Punjab and Maharashtra Co-Operative Bank SME Loan

Established in 1934 and the youngest bank to achieve the status of ‘scheduled bank’, the Punjab and Maharashtra Cooperative (PMC) Bank is a scheduled urban co-operative bank operating across Delhi, Goa, Madhya Pradesh, Karnataka, Gujarat and Maharashtra. Among the leading co-operative banks in India, the Punjab and Maharashtra Cooperative (PMC) bank has been lauded for its “work ethics oriented to depositors’ service”. PMC has introduced various innovative products such as Bal Bhavishya Yojana and Double Decker in addition to a special savings scheme for women.

Purpose of Punjab and Maharashtra Cooperative (PMC) Bank - Limits to SME

The purpose of SME loans is to extend credit facilities to small and micro enterprises for the smooth functioning of the units, working capital requirements (fund and non-fund), acquisition of new equipment, term loans for building construction in addition to their expansion and upgradation of units.

Eligibility criteria for availing Punjab and Maharashtra Cooperative (PMC) Bank - SME Loans

SME loans can be availed by various eligible new and existing small and micro units/enterprises across the country, subject to terms and conditions. Customers should contact the representatives of Punjab and Maharashtra Cooperative (PMC) Bank for details regarding the loan

Features and benefits of Punjab and Maharashtra Cooperative (PMC) Bank

The following are the features of Punjab and Maharashtra Cooperative (PMC) Bank

• Type of Loan: There are three options for customers, namely term loan/cash credit (fund based), Letter of Credit (non-fund) and post shipment remittances (Forex)
• Loan Amount: The loan amount extended by Punjab and Maharashtra Cooperative (PMC) Bank depends on its exposure norms. The limit will decided by the bank at its discretion
• Interest Rate: The interest rate offered by Punjab and Maharashtra Cooperative (PMC) Bank is based on ratings and linked to BPLR or Bank Prime Lending Rate
• Repayment Period: The maximum repayment period for SME loans offered by PMC bank is 84 months. The loan has to be repaid in EMIs.
• Security: Customers may have to provide their book debts, stocks, plant machinery, immovable properties or equipment as security.

Documents required for Punjab and Maharashtra Cooperative (PMC) Bank

The following documents* have to be submitted to avail of SME loans

• Filled-in application form
• Valuation fee
• Partners’ proof of identity (Telephone Bill / Ration Card/Assets & Liabilities Statement)
• Partnership Deed
• Project Report
• Panchayat Licence
• Board Resolution
• Lease Agreement (if applicable)
• Memorandum & Articles of Association
• Balance Sheet (actual, estimated and projected)
• Any other document as requested by the bank

* The aforementioned documents are indicative not exhaustive. Please contact PMC Bank officials for accurate details