Canara MSME Atithi (Mudra Can Atithi) Can Atithi
A Canara Bank Mudra loan of up to ₹10 lakh for cafes, restaurants, self-service hotels, mobile canteens, dhabas and fast food outlets, with no collateral.
Last updated on
- Status
- Open
- Run by
- Canara Bank
What you get
- Up to ₹10 lakh in the Mudra Shishu, Kishore and Tarun bands
- Term loan, short-term loan or overdraft for working capital and equipment
- No collateral. Micro units are covered under CGFMU and small units under CGTMSE, with the borrower paying the guarantee fee
- Term loans up to 5 years including moratorium
- Margin of 15% on term loans and 10% on working capital
- Processing charge at half the normal rate
Who can apply
- Open to businesses in services and tourism.
- Micro and small enterprises.
- The most on offer is ₹10 lakh.
- Individual, proprietorship or partnership firm
- Local people with experience in the trade, or who employ experienced or skilled staff
- Hotels and dhabas on national highways must be run by permanent residents of that locality
- New customers must pass KYC and due diligence
How to apply
- Fill in the NF998 MSME application at a branch
In person, nearest Canara Bank branch
In Kerala, any Canara Bank branch in Kerala
Documents to keep ready
- Identity proof with the NF998 MSME application
- Address proof for the unit and the promoters
- Licences or permissions
- Accounts for the last 3 years with income tax returns, and projections
- Guarantor details with proof of assets
- Stock statement
Where we found this
- Canara MSME Atithi (external site) Official
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.