Mahabank Finance to MSME Start Ups
A programme by Bank of Maharashtra
A Bank of Maharashtra working-capital and term loan for DPIIT-recognised startups, on the bank's own terms.
At a glance
| Best for | DPIIT-recognised startups that borrow from Bank of Maharashtra under a sole banking arrangement |
|---|---|
| Duration | Loan tenure up to 10 years |
About Mahabank Finance to MSME Start Ups
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.