IB Contractors
Indian Bank finance for established civil, mechanical and electrical contractors, including sub-contractors, who carry out work orders for government departments, public sector units or reputed companies.
Last updated on
- Status
- Open
- Run by
- Indian Bank
What you get
- Overdraft, cash credit, term loan and bill finance, plus bank guarantees and letters of credit
- From above ₹10 lakh up to ₹10 crore per borrower, and up to ₹20 crore per group, counting all facilities together
- Can be used to buy machinery and for working capital
- Term loans repayable over up to 84 months, including the holiday period
- Margin of 10% against bank guarantees or letters of credit, 15% for bill finance and 20% on stock, book debts or equipment
Who can apply
- Businesses that are already running.
- Open to businesses in services.
- Micro, small and medium enterprises.
- The most on offer is ₹10 crore.
- At least 3 years in the contracting business with a profit in each of the last 2 years
- GST registration where it applies
- Needs an MSME registration certificate
- Open to individuals, proprietors, partnerships, LLPs and companies classed as MSMEs
How to apply
- Open the product page and choose Apply For Loan to fill in the bank's online loan enquiry form
- Or visit your nearest Indian Bank branch with your work orders and accounts
In person, nearest Indian Bank branch
In Kerala, any Indian Bank branch in Kerala, or the online loan enquiry form on the product page
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 Seen something out of date?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.