Canara MSME Start-up Plus Start-up Plus
Canara Bank loans above ₹20 lakh up to ₹20 crore for DPIIT-recognised start-ups that already have customers and revenue.
Last updated on
- Cost to apply
- No processing fee for loans up to ₹1 crore
- Status
- Open
- Run by
- Canara Bank
What you get
- Working capital and term loans above ₹20 lakh up to ₹20 crore
- Covers product and app building, machinery, licences, hiring, legal costs, marketing and office space
- Term loans up to 84 months, with a normal moratorium of up to 12 months
- No collateral when fully covered under the Credit Guarantee Scheme for Start-ups, with the borrower paying the guarantee fee
- No processing fee up to ₹1 crore, half the normal fee above that
- Margin of 25%
Who can apply
- Micro, small and medium enterprises.
- The most on offer is ₹20 crore.
- Udyam registration is needed. It is free.
- Recognised as a start-up by DPIIT or another government department
- Up to 10 years from incorporation, or 20 years for deep tech, with turnover never above ₹200 crore, or ₹300 crore for deep tech
- Private limited company, registered partnership, LLP or cooperative society
- Past proof of concept, with customers and revenue
- Support from a recognised incubator, accelerator or investor
- Banks only with Canara for these facilities
- GST registration where applicable
How to apply
- Fill in the uniform start-up application form at a branch
In person, nearest Canara Bank branch
In Kerala, any Canara Bank branch in Kerala. The page says all branches can process these loans.
Documents to keep ready
- Identity proof with the uniform start-up application form
- Address proof for the unit and the promoters
- Licences, incorporation papers and DPIIT recognition
- Business plan
- Audited balance sheets for the last 3 years, for existing units
- Notarised asset and liability statements of promoters and guarantors
Where we found this
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 Seen something out of date?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.