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Q. Who is Express Trade useful for?
Express Trade is best suited for exporters, importers, manufacturers, and service providers.
Q. Which entities are eligible for loans under Express Trade?
- Sole Proprietors / Proprietorship firms
- Partnership Firms
- Pvt. Ltd. Companies (including closely held limited companies)
- Listed public limited companies with promoter holding greater than or equal to 51% holding are within target segment
Q. What are the types of facilities offered?
ET is a predominantly trade product offering wherein facilities range from:
- Export services like Pre Shipment , Post Shipment limits, Credit Bills negotiated,
- Import Services like Letters of Credit, Shipping Guarantees, Invoice Financing,
- Bank Guarantees
- Overdraft (subject to scertain limits)
Q. What is the minimum and maximum loan/ facility/ limits offered?
The minimum amount is Rs. 20 lakhs and maximum amount is Rs. 2.7 crores.
Q. What is the minimum and maximum turnover range to be eligible under Express Trade?
The turnover requirement ranges from Rs. 1 crore to Rs. 30 crores.
Q. What do I need to give as security?
Security in any of the following forms acceptable
- Fixed Deposit
- Residential / Commercial Property
- Bank Guarantee / Standby Letter of Credit
- Industrial property subject to certain conditions
Specific details would be provided by the sales officer.
Q. What are the minimum documents I need to submit for sanction?
- Audited financials of previous three years
- Bank statements of last six months
- Net worth statements and tax returns of the borrowers / promoters and guarantors
- Identity and Address Proof of the borrowers and guarantors
- VAT / Sales tax returns
Specific details would be provided by the sales officer.
Q. How soon can the loan be available?
You can expect approval or reject communication within a week from full submission of documents.
Q. What is the rate of Interest that would be charged?
The rate of interest charged would vary from case to case based on the strength of financials, facilities offered, tenor etc.
Specific details would be provided by the sales officer.
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Note: The FAQs have been prepared for general information only and are subject to change. The ultimate aim of the FAQs is to extend the availability of the information about the product in simple and readable manner and should not be construed as a comprehensive feature of the product.
