Looking for Business Loan for business expansion or working capital needs from Karnataka Bank?

Get all the information you need on the business loans for working capital or business expansion below.

Karnataka Bank KBL Mahila Udyog

This is a business loan scheme for women entrepreneurs and for businesses where at least 51% of the shareholding and controlling stake is held by women to meet credit requirements for income-generating activities. This loan can also be availed by all-women Self-Help Groups (SHG).

Features of Karnataka Bank KBL Mahila Udyog

Why this Loan?

  • The Karnataka Bank KBL Mahila Udyog is perfect for individual women entrepreneurs, firms/companies with at least 51% of the shareholding and controlling stake held by women entrepreneurs and all-women SHGs to meet their working capital, capital expenditure and other needs directly related to income-generating activities
  • The maximum loan amount offered by the bank is Rs. 2 lakh for working capital and Rs. 10 lakh for other needs

Loan Amount

  • The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 2 lakh for working capital needs and Rs. 10 lakh for the term loan

Interest

  • As of March 2020, the interest rate charged by the bank for this loan is 10.47%

Repayment

  • Term Loan: This loan must be repaid within 10 years
  • Working Capital: This loan must be repaid within 1 year

Security Needed

  • The bank asks for hypothecation of assets created with bank finance as security for this loan

Eligibility

  • Women Proprietors/Individuals
  • Partnership firms, Limited Liability Partnerships (LLPs), Public Limited Companies, Private Limited Companies where women hold at least 51% of the shareholding and controlling stake are eligible for this loan

Borrower’s Contribution to Total Cost (Margin Money)

  • The bank charges anywhere from 15% to 30% as margin 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 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

  • Karnataka Bank Website: www.karnatakabank.com
  • Headquarters: Mangalore, Karnataka
  • Call Centre Toll-Free Number: 1800 425 1444