To be eligible for DBS Digital Business Loans in Mumbai, businesses must meet the following criteria:
• The business should be operational for a minimum of 3 years.
• A minimum turnover of INR 1 Cr is required.
• The business should be registered as a sole proprietorship, partnership, private limited company, or other recognized legal entity.
• Positive credit history and financial stability are crucial factors.
To ensure a smooth and quick application process, it is important to have the necessary documentation ready. The documents required for a business loan in Mumbai include:
• KYC documents of the business and its promoters
• Business registration certificates and licenses
• Audited financial statements for the last 2-3 years
• Bank account statements for the past 6 months
• Proof of business existence, such as utility bills or lease agreements
• Collateral documents (if applying for a secured loan)
Having these documents prepared in advance can expedite the loan approval process.
DBS provides a range of financing options tailored to the unique needs of businesses in Mumbai:
1. Overdraft/Cash Credit
This facility provides businesses with the flexibility to manage their cash flow by allowing them to withdraw funds beyond their account balance, up to a sanctioned limit.
2. Term Loans
Ideal for businesses looking to invest in capital expenditures, DBS Term Loans offer flexible repayment options, allowing you to finance expansion projects or purchase new equipment.
3. Packing Credit:
A Packing Credit is a short-term, pre-shipment loan provided to exporters to finance the purchase, processing, or manufacturing of goods before shipment. This loan helps exporters cover costs such as raw materials and labor, ensuring they can fulfill large export orders on time.
4. Letter of Credit:
A Letter of Credit (LC) is a financial instrument issued by a bank that guarantees a buyer's payment to a seller, provided that the seller meets specific conditions outlined in the agreement. It is commonly used in international trade to reduce the risk of non-payment.
5. Bank Guarantee:
A Bank Guarantee is a promise made by a bank to cover a debtor's obligations in case they default. It provides assurance to the creditor that the bank will fulfill the debtor's financial obligations, commonly used in securing contracts or business deals.
To cater to the diverse business needs in Mumbai, DBS Bank has several branch locations across the city. You can visit any of these branches for personalized assistance with your business loan application:
• DBS Bank - Nariman Point, Mumbai Branch
Express Towers, DBS Bank India Limited, Ground Floor, Nariman Point, Mumbai, Maharashtra 400021, India
• DBS Bank - Andheri, Mumbai Branch
Ground Floor Kanakia Wallstreet, Village Chakala, Andheri - Kurla Rd, Andheri East, Mumbai, Maharashtra 400093, India
• DBS Bank - REGIONAL OFFICE, MUMBAI
Tower, 6th floor, The Ruby, 29, Senapati Bapat Marg, Dadar West, Dadar, Mumbai, Maharashtra 400028, India
1. Speedy Approvals: Receive in-principle approval within 24 hours*.
2. Flexible Loan Options: Tailor-made solutions to meet your unique business needs.
3. Minimal Documentation: Streamlined processes reduce the paperwork burden.
4. High Loan Amounts: Access up to INR 20 Cr* with flexible collateral options.
*Terms and conditions apply
^Digital Business Loan refers to paperless customer document submission and relationship manager-assisted processing managed by DBIL