Corporate Business Loans from Dhanlaxmi Bank
Dhanlaxmi Bank, previously known as Dhanalakshmi Bank, was founded in 1927 in Thrissur, Kerala. It has grown into a bank with over 280 branches all over the country and offers a range of business loans to different segments of its customer base. As of April 2020, the bank offers four business loans to its corporate customers.
The four business loans from Dhanlaxmi Bank are:
- Industrial Advance
- Working Capital Loan
- Trade Finance
- Micro Credit – SHGs
We give you a brief intro to these business loans below.
Dhanlaxmi Bank Industrial Advance
The loan helps businesses carry out different business activities related to projects right from acquiring land and building to purchasing machinery and vehicles or even talent acquisition.
Features of Dhanlaxmi Bank Industrial Advance
Why this Loan?
- The Dhanlaxmi Bank Industrial Advance can be availed by businesses for funding development initiatives, talent acquisition, technology procurement, etc.
- The businesses can also avail this loan to purchase land and building for business purpose
Dhanlaxmi Bank Trade Advance (Working Capital Loan)
The loan helps businesses finance their everyday operations such as for investment in current assets, purchase of raw materials, salary payments, power charges, etc. This a perfect loan scheme for businesses that need help during periods of reduced business activity or while waiting for receipt of payment after completing projects.
Features of Dhanlaxmi Bank Trade Advance
Why this Loan?
- The Dhanlaxmi Bank Working Capital Loan can be taken for all projects and activities related to running the business on a day-to-day basis
- The loan is extended in different forms based on the borrower requirements such as Cash Credit, Letter of Credit, Bill Discounting, Bank Guarantee, etc.
Dhanlaxmi Bank Import/Export Assistance
This loan helps businesses pay for pre-shipment, post-shipment, and other activities right from sourcing, manufacturing or converting semi-finished into finished goods and services to importing raw materials and capital goods. The bank also offers Foreign Bank Guarantee and Foreign Letters of Credit to help businesses dealing in export run their operations smoothly.
Features of Dhanlaxmi Bank Import/Export Assistance (Trade Finance)
Why this Loan?
- Dhanlaxmi Bank Import Export Assistance is meant for you if your business needs funds for any activity directly related to your trade business whether it is pre-shipment or post-shipment
- The bank offers this loan in Indian as well as foreign currency
Dhanlaxmi Bank Micro Credit Self-Help Groups (SHG)
The group business loan helps people in the SHGs for income generation or livelihood-related activities. The bank offers this micro-credit scheme to the underserved section of society to help them improve their living standards.
Features of Dhanlaxmi Bank Micro Credit Self-Help Groups (SHG)
Why this Loan?
- This micro-credit loan scheme is meant to help SHGs generate income and improve their standard of living
- The Dhanlaxmi Bank SHG Bank Linkage Loan scheme is specially designed for groups in the underserved section of the society
Important Note: Even though the bank’s website has information available for a few business loan schemes at this time, there is a possibility that the bank may offer more corporate loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, etc. may be decided on a case-to-case basis.
Interest Rate for Dhanlaxmi Bank Business Loans
- The interest rate for the Dhanlaxmi Bank business loans depends on various factors such as quantum of loan, type of business, risk rating, nature of project, repayment period, structure of debt, etc. As of April 2020, these details are not listed on the bank’s website. Please get in touch with the bank for more information
Eligibility for Dhanlaxmi Bank Business Loans
- Individuals, Proprietors, Partnership Firms, Private Limited and Public Limited Companies can apply for these loans
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 Issue 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
- For term loans: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
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
- For Term Loans Only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
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: 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
- For term loans only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Reference Facts:
- Dhanlaxmi Bank Website: www.dhanbank.com
- Headquarters: Thrissur, Kerala
- Call Centre Number: +91 487 6613000