For SMEs, Sole Proprietor, Partnership Firm (registered), Private Limited Company, Limited Company
For Starting a New Business: Age: Minimum 30 years at the time of application, however age should not to exceed 60 years at maturity of loan
For an Existing Business: Age: Minimum 30 years at the time of application however age should not to exceed 65 years at maturity of loan.
For an Existing Business: Operating History: Minimum 3 years operating history of business. Bank Statements: Minimum 01 year bank account statement with AKBL Or Minimum 02 years bank statement with any other bank
Financing Scope & Purpose
Purchase of Land
Purchase / Construction / Renovation of Building
Required Documentation Checklist
Loan Application Form for SE/ME.
Photocopy of the Computerized National Identity Card of Borrowers / Partners / Directors.
In case of new business, detailed feasibility report along with professional educational certificate needs to be provided.
In case of existing business, latest financials (preferably last 03 years).
Projected Cash Flows matching with tenor of facility for existing business.
Income estimation report for new business and SE business.
Bank Statement.
In case of Sole Proprietorship (Additionally): Copy of NTN Certificate.
In case of Partnership (Additionally):
Copy of Partnership Deed / Register Partnership Deed
Partnership Mandate for authorized signature or any other directions.
In case of Private limited company / Limited company (Additionally):
Certificate of incorporation
Memorandum and Articles of Association
Latest Financial Statements / In house financials (Last 3 Years)
Form 29
Form A
Board Resolution to avail financing and authorizing person(s) for signatures on bank documents.
Other Documents:
Initial Legal Opinion
Fresh Evaluation Report / BOQ
Property Documents required:
Copy of title document (Sale deed / Allotment Letter)
Copy of approved Building Plan
Copy of Agreement between Seller & Buyer (In case of purchase of property)
Completion Certificate (in case of AIF-1, AIF-3 & AIF-4).
Possession Certificate.
Electricity / Gas meter should be commercial nature installed on commercial / Business / Industrial Premises
Evidence of property being "Commercial / Industrial nature" to be confirmed from any of the following sources:
Title document and Evaluation Report. Other than these any other documents may required by Askari bank
Collateral & Security Requirements
Effective Mortgage (Equitable / or token registered) to be created on same urban Commercial / Industrial property which has been financed.
03 post dated cheques of the full loan amount plus markup
Personal Guarantees from borrowers, all partners and directors of the companies along with "Personal Net worth Statement".
Fard based property to be registered equivalent to the full loan amount.
Any other eligible security collateral as per Askari Bank Policy.