Can i apply for a loan to setup a new business?
This query is : Resolved
20 September 2017
Hi, My self Bapi Karmakar, age 25, I want to set up a new manufacturing business. The investment that about Rs 30 lakhs. And I have need a loan of Rs 10-12 lakhs for a production machine. And I have only S/B a/c. Can I apply for a loan for my requirement with out maintaining any current account in bank? If yes than how?
20 September 2017
You can apply for the loan with your savings account and open current account when you start your business. Contact bankers they will help you and schemes are there to help you. IDBI can help you.
20 September 2017
Yes, Banks insist on Current account history.
20 September 2017
Alternately, you may enrol yourself for entrepreneurship development program in MSME Centre of your area and undergo training. The MSME Centre will then forward your requirement to the Bank.
However, banks still have the last say
However, banks still have the last say
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
