Different Types of MSME Loans Offered by ICICI Bank

MSME Loans from ICICI Bank

A quick look at a few ICICI Bank small business loan schemes

ICICI Bank, a publicl- traded wholly-owned subsidiary of Industrial Credit and Investment Corporation of India (ICICI) Limited, is usually considered as the second-largest private sector bank in the country owing to different factors such as market capitalisation and so on.

One of the Big Four [banks] in India, it offers a wide range of finance products to different segments of its customer base. MSME loans are one of them.

Here we look at 4 ICICI Bank MSME loans.

ICICI Bank Term Loan

It is designed to help MSME businesses carry out business growth and expansion related activities. This means that the borrowers acquire land or property, set up business units, purchase new equipment or carry out other business activities by availing the funds from this loan. The bank offers a flexible repayment tenure for this scheme.

ICICI Bank Working Capital Loans

A small business may need funds to carry out day-to-day business operations right from the purchase of raw materials to bill payments. The working capital loan scheme from ICICI Bank gives them the funds to meet these needs. Seasonal businesses can also benefit from working capital loan facilities offered by the bank. ICICI Bank says it assigns a dedicated relationship manager to the borrowers under this loan scheme.

ICICI Bank Easy Business Loans

Small business loan seekers can avail of this ICICI Bank Easy Business Loans to meet their short-term as well as long-term capital needs. The maximum loan amount sanctioned under this loan is Rs. 15 crore. The loan amount to be sanctioned by the bank to the borrower depends on the consolidated property collateral, cash flow and credit history of the borrower.

ICICI Bank Trade Finance

ICICI Bank helps small businesses in the trading sector get funds at pre-shipment or post-shipment stages for different business activities. Similar to other trade finance schemes, the bank offers this loan in Indian currency as well as major foreign currencies depending on the needs of the borrower. The bank also extends non-funded assistance such as a Letter of Credit and Bank Guarantee in addition to funded assistance under this loan.

A Final Word

Now you know about the different types of MSME loans offered by ICICI Bank. Please check out our MSME loans page, if you are interested in learning about other small business loans offered by major Indian banks. It may help you know all the options available to you and make a decision about which loans are more suitable for your business venture.