StartupGrants India
Bank of Maharashtra
Corporate

Bank of Maharashtra

Pune, Maharashtra, India

Bank of Maharashtra working-capital and term loans for DPIIT-recognised startups, with no collateral where the CGTMSE or CGSS guarantee covers the account.

Official website

Bank of Maharashtra at a glance

AddressLokmangal, 1501, Shivajinagar, Pune-411005
Programmes1 standing programme
Official websitebankofmaharashtra.bank.in

Programs Bank of Maharashtra supports

Programs this organisation funds, run by others. · 1 open now · 0 past

Open now

Credit Guarantee Scheme for Startups (CGSS)

under Credit Guarantee Scheme for Startups (CGSS)
by Bank of Maharashtra

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Programmes they run

Standing programmes at Bank of Maharashtra, separate from the funding calls above.

Mahabank Finance to MSME Start Ups

Loan

A Bank of Maharashtra working-capital and term loan for DPIIT-recognised startups, on the bank's own terms.

Best for: DPIIT-recognised startups that borrow from Bank of Maharashtra under a sole banking arrangement

  • Loan tenure up to 10 years
What you get, who can apply and how to apply

Bank of Maharashtra lends to startups recognised by DPIIT under this product. It covers working capital, both fund based and non-fund based, and term loans.

What you get

  • Working capital and term loans for purchase of raw materials, machinery and equipment, licences and certifications, team hiring and training, legal and consulting services, marketing and sales, and office space.
  • Loan tenure of up to 10 years.
  • A margin of 25% for working capital and term loans.
  • Collateral listed as nil where the account is covered under the CGTMSE or CGSS guarantee.

Who can apply

  • Private limited companies, registered partnerships and limited liability partnerships, or other forms accepted as a startup under the Start-up India scheme.
  • Startups registered with or recognised by DPIIT or another government department.
  • Startups that borrow under a sole banking arrangement with the bank.
  • Startups not in default to any lender and not classified as non-performing under RBI guidelines.

How selection works: Loans are assessed under the bank's own loan policy.

How to apply: Applications use the bank's loan application form and the documents the bank lists for MSME loan proposals.

Full Mahabank Finance to MSME Start Ups guide

How to apply to Bank of Maharashtra

Check eligibility first

  • The startup must be recognised by DPIIT, or by another government department.
  • The bank must be your sole banking arrangement for this loan.
  • A business formed by splitting up or rebuilding an existing business does not qualify.
  • Corporate loans are not considered under this product.

How applications work

  • Applications go through the bank's loan application form, with the documents the bank lists for MSME loan proposals.
  • Loans are assessed under the bank's own loan policy.

Collateral and margin

  • Where the account is covered under the CGTMSE or CGSS guarantee, collateral is nil.
  • The margin is 25% for working capital and term loans.

About Bank of Maharashtra

Bank of Maharashtra is a public sector bank with its head office at Lokmangal, Shivajinagar, Pune 411005. It offers a loan product for startups recognised by DPIIT, called Mahabank Finance to MSME Start Ups.

How the startup loan works

The product gives working capital and term loans to eligible startups. Loan tenure can run up to 10 years. The margin is 25% for working capital and term loans. Where the account is covered under the CGTMSE or CGSS guarantee, the bank lists collateral as nil. Otherwise the bank's own loan policy sets the collateral norms. Interest rates follow the bank's current guidelines rather than a fixed scheme rate.

Who can apply

The product is for startups recognised by DPIIT or another government department. The unit must borrow under a sole banking arrangement with the bank. A startup must not be in default to any lender and must not be classified as a non-performing asset under RBI guidelines. A business formed by splitting up or rebuilding an existing business does not count as a startup, and the bank does not consider corporate loans for startups.

Who they work with

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Frequently asked questions about Bank of Maharashtra

What is Bank of Maharashtra?

Bank of Maharashtra is a corporate based in Pune, Maharashtra.

What does Bank of Maharashtra do?

Bank of Maharashtra is a public sector bank with its head office at Lokmangal, Shivajinagar, Pune 411005. It offers a loan product for startups recognised by DPIIT, called Mahabank Finance to MSME Start Ups. The product gives working capital and term loans to eligible startups. Loan tenure can run up to 10 years.

Where is Bank of Maharashtra located?

Bank of Maharashtra is located at Lokmangal, 1501, Shivajinagar, Pune-411005.

What programs does Bank of Maharashtra run?

Bank of Maharashtra runs Mahabank Finance to MSME Start Ups.

How do I apply to Bank of Maharashtra?

- The startup must be recognised by DPIIT, or by another government department. - The bank must be your sole banking arrangement for this loan. - A business formed by splitting up or rebuilding an existing business does not qualify. - Corporate loans are not considered under this product.