A Summary of MSME Loans Offered by IDFC First Bank

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MSME Loans from IDFC First Bank

A summary of small business loan schemes from IDFC First Bank

IDFC First Bank was founded after the integration of IDFC and Capital First Bank. RBI granted a universal banking license to the bank in July 2015. The bank offers a wide range of banking services including consumer banking, corporate banking, private banking, investment banking and wealth management.

The bank also offers MSME loans to small businesses. Here we take a look at 4 of them.

Term Loan

IDFC First Bank offers term loan schemes to help MSME units to meet their working capital and capital expenditure needs. This loan can be availed for expenses directly related to setting up of new office units and other business-expansion related activities in addition to meeting financial needs for day-to-day operations. The loan amount sanctioned is decided by the bank on a case-to-case basis.

Working Capital Loan

Small businesses may require funds to meet their day-to-day expenses. The IDFC First Bank Working Capital Loan scheme helps them finance their everyday operations. Businesses can also avail of this loan if they need help during periods of reduced business activity or while waiting for receipt of payment after completing projects. This is a need-based loan.

Corporate-Linked Finance

Vendors and dealers in the supply chain can get financial assistance to meet their working capital and capital expenditure needs by availing the IDFC First Bank Corporate-linked Finance Scheme. The bank has a dedicated team to address its Corporate-Linked Finance customers which means that borrowers get personalised solutions.

Trade Finance

Traders or trade businesses in the MSME sector can take advantage of the Trade Finance loan scheme to pay for various business activities at the pre-shipment or post-shipment stages. IDFC First Bank extends this loan in Indian currency as well as major foreign currencies. The maximum loan amount offered by the bank depends on the needs of the borrower.

A Final Word

If you want more information about the types of small business loans offered by banks other than IDFC First Bank, then you can visit our MSME loans section. The section offers information on more small business loans and you may find a loan scheme that is suitable for your business venture.

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