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Abtik Services

Bussiness Loan

Business Loan

Overview

Abtik Services is the first bank to partner with Government e-Marketplace (GeM) Sahay – a platform that connects sellers with lenders, offering real-time financing against Purchase Orders. GeM is an innovative end-to-end marketplace that enables open, efficient, and transparent procurement of goods and services for various Government Ministries/ Departments, Public Sector Undertakings, and other apex autonomous bodies of the Central Government, ensuring seamless public procurement on the platform.

ELIGIBILITY CRITERIA

  • The applicant has to be in business for last 3 years with a minimum turnover of Rs.40 Lakhs
  • he business must have generated profit for a minimum of 1 year
  • The applicant should be a Sole Proprietor / Partnership firm / Private Ltd Co. / Trust / LLP involved in the business of Manufacturing, Trading or Services
  • The main applicant should be minimum of 25 years of age & should be no older than 65 years at the time of loan maturity.

BENEFITS

  • Quick disbursal
  • Competitive interest rates
  • Flexible tenures

Required Document

  • Aadhaar Card
  • PAN Card
  • Bank statement of the previous 6 months
  • Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
  • Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate)
  • Other Mandatory Documents [Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)]

FAQs

The “Distressed Asset Fund - Subordinated Debt for Stressed MSMEs” is a scheme framed by Ministry of MSME under which credit facility would be provided to the Promoters of the stressed MSMEs to all the member lending Instutution(MLIs) registred under CGS-I of the Credit Gurantee Scheme for Micro and Small Enterprises

Credit Guarantee Scheme for Subordinate Debt (CGSSD) (hereinafter referred to as “Scheme”) being operated by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides guarantee coverage to Member Lending Institutions (MLIs) for the credit facility extended to the to the eligible MSMEs under the above mentioned scheme.

The objective of the scheme is to provide credit facility through lending institutions to the promoters of stressed MSMEs viz. SMA-2 and NPA accounts who are eligible for restructuring as per RBI guidelines on the books of the Lending institutions. The promoter would infuse the credit in the MSME as quasi equity or sub-debt.

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