Looking for an MSME Loan that offers Post-Shipment Credit to Exporters?
You have landed at the right place. This page contains the information you will need on Canara Bank’s MSME Loan for Post-shipment Credit to Exporters
Canara Bank MSME Loan for Post-shipment Credit to Exporters
This loan helps exporters get the financial assistance they need for activities after shipping of goods till the realisation of export proceeds. This helps them continue running their business operations until the payment is made by the buyer(s). This is a need-based loan.
Features of Canara MSME Loan for Pre-shipment Credit to Exporters
Why this Loan?
- The loan is meant for exporters in the MSME sector who are looking for financial assistance for meeting their Working Capital needs after the shipment of goods
- Exporters can avail this loan if they have export orders or Letter of Credit established by the overseas buyer in their favour
Loan Amount
- This is a need-based loan and the amount varies on the exporter’s requirements
Interest
- The bank offers this loan at concessional interest rates as per RBI directives. The actual interest rate is not mentioned on the bank’s website as of February 2020
Repayment
- The repayment and moratorium for this loan is not mentioned on the bank’s website
Eligibility
- Exporters in the MSME sector in need of finance for post-shipment activities are eligible for this loan
- MSME suppliers or supporting manufacturers who do not have Export Order or Letter of Credit in their name and are exporting through merchant exporters may also apply for this loan subject to conditions as specified from time to time by Canara Bank
Other Features to Know
- The loan can be extended in Indian Rupees or other designated currencies as per guidelines
- MSME suppliers or supporting manufacturers who do not have Export Order or Letter of Credit in their name and are exporting through merchant exporters may also apply for this loan
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- A4 size copies of the aforementioned documents must be self-attested with blue ink
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- All A4 size copies of the aforementioned documents must be self-attested with blue ink
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- All A4 size copies of the aforementioned documents must be self-attested with blue ink
Reference Facts
- Canara Bank Website: www.canarabank.com, www.canaramsme.com (website for MSME) and www.canarabank.in (net banking)
- Headquarters: Bengaluru, Karnataka
- Call Centre Toll-Free Number: 1800 425 0018
- Email for MSME Loans: [email protected]