Canara Bank Business Loan - Eligibility & Documentation

Canara Bank Business Loan Eligibility Criteria:
The list of candidates suitable to apply for Canara Bank Business Loan is given below:

  • Individuals
  • Proprietorship
  • Partnership
  • Limited Companies

Canara Bank Business Loan Application Form
The loan application form varies depending upon the quantum of loan applied for under MSME. The application form is available at the nearest branch office. The executive will give the form as per the amount the candidate is applying for.
Documents Required:
Application form with a recent photograph is mandatory to be submitted along with requisite documents :


Category

Documents Required

Individuals

-Proof of Identity (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
-Address Proof (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)
-Age proof (PAN Card, Passport, any other certificate from a statutory authority)
-Proof of business existence
-Bank Statements (Bank statement / Bank -Passbook for last 6 months)
-Profit and loss statement for last 3 years
-Balance sheet for last 3 years
-Income Tax Returns for last 3 years (for self and business) duly certified by a CA

Proprietorship

-KYC Documents of promoter and co-applicants
-Shop and establishment certificate/ VAT/ Sales Tax Registration Certificate
-PAN Card
-Last 2 years financials with audit report
-Last 6 months Bank statement of all bank accounts
-Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
-Proforma invoice of machinery, in case of Plant & Machinery Loans
-Property Documents in case of Property Term Loans

Partnership Firms

-Registered partnership deed
-KYC of partners
-PAN Card of firm and partners
-Shop and establishment / VAT/ Sales Tax Registration Certificate
-Last 2 years financials with audit report
-Last 6 months Bank statement of all bank accounts
-Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
-Proforma invoice of machinery, in case of Plant & Machinery Loans
-Property Documents in case of Property Term Loans

Private and Public Companies

-Memorandum of Association(MOA) / Articles of Association(AOA)
-Latest shareholding pattern
-KYC of Directors
-PAN Card of the Company and Directors
-Last 2 years financials with audit report
-Last 6 months Bank statement of all bank accounts
-Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
-Proforma invoice of machinery, in case of Plant & Machinery Loans
-Property Documents in case of Property Term Loans
-Declaration that borrower, Company or any of its Directors have not been debarred / black listed / penalized by any Stock Exchanges / SEBI/ RBI. A Declaration that the proposed borrowing is within the limits prescribed u/s 293(1)(d) of the Companies Act, 1956.

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