Looking for a small business loan for micro-enterprises from Karur Vysya Bank?

Get all the information you need on the Karur Vysya Bank KVB Micro Plus loan.

Karur Vysya Bank KVB Micro Plus

This loan scheme is designed to help micro-businesses meet their working capital, capital expenditure and other business needs. All the micro-enterprises with a minimum of one year of profitable operations are eligible for this loan.

Features of KVB Micro Plus Loan

Why this Loan?

  • The Karur Vysya Bank KVB Micro Plus loan scheme can be availed by micro businesses for all projects and activities related to running the business on a day-to-day basis
  • The maximum loan amount offered under this loan scheme is Rs. 1.5 crore
  • The bank extends this loan as a working capital loan and short-term loan

Loan Amount

  • The minimum loan amount offered under this loan scheme is Rs. 10 lakh. The maximum loan amount offered under this loan scheme is Rs. 1.5 crore

Interest

  • The applicable interest rate on Karur Vysya Bank MSME loans is defined as the sum of two factors viz. One-year Marginal Cost of Funds based Lending Rate (MCLR) and a Credit-Linked Premium where the Credit-Linked Premium is directly influenced by the Risk-Based Credit Score of the applicant. As of now, the interest rate for KVB MSME loan ranges from “MCLR + 0%” to “MCLR + 14.80%”

Repayment

  • As of now, these details are not mentioned on the bank’s website. We suggest getting in touch with the bank for more information

Security Needed

  • The bank asks for security coverage of immovable property with at least 125% aggregate exposure and liquid securities with at least 100% exposure

Borrower’s Contribution to Total Cost (Margin Money)

  • The margin money charged on this loan is not mentioned on the bank’s website. Please check with the bank for more information

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:

  • Karur Vysya Bank Website: www.kvb.co.in
  • Headquarters: Karur, Tamil Nadu
  • Call Centre Number: 1860 258 1916 (Local charges apply)