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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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