Askari Business Solution (ABS) has been designed to meet financial requirements of small and medium size businesses. The core objective of this product program is to provide a complete financing package with quick and convenient processing. Types of credit facilities under this product program includes RF, TF, LC & LG and Export Refinance (ERF -I & II).
| Features | Criteria | ||||||||||||||||||
| Purpose |
ABS – 1 (Running Finance) To meet working capital requirements of the business. |
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ABS – 2 (Term Finance) To finance fixed assets (excluding Plant & Machinery) i.e. civil works, commercial vehicle, solar panel, generators etc. |
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ABS – 3 (Letter of Credit) For import of raw material etc. (excluding Plant & Machinery) |
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ABS – 4 (Letter of Guarantee) For issuance of Bid Bond, Performance Guarantee, Advance Payment Guarantee etc. |
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ABS – 5 (Export Re-Finance ERF-I&II) For Export Re-Finance (Pre-Shipment & Post Shipment) |
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| Nature of Finance |
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| Max Financing Amount |
Small Enterprises: Rs. 15.00M (Max) Medium Enterprises: Rs. 25.00M (Max) |
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| Pricing / Markup rate | Competitive markup rates | ||||||||||||||||||
| Processing Charges | As per Bank SOC | ||||||||||||||||||
| TAT | 10 days | ||||||||||||||||||
| Collateral Type |
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| Criteria | Requirement |
| Applicant's legal structure | Sole Proprietor, Partnership firm (registered), Private Limited company, Limited Company |
| Age of applicant |
ABS 1, 3 & 4: Minimum 25 years and maximum 60 years at the time of application. The age can go up to 70 years along with renewal of facility, with strong succession plan having young successors as descendants, meeting initial criteria. ABS 2: Minimum 25 years and maximum 60 years at the time of application, however maximum age not to exceed 65 years at the time of maturity of loan. Any one of the partner / directors must meet above criteria. |
| Business age | Business being in operation for the last 03 years. |
| eCIB |
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| NTN Certificate | Compulsory |
| Sales | As a minimum, 50% of sales as reported in the Income Estimation Report must be routed through bank account(s). |
| Electricity Bill | Only two times late payment during the last 12 months is allowed in electricity bill of business premises. |
| Bank Account Maintenance |
Minimum 01-year bank account statement with AKBL Or Minimum 02 years bank statement with any other bank |
Any other document may be obtained in addition to the above mentioned list as per AKBL’s Credit Procedure and CAD Manual
To view the flyer of Askari Business Solution, please click here
To view the instruction guide for Applying SME Financing, please click here
To view Frequently Asked Questions related to Askari Business Solution, please click here
