Small and medium enterprises are the unsung heroes of our country, employing millions and contributing immensely to the growth of India. Capital Local Area Bank offers a product to aid such small and medium enterprises, helping them focus on business without having to worry about finances. Capital Local Area Bank is the largest local area bank in India, catering to the needs of over 3 lakh people in 3 districts of Punjab. With an emphasis to bring banking facilities to rural areas, CLAB primarily caters to the marginalised sections and small borrowers, focussing on the needs of the common man.
A loan under this scheme can be used by individuals or businesses which work under the ambit of small and medium enterprises. One can use this amount to improve or expand their business, purchase additional stock, pay existing dues, create new assets/purchase inventory, etc. It can be utilised to satisfy any financial need which is encountered while running a business.
Individuals who wish to avail credit under this scheme need to satisfy the following basic eligibility criteria.
Some of the major features and benefits of Capital Local Area Bank Scheme for SME mentioned below.
Individuals who wish to avail Capital Local Area Bank Scheme for SME should submit the following documents.
The bank may ask for any other documents as per its discretion, depending on the applicant and individual circumstances.