Small Business Loans from IndusInd Bank
A brief introduction to different types of IndusInd Bank MSME loans
One of the first new-generation banks in India, IndusInd Bank was established in 1999. It is one of the fastest-growing private sector banks in India with over 1,500 branches and 2,500 ATMs across the country.
IndusInd Bank specialises in banking and financial services including consumer banking, corporate banking, private banking, investment banking, wealth management and insurance.
It also offers small business loans for the MSME sector. Let’s take a look at 3 of these loans.
Small businesses that are looking for business expansion can take advantage of the IndusInd Bank Term Loan scheme. Eligible activities include expenses directly related to the acquisition of land or property, setting up new office units and purchase of machinery or equipment. In short, this term loan can be availed for capacity expansion, product diversification, plant modernization, etc. The maximum loan amount sanctioned by the bank depends on the repayment capacity of the borrower.
Working Capital Loan
Some small businesses may need funds while waiting for payment from a client after project completion, during off-season or periods of reduced activity. The IndusInd Bank Working Capital Loan scheme helps them finance their everyday operations so that the business can run smoothly. This a perfect loan scheme for investment in current assets, inventory purchase, bill payments, etc. The working capital loan is a need-based scheme.
The IndusInd Bank Channel Finance scheme helps first-stage dealers engaged in the business of commodities supplied directly by manufacturers and stockists (who procure commodities from the manufacturer or import from overseas) meet their working capital needs. The maximum loan amount offered by the bank depends on the needs of the borrower.
A Final Word
If you are interested in learning about small business loans from other banks, please check our MSME loans section. We have covered MSME loans from major Indian banks and also shared some information on how to find a loan scheme that is suitable for your needs.