ICICI Business Loan
ICICI Business Loan
ICICI bank is a major bank private sector bank in India. It offers various lending products to business for their various business needs. In this article, we would look into various ICICI Business Loan products that are offered by the bank.
Working capital Loan – ICICI Bank offers various working capital loans for your working capital requirements. Working capital loan includes Export Credit, Overdraft facility, Bank Guarantees and other products.
Term Loan – ICICI loan offers various term loan for expansion of your business. Term loan is offered with flexible tenure and assessment is based on future cash flows. Tenure for ICICI Term loan is upto 7 years and loan upto Rs 7 Crores is offered by ICICI.
GST Business Loan – ICICI bank offers business loan the basis of GST returns filed by a business. ICICI GST business loan is offered in the form of a overdraft facility. Loan upto Rs 1 Crores can be offered in paperless journey format with no requirement to visit the ICICI Bank branch. This overdraft is offered on the basis of self occupied residential/commercial property. If you want to get a ICICI GST business loan greater than Rs 1 Crores then you would be needed to visit your nearest ICICI bank branch.
ICICI Insta OD – ICICI offers an Insta Overdraft facility up to Rs 15 lakhs in a complete paperless fashion without any collateral or guarantee.
ICICI loan for new business – ICICI bank offers business loan for new entities with vintage of at least 1 year. However, this loan would require an additional collateral in the form of self occupied residential or commercial property. iCICI loan to new entities can be offered to following entities-
- Sole Proprietorship Firms
- Partnership Firms
- Private Limited Companies
- Public Limited Companies
Interest loan is charged on the basis of risk and income assessment of the business
ICICI Loan without financials – This loan is offered to MSME business with vintage of at least 3 years. There is no requirement for audited financials to avail this loan from ICICI. Only Sole Proprietorship Firms, Partnership or Private limited companies having a current account with us or with another bank for 2 years or above are eligible for a business loan for new entities. You can apply for loan from ICICI from this link.
ICICI loan is one of the most sough after loan by business across India. However, if you are interested in getting a business loan from HDFC or SBI then you can visit our following articles-
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