MSME Loans from Bandhan Bank
A summary of Bandhan Bank MSME loans
Kolkata-based Bandhan Bank started as a not-for-profit enterprise in 2001 and specialised in providing micro loans to the underserved sections of the society. It was approved as a universal bank in 2015 from RBI. This fast-growing private sector bank is now the 8th largest bank in India by market capital. It has over 500 branches in all parts of the country. Bandhan Bank specialises in a wide range of banking and financial services.
The bank offers different MSME loans to its customers. Let’s take a look at 4 mentioned on their website.
Term Loan
Businesses in the MSME sector can apply for the Bandhan Bank Term Loan to get funds to meet their long-term business needs such as purchase of office units, acquisition of land / property, and for upgrade of equipment and machinery. The maximum loan amount to be sanctioned to the borrower is decided by the bank after assessing the repayment capacity of the borrower.
Working Capital Loan
Small businesses that need funds to carry out their day-to-day operations can take advantage of the Bandhan Bank Working Capital Loan. They can also avail of this loan during periods of reduced business activity, off-season and while waiting for payment from the client after project completion. This is a need-based loan which means that the bank sanctions the loan based on the needs of the borrower. The maximum loan amount depends on the repayment capacity of the borrower.
Special Loan Schemes for Micro Enterprises
Bandhan Bank offers a couple of special loan schemes to micro enterprises. They are:
- Micro Enterprise Loan: Small entrepreneurs can avail this loan to meet their short-term and long-term financial needs. Borrowers who have successfully completed at least 4 cycles of the Suchana and Srishti micro loans offered by Bandhan Bank are eligible for this loan. The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 3 lakh
- Micro Bazaar Loan: Micro businesses that have a fixed place of delivering services can avail of the Bandhan Bank Micro Bazaar Loan for their working capital needs. Only the Bandhan Bank Supersaver Account holders are eligible for this loan. The maximum loan amount sanctioned by the bank under this loan is Rs. 1.5 lakh
A Final Word
Now you know that Bandhan Bank offers special loan schemes to small businesses. If you are interested in learning more about MSME loans offered by major Indian banks, please check out our MSME loans section.