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- MPower
MPower
(Turnover up to ₹250 crores)
Hassle-free property backed overdraft for meeting all business needs
Apply Now Track StatusMPower
The MPower programme offers a quick and hassle-free financing solution for all business units. It provides both property-backed overdraft and term loan facilities to various businesses, including MSME units engaged in manufacturing, trading, and service activities.
The program is available to all business units, including MSME units engaged in manufacturing, trade and services activities. Limits under this program can be clubbed with any other program of commercial banking group (restricted to a combined limit of ₹10 crores.)
Features & Benefits
- Turnover – Upto ₹100 Cr.
- Limits – Up to ₹10 crores (ECLGS limits are over and above the limits specified)
- Product offerings - Loan against property, OD against property, dropline OD, property purchase
- Collateral - Residential, commercial and industrial property acceptable
Key Highlights
The program is available to all Business units including MSME units engaged in manufacturing, trade and services activities. Limits under this program can be clubbed with any other Program of Commercial Banking Group (restricted to a combined limit of ₹ 10 Cr.)
Documents Required
- KYC of borrower , Associate / Group Concern / Corporate Guarantor (if applicable) :
- PAN
- GST registration certificate/ Certificate of incorporation
- Constitutional Documents like MOA , AOA, Partnership Deed etc. (as applicable))
- KYC of key individuals (Shareholders, Directors, Signatories, Partners etc.):
- PAN
- Any one address verification document like Aadhar/Voter Card/Passport/Driving License
- Complete Set of audited financials of the borrower / Corporate guarantor / Group Entities (if applicable) for 3 years including:
- Profit and loss statement
- Balance sheet
- Schedules
- Independent auditors report
- ITR, Tax Audit Report
- Latest Provisional financials (if last audited financials are > 13 months old)
- Signed Projections
- Bank Statements of last 12 month for all operative business accounts (CA, WC)
- GST Returns for last 12 Months
- Latest sanction letter of existing bank (wherever applicable)
- Sanction Compliance Checklist
- Udyam Registration Certificate (if available)
- Duly signed SME Application Form
- Copies of title deeds, property tax paid receipts, approved plans etc.
Note: This is an indicative list and bank may ask for additional documents if required.
Purpose
- For allocation funds towards general business purposes, including repairs, renovation, extension & expansion of business, meeting working capital/shortfall in liquidity and cash flow.
- Purchase of property for general business purpose or for the occupancy of the owners/management of the borrowing unit.
