Kotak Mahindra Bank recognises the diverse needs of entrepreneurs and established businesses alike, offering a range of Business Loans designed to cater to these unique requirements. From small Business Loans to loans for big enterprises, Kotak covers it all.

Kotak Business Loans not only offer financial support but also empower businesses with the freedom to choose, customise, and manage their borrowing in a manner that best suits their individual growth trajectories and financial capabilities.

This blog will discuss the core features, eligibility criteria, and tangible benefits that make Kotak Business Loans a valuable resource for entrepreneurs in India.

Key Features

Collateral-Free Customisation: One of the standout characteristics of Kotak Business Loans is their collateral-free approach, which distinguishes them in the lending landscape. This feature allows businesses to secure the capital they require without the added pressure of providing assets as security. This flexibility empowers businesses, allowing them to access funds without tying up valuable assets.

Range of Loan Amounts: Kotak's loan offerings cater to the diverse needs of businesses. The range of loan amounts available, spanning from 3 Lakh to 1 Crore, underscores the bank's recognition that businesses vary significantly in size and financial requirements. This diversity enables enterprises to precisely select the capital they need, facilitating their growth endeavours without burdening themselves with unnecessary debt.

Flexible Repayment Options: In addition to the varied loan amounts, Kotak Mahindra Bank prioritises the financial well-being of businesses by offering flexible repayment options. Recognising that a one-size-fits-all approach seldom suffices in the dynamic business landscape, they allow companies to customise their repayment schedules. This tailored approach enables alignment with the unique cash flow patterns of each business, thereby reducing financial strain and ensuring a more manageable and streamlined loan servicing experience.

Government e-Marketplace Partnership

A noteworthy aspect of Kotak Mahindra Bank’s commitment to supporting businesses is its groundbreaking partnership with the Government e-Marketplace (GeM) Sahay. This collaboration opens doors for businesses to secure real-time financing against Purchase Orders, facilitating seamless procurement for government projects. The innovative nature of this partnership underscores Kotak's dedication to staying at the forefront of financial solutions.

Eligibility Criteria:

• Business Vintage: The applicant must have a business history of at least three consecutive years.
• Minimum Turnover: The business should have achieved a minimum turnover of 40 Lakh.
• Profit Generation: The business must have generated a profit for at least one year.
• Business Entities: The applicant can belong to various business entities, including Sole Proprietorships, Partnership Firms, Private Limited Companies, Trusts, or Limited Liability Partnerships (LLPs).
• Business Type: The eligible business entities should be involved in the Manufacturing, Trading, or Services sectors.
• Age Criteria: The primary applicant, representing the business, should be a minimum of 25 years old when applying for the loan and should not exceed 65 years at the time of loan maturity.

Fees and Charges of Kotak Business Loans:

Kotak Mahindra Bank believes in transparent communication when it comes to fees associated with online Business Loans.

• Processing Fees: Kotak Business Loans incur a processing fee that is a maximum of 2% of the loan or facility amount.

Documentation Charges: The documentation charges for Kotak Business Loans depend on the loan amount:

• For loan amounts less than 10 Lakhs, the documentation charge is 3500/- (Plus GST).
• For loan amounts greater than 10 Lakhs, the documentation charge is 6000/- (Plus GST).

Mandatory Documents:

Identity Proof: Original and self-attested copies of any one of the following:

• PAN Card
• Driving Licence
• Passport
• Voter's ID
• Aadhaar Card

Address Proof: Original and self-attested copies of any one of the following:

• Passport
• Driving Licence
• Voter's ID
• Aadhaar Card
• Utility Bill (no more than three months old)
• Bank Statement
• Bank Account Passbook (Updated and no more than three months old)

Ownership Proof: Original and self-attested copies of any one of the following:

• Agreement Copy
• Electricity Bill
• Maintenance Bill with share certificate
• Municipal Tax Bill
• Share certificate

Business Continuity Proof: Original and self-attested copies of any one of the following:

• Shop and Establishment Certificate
• Tax Registrations (VAT/Service Tax/GST)

Firm Constitution: Original and self-attested copies of any one of the following:

• Memorandum of Association (MOA)
• Partnership Deed
• GST Registration Certificate

Conclusion

Kotak Mahindra Bank’s Business Loans are not just financial products but enablers of dreams and ambitions. Whether you are a seasoned entrepreneur or a newcomer to the business world, the features, benefits, and transparent approach of Kotak's online Business Loans make them a reliable partner on your journey to success. With Kotak Mahindra Bank, businesses can find more than just financial support; they can find a true ally in their pursuit of growth and prosperity.

Terms and conditions apply. Credit is at sole discretion of Kotak Mahindra Bank Ltd. and is subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan asset