HSBC Business Credit Loan

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All About HSBC Business Credit Loan

HSBC Business Credit Loan

 

Apply for Business Loan

HSBC Business Credit LoanHSBC understands the expanding and growing needs of your business. HSBC Business Credit, a unique lending facility for Small and Medium scale businesses with minimum security to be provided.

 

HSBC Business Credit Loan Features

  1. Business Credit Loan Amount: Business Credit is available up to Rs. 35 lakh.
  2. Rate of interest: Business loan works similarly like an overdraft facility and is available like a limit on your current account. Interest rate is charged only on the amount utilized.
  3. Re-payment: The minimum amount due every month is 5% of the outstanding balance. This can be withdrawn in the next month after deduction of interest.
  4. Documentation: One time easy submission of the documents is required under Business loan
 

HSBC Business Credit Loan Eligibility

1. Business Credit is offered to the following type of concerns

  1. Sole Proprietorships

  2. Partnerships

  3. Private Limited Companies

2. Income requirements

  1. For Loan amount upto 15 lakh: Rs. 150,000 p.a.
  2. For Loan amount above Rs. 15 lakhs and upto Rs. 35 lakhs : Rs.300,000 p.a.

3. Age of the guarantor (wherever personal guarantee is applicable)

  1. Minimum age: 21 years
  2. Maximum age: 65 years at the time of loan maturity
HSBC Business Credit Loan Documents

 

Sole Proprietorship

Documents
Identity proof Copy of sales tax / VAT /Service tax / Excise registration or Registration under Shops and Establishment Act orPAN ID / IT return of the concern orWater / Electricity / Municipal tax bill in the name of the concern orMAPIN card in the name of the concern
Proof of individual identityPassport or Voter’s identity card or Photo PAN card or Driving license or MAPIN card
Proof of residencePassport or Voter’s identity card or Driving license orRation card or Society outgoing bill orLife Insurance Policy or Electricity bill orTelephone bill (land / mobile)
PAN ID / PAN allotment letter / Form 60 of the concern
Financial Documents Profit & Loss and balance sheet for last 2 years audited by a C.A. and copies of IT returns for the last 2 years andBank statements for last 6 months for Business Credit upto Rs. 15 Lakh and last 12 months for Business Credit above Rs. 15 Lakh

Partnership Companies

Documents
Proof of identitSales tax / VAT /Service tax / Excise registration OR Registration under Shops and Establishment Act orPAN ID / IT return of the concern or Water / Electricity / Municipal tax bill in the name of the concern orMAPIN card in the name of the concern
Proof of individualPassport orVoter’s identity card orPhoto PAN card orDriving license orMAPIN card
Residence proofPassport orVoter’s identity card orDriving license orRation card orSociety outgoing bill orLife Insurance Policy or Electricity bill or Telephone bill (land / mobile)
Partnership Deed
Copy of PAN card or PAN allotment letter or Form 60 of the concern person
DocumentsProfit & Loss and balance sheet for last 2 years audited by a C.A. and copies of IT returns for the last 2 years andBank statements for last 6 months for Business Credit upto Rs. 15 Lakh and last 12 months for Business Credit above Rs. 15 Lakh

Private Limited Companies

Documents
Proof of identitySales tax / VAT /Service tax / Excise registration orRegistration under Shops and Establishment Act orPAN ID / IT return of the concern orWater / Electricity / Municipal tax bill in the name of the concern orMAPIN card in the name of the concern
Memorandum and Articles of AssociationCertificate of Incorporation
Board resolutionCopy of the Annual Return establishing the shareholding pattern.
Individual identity proofPassport orVoter’s identity card or Photo PAN card or Driving license or MAPIN card
List of all concern Directors
Copy of Form 32 filled with ROC
PAN card or PAN allotment letter or Form 60 of the concern person
Documents Profit & Loss and balance sheet for last 2 years audited by a C.A and copies of IT returns for the last 2 years and Bank statements for last 6 months for Business Credit upto Rs.15 Lakh and 12 months for Business Credit above Rs. 15 Lakh

Leading Business Loan Providers (Click to Apply)

  1. Bank of Baroda
  2. Barclays Bank
  3. Canara Bank
  4. HSBC
  5. ICICI Bank
  6. ING Vysya Bank
  7. Citibank
  8. Kotak Mahindra Bank

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