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I want to apply for Business Loan in Lakshmi Vilas Bank so can you please provide me the details of the loan?

[Vishal Kotkar]

The Lakshmi Vilas Bank offers Lakshmi Business Credit, is a convenient loan scheme designed for the trading community for quick and hassle free loans to meet their financial needs.

Lakshmi Business Credit can be availedby all kinds of traders such as Department stores, Wholesalers, Retailers, Distributors, Jewelers and Grocery Merchants etc.

Lakshmi Business Credit

Type Of Facility (Or) Purpose

For all working capital requirements (i.e. build-up of stocks, book debts & other current assets such as advances to payment made to suppliers, farmers, goods-in-transit, etc.,)

Either Secured Overdraft (OR) Demand Loan repayable in 36 / 24 EMIs max. (OR) both, depending upon nature of business

Unique Nature

Very simplified and attractive scheme norms for hassle free off-take and regular operations both under running facility and demand loan

Eligibility-

Well established business enterprise engaged in trading, manufacturing or services sector activity and also Commission Agents as the business unit should have been in existence preferably for 2 years but at least for one year and should be earning Net Profit after depreciation, taxes, etc.

The business enterprise may be in the form of individual, HUF, Proprietorship, Partnership firm (both registered & unregistered), Private and Public Limited Companies and other legally permissible entities

Assessment-

For manufacturing unit, 35% of previous year’s actual turnover or 4 times of capital, whichever is lower, subject to the condition that limit should be collateralized to the extent of 100% (125% in the case of credit limits above Rs.200 lakhs)

For Trading Units or any other type of units like service sector, etc., 25% of the previous year’s actual turnover or 4 times of capital, whichever is lower, subject to 100% collateral coverage (125 % in the case of credit limits above Rs.200 lakhs)

Contact-

Corporate Office

The Lakshmi Vilas Bank Ltd.
Corporate Office
LVB House,4/1,Sardar Patel Road,
guindy,Chennai - 600032
Tamil Nadu, INDIA
Toll Free : 1800-425-2233
Email : CallCenter@lvbank.in