Banking facilities, business overdrafts and loans
- Under this initiative, TBB facilitates Bank loans for new as well as existing companies.
- TBB’s initiative in partnership with Banks, Rating Agencies (RAs) and Accredited Consultants (ACs).
- It’s a transparent, structured mechanism for timely consideration of loan applications.
Why Is It Needed?
- To generate complete structured applications along with necessary documents as are needed by Banks for sanctioning of loans.
- Independent Validation by ACs of the information furnished by SMMEs in the loan applications provides a second check thereby enhancing the reliability of furnished information and acts as an additional comfort to the banks in handling the loan applications.
- Rating (not mandatory) of proposals by Rating Agencies, as and when required, provides an independent opinion and helps the bankers for considering applications expeditiously.
- The initiative would reduce delays and is expected to enhance flow of assistance to SMME sector.
Benefits to companies:
Bank Loan Process Made Easier
Improved Acceptance of the loan proposals by banks
How does it Work?
- TBB has empanelled Accredited Consultants (ACs) who will prepare the basic information for the SMME entrepreneurs based on the information and requirements indicated by the SMMEs. TBB will capture all information required by the Banks and the Rating Agencies, if needed
- If required, TBB may get the proposal rated by approved Rating Agencies
- TBB provides advice on Equity / Quasi- Equity for Growth Oriented existing units and Finance for Service Sector Units
- In all other cases, the application would be forwarded to the various financial institutions
- TBB, in essence, will handhold the company through all stages of loan processing
- Guide new / existing entrepreneurs regarding availability of schemes of the various financial institutions
- Inform SMMEs of Government subsidies / benefits
- Provide borrowers with debt counselling
- Prepare Basic Information Memorandum (BIM)
- Facilitate response to queries raised by banks etc
Services provided by Accredited Consultants