Yes Bank Suyog Bank Loan Scheme

The Yes Bank Suyog Bank Loan Scheme is aimed at providing a complete solution for the financing necessities of SMEs engaged in manufacturing, trading and services. YES Bank is the fifth largest private sector bank in India with a growing presence and a broad range of products in personal banking, business banking and corporate banking. In this article, we look at some of the main features of the YES Bank Suyog Scheme.

Overview of YES Bank

YES Bank Limited was incorporated in November 21, 2003 and the bank was officially launched in 2004. The company was founded by Rana Kapoor with foray into retail banking with the commencement of International Gold and Silver debit card in joint venture with MasterCard International. In June 2005, YES Bank IPED and listed the shares on the stock exchanges.

YES Suyog Scheme

Under the YES Suyog Scheme, fund based cash credit, overdraft, working capital, term loan, LC, buyers credit and bank guarantee is provided to SME units. The maximum loan amount sanctioned under the scheme is Rs.2 crores. Collateral in the form of residential, commercial, industrial or non-agricultural plot or fixed deposit can be provided.

How to Apply for the YES Suyog Scheme

Application for YES Suyog Scheme can be submitted to any of the YES Bank branches on the MSME Application Form. Along with the application form, the following documents must be submitted.

Last 3 year Financial Statement including latest 2 years Audited Statements along with all schedules
Financial Projection for a period of 2 years
ITR Returns along with computation of Income at least for last 2 years of the Applicant or Co-Applicant or Guarantor
Sales Tax or VAT Returns for present Financial Year.
Statement of Accounts for Last 6 months related to all CC/OD/Current Account.
Repayment Track Statement from Commencing to Till Date or First and Latest Sanction Letter with last 6 months Repayment Track Statement
Proof of Vintage e.g. Shop establishment , Pollution license, et cetera
KYC documents of Applicant or Co-Applicant or Promoters/Guarantor
Property Documents offered as Security
Self Certified or CA certified Net worth statement of the Applicant or Co-Applicant or Promoters or Guarantor
Sanction letter of the all major accessible working capital facilities availed by the firm
Key group company's most recent Audited Financials, along with particulars of Bank borrowings, if any
Order in Hand and significant Agreement if any

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Frequently Asked Questions

Common questions about SME Financing Solutions in India.

The YES Bank Suyog Scheme is aimed at providing a comprehensive financing solution for the needs of Small and Medium Enterprises (SMEs) engaged in manufacturing, trading, and services sectors. It offers various fund-based facilities such as cash credit, overdraft, working capital, term loans, letters of credit, buyer's credit, and bank guarantees.

Under the YES Bank Suyog Scheme, the maximum loan amount that can be sanctioned is Rs. 2 crores (20 million Indian Rupees).

The YES Bank Suyog Scheme accepts various forms of collateral, including residential, commercial, industrial, or non-agricultural plots, as well as fixed deposits.

To apply for the YES Bank Suyog Scheme, applicants need to submit the MSME Application Form, along with various supporting documents, at any YES Bank branch.

Some of the key documents required for applying for the YES Bank Suyog Scheme include financial statements for the last three years, income tax returns, sales tax/VAT returns, bank statements, repayment track records, proof of business vintage, KYC documents, property documents offered as security, and net worth statements.

No, the YES Bank Suyog Scheme is not limited to manufacturing SMEs. It is designed to cater to the financing needs of SMEs engaged in various sectors, including manufacturing, trading, and services.

The financial projections required for applying for the YES Bank Suyog Scheme are used to assess the future financial performance and cash flow of the applicant's business. This helps the bank evaluate the ability of the borrower to repay the loan.

The YES Bank Suyog Scheme is primarily designed for SMEs and businesses. However, the application form and required documents may vary depending on the specific type of borrower, whether it is an individual, partnership, or company.

The KYC (Know Your Customer) documents are essential for the bank to verify the identity and background of the applicant, co-applicant, promoters, or guarantors. These documents help the bank comply with anti-money laundering regulations and ensure the legitimacy of the borrower.

Yes, the YES Bank Suyog Scheme can be utilized for both expanding an existing business or setting up a new venture in the SME sector. The loan amount and facilities provided can be used for various purposes, such as working capital, term loans, or acquiring fixed assets, depending on the specific requirements of the borrower.