MSME Loans from UCO Bank
Being one of the prominent public sector banks in India, UCO Bank offers a range of loans to different segments of its customer base. Currently, the bank offers 11 different loan options to its MSME customers to help them run their business smoothly. UCO bank also offers non-fund based assistance to MSME borrowers based on their business needs.
The MSME loans offered by UCO Bank are:
- UCO Vyapar Samridhi Loan
- UCO Trader Loan
- UCO Doctor Scheme
- UCO Udyog Bandhu Loan
- UCO Roop Sangam
- UCO Bunker Rinn Yojana
- Laghu Udyami Credit Card
- Stand-Up India Loan
- Scheme for Financing Two-Wheelers Under Mudra
- E-Rickshaw Under Mudra Scheme
- Pradhan Mantri Mudra Yojana (PMMY)
UCO Bank also offers a Subsidy Linked Scheme namely, Prime Minister Employment Generation Programme (PMEGP).
We give you a brief introduction to each of these schemes below. In addition, you have the option to click further and read in detail about each loan on a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. In case information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
UCO Bank Vyapar Samridhi Loan
This loan helps small businesses meet their capital expenditure and working capital requirements. Proprietorships, partnerships and limited companies that fit the MSE (Micro and Small Enterprises) definition are eligible for this loan.
Features of UCO Vyapar Samridhi (MSME Loan)
Why this Loan?
- This UCO Bank Vyapar Samridhi Loan is designed to provide financial assistance to all types of businesses in the MSE sector for meeting their long-term business needs. They can also use the funds from this loan to meet their working capital needs
- The maximum loan amount sanctioned under this loan is Rs. 1 crore
- This is collateral-free loan
UCO Bank Trader Loan
This loan helps traders, wholesalers, dealers and distributors in the MSME sector raise capital towards expanding their business or meeting other business needs. The maximum loan amount sanctioned under this loan is Rs. 5 crore.
Features of UCO Bank UCO Trader Loan
Why this Loan?
- The UCO Bank Trader Loan is perfect for traders in the Micro, Small and Medium Enterprise sector to get funds for business growth and expansion-related activities in addition to working capital needs by mortgaging property or acceptable security of adequate value
- The bank extends this funded-facility as a term loan, bank guarantee, overdraft, cash credit, bill discounting, etc.
- This is a secured loan
UCO Bank Doctors Loan Scheme
This loan helps medical practitioners meet their capital expenditures or working capital expenses right from setting up a clinic, nursing home, hospital and pathology labs to purchase of equipment, vehicles and ambulance. The maximum loan amount is Rs. 3 crore for this loan whether it is availed to meet the working capital needs, capital expenditure needs or vehicle purchase for business use.
Features of UCO Doctors Plus
Why this Loan?
- The UCO Star Doctors Loan is meant for medical practitioners who need to financial assistance in fulfilling their capital expenditure needs
- Qualified Medical practitioners from different branches of medicine are eligible for this loan if they have at least 3 years of experience in running the business and earning profit
- Individuals, Proprietors, LLPs, Trusts and Companies can also avail this loan if minimum 51% of stake is held by a qualified doctor or medical practitioner
UCO Bank Udyog Bandhu Loan
This loan helps businesses in the Micro and Small Enterprises (MSE) sector meet their capital expenditure and working capital requirements. Proprietorships, partnerships and limited companies that fit the MSE definition are eligible for this loan.
Features of UCO Bank Udyog Bandhu Loan
Why this Loan?
- This UCO Bank Udyog Bandhu Loan is meant for all types of businesses in the MSE sector that need financial assistance to meet their needs for purchasing equipment, machinery, etc.
- This is a need-based loan
- UCO Bank offers this loan as a term loan, cash credit facility, composite loan (working capital + capital expenditure) and bank guarantee
UCO Bank Roop Sangam Loan (MSME Loan Scheme for Women Entrepreneurs)
This loan helps women running Micro, Small and Medium Enterprise (MSME) units fulfil their working capital and capital expenditure needs. This loan scheme is one of the initiatives of UCO Bank to empower and encourage women to engage in income-generating activities.
Features of UCO Bank Roop Sangam Loan
Why this Loan?
- The UCO Bank Roop Sangam Loan is meant for small businesses in the MSME sector run by women to finance their capital requirements
- All MSME businesses in the manufacturing, service and trading sectors where the management is controlled by women and partnerships where a majority of partners are women are eligible for this loan
- The maximum loan amount sanctioned by the bank is Rs. 3 lakh for working capital needs and Rs. 10 lakh for term loan (capital expenditure needs)
UCO Bunker Rinn Yojana
This loan helps weavers running small businesses fulfil their working capital and capital expenditure needs. This loan scheme is one of the bank’s initiatives to help weavers in the rural and urban areas get access to funds to run their business smoothly.
Features of UCO Bunker Rinn Yojana
Why this Loan?
- The UCO Bank Bunker Rinn Yojana is meant for weavers in the MSME sector to help them finance their working capital and capital expenditure requirements
- The maximum loan amount sanctioned under this loan is Rs. 5 lakh
UCO Bank Laghu Udyami Credit Card Scheme
This loan helps businesses in the Micro and Small Enterprises sector meet their capital expenditure and working capital requirements. The business must have been active for the past 3 years to be eligible for this loan. The maximum amount sanctioned under this scheme is Rs. 10 lakh.
Features of UCO Laghu Udyami Credit Card Scheme
Why this Loan?
- This UCO Bank Laghu Udyami Credit Card Scheme is meant to provide financial assistance to retail traders, artisans, village industries, Small Scale Industries (SSIs), self-employed professionals and other businesses in the MSME sector to meet their working capital and capital expenditure needs
- The validity of the Laghu Udyami Credit Card (LUCC) is 3 years subject to satisfactory yearly review carried out by the bank
UCO Bank Stand-up India Loan Scheme
This loan is designed to help women and SC/ST entrepreneurs set up greenfield enterprises in India. Greenfield enterprises eligible for this loan scheme are all first time ventures of women and SC/ST beneficiaries in the manufacturing, trading and services sector. The maximum loan amount for this loan is Rs. 1 crore.
Features of Stand-Up India Loan
Why this Loan?
- The UCO Bank Stand-Up India Loan is meant for encouraging people from the SC/ST category and women entrepreneurs to set up greenfield enterprises in the manufacturing, services or trading sectors. In the case of non-individual enterprises, at least 51% of the company stakes should be held by women or people in the SC/ST category
- The maximum loan amount for the UCO Bank Stand-up India loan is Rs. 1 crore
UCO Bank Scheme for Financing e-Rickshaws Under Mudra Loan
This loan helps non-salaried individuals get funds to purchase a two-wheeler under the Mudra loan scheme. This is a need-based loan. The e-rickshaw acquired with the funds from the loan must be insured under composite insurance preferably through UCO Bank’s channel partner.
Features of UCO Bank Scheme for Financing e-Rickshaws Under Mudra Loan
Why this Loan?
- The loan is meant for non-salaried individuals to help them get funds to purchase e-rickshaws for business use
- The UCO Bank e-Rickshaw Mudra Loan for MSMEs is offered as a term loan and must be repaid within 7 years
UCO Bank Scheme for Financing Two-Wheelers Under Mudra Loan
This loan helps non-salaried individuals get funds to purchase a two-wheeler under the Mudra loan scheme. The maximum loan amount is Rs. 1 lakh.
Features of UCO Bank Scheme for Financing Two-Wheelers Under Mudra Loan
Why this Loan?
- The loan is meant for non-salaried individuals to help them get funds to purchase two-wheelers for business use. The applicant apply for this loan under the Shishu or Kishore sub-categories under the Mudra loan scheme
- The UCO Bank Two-wheeler Mudra Loan for MSMEs is offered as a term loan
UCO Bank Mudra Loan Scheme
This loan helps unfunded individuals, proprietors and partnerships running small manufacturing units, fruit and vegetable shops, food service units, repair shops, small industries, machine operators, truck operators and so on get funds for their business needs. The maximum loan amount sanctioned by UCO Bank is Rs. 10 lakh.
Features of UCO Bank Pradhan Mantri Mudra Yojana (PMMY)
Why this Loan?
- This loan is meant to help small businesses in the Non-corporate Small Business Segment get funds to meet their working capital needs
- The UCO Bank Mudra Loan for MSMEs is divided into three variants depending on the type and size of business, namely Shishu, Kishore and Tarun. The quantum of loan depends on the loan variant applicable to the business
Important Note: Even though the bank’s website has information available for few loan schemes at this time, there is a possibility that the bank may offer more 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, strategic premium, etc. may be decided on a case-to-case basis.
Interest Rate for UCO Bank Business Loans
- The interest rate for UCO Bank Loans is defined as the sum of three factors, namely: UCO Float Rate, Strategic Premium and Credit Risk Premium
- The Strategic Premium depends on various factors including the type of business, tenure of loan, etc.
- Credit Risk Premium, as the name suggests, depends on the Credit Risk Rating of the borrower
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
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
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
Reference Facts
- UCO Bank Website: www.ucobank.com and www.ucobanking.com (net banking)
- Headquarters: Kolkata, West Bengal
- Call Centre Toll-Free Number: 1800 274 0123