDYAM Registration Certificate (Mandatory for MSMEs) / CIN / GST registration / LEI / Import Export Code etc. • Memorandum and Articles of Association of the Company / Partnership Deed of partnership firms, etc. • Certificate of incorporation from RoC in case of company (CIN No. and DIN no. of directors) • Networth certificate of promoters and guarantors along with latest income tax returns. 4. Board resolution for certifying borrowing powers in case of Company Restricted 5. Latest CA certified networth with valid UDIN number for all the borrowers/guarantors 6. Duly verified GST returns from GST website for last completed year

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Tender Details

• Published 01 Mar 2026
• Closing N/A