Export & Import Loans

IMPORT LOANS

An import Loan is a momentary loan (with response) that empowers the client as a merchant to meet the customer‟s prompt installment commitments under a sight or usance Letter of Credit introduction or Import Documentary Collection. Under such courses of action, Bank funds the customer‟s import responsibilities by making installment against the Letter of Credit or Documentary Collection and gets installment from the client at a pre-determined date later on. Here, the credit time frame between the time that the bank gives money and the time the client reimburses the bank, ought to be adequate for the client to either fabricate products for conclusive deal or for direct deal to end purchasers.

This will enable the clients progressively money related assets to clear merchandise from the port and production, store or orchestrate last deal to the end purchaser

The provider is autonomous of the way toward raising account. They need not sign any documentation, however get installment according to the first contract terms through the Letter of Credit or Bill for Collection

As the client can repay the providers on a sight premise or when the tenor is expected, this will build the bartering intensity of the client - regularly in terms of the agreement cost.

EXPORT LOANS

An export business can be started in India by registering a Private Limited Company or LLP and obtaining the necessary tax registration like VAT / TIN Registration or Service Tax Registration. In addition to the business registration and tax registration, export businesses must also obtain Import Export Code (IEC).

Banks play an important role for an export business as all payments must be received through the Bank. Therefore, it is important to choose the right bank having Foreign Trade capabilities while opening the bank account for the export business.

With regards to entering another export market, or growing a current one, you need to ensure your residential income and financing go continuous. Through an association with cochin financial services, we can enable you to help your abroad income and construct your worldwide deals and client base, without influencing your built up tasks.

Required Documents

PROPRIETORSHIP
  • 3 years ITR .computation and Balance sheet
  • One year bank statement (S B a/c, C A a/c, O D a/c )
  • local body licenses/ GST regi, MSME, Pollution, food and safety, export and import license (submit if you have)
  • Loan sanction letter
  • Loan track (starting to till date)
  • Business profile
  • Rental agreement (shop , godown )
  • Other loan details, loan track, loan closing letter
  • Photo , Pan card ,election card , Driving License Ration card (h/w)
  • GST monthly return(april2019 to till months)
  • Two year GST. Annual return
COMPANY/ PARTNERSHIP/TRUST
  • Company memorandum and articles / Partnership deed/ trust deed
  • Registration certificate
  • pan card
  • Three years ITR ,computation and Balance sheet
  • One year bank statement (S B a/c, C A a/c, O D a/c )
  • Local body licenses/ GST regi, MSME, Pollution, food and safety, export and import licence……etc (submit if you have)
  • Business profile
  • GST Annual return (2018 march - 2019 march)
  • GST Monthly return (2019 Aril to till month)
  • Two year ITR, Computation, one year bank statement(Directors/ partners/ trust)
  • Directors: other loan details, loan track, loan closing letter
  • Photo , Pan card ,election card , Driving License (directors/ partners/ trust)
  • Loan sanction letter
  • Term loan statements(starting to till date)

Property details

  • Document of the property
  • Prior documents
  • Encumbrance certificate for last 30 years
  • Possession and non attachment certificate
  • land tax receipt
  • Building tax receipt
  • Location sketch and certificate
  • Approved Building plan and permit