Following are the procedure steps:

1. Determine Funding Needs:

Assess your manufacturing business's financial requirements, including the purpose of the loan (e.g., expansion, equipment purchase, working capital).

2. Research Lenders:

Explore various lenders offering business loans for manufacturers in India. This may include banks, non-banking financial companies (NBFCs), government-backed lending institutions, and online lenders. Compare their loan products, interest rates, eligibility criteria, and terms and conditions.

3. Check Eligibility:

Review the eligibility criteria set by different lenders to ensure your manufacturing business meets the requirements. This typically includes factors such as business vintage, turnover, profitability, creditworthiness, and collateral.

4. Prepare Documentation:

Gather all necessary documents required for the loan application. This may include:

• Business registration documents (e.g., Certificate of Incorporation, Memorandum and Articles of Association)
• GST registration certificate
• PAN card and Aadhaar card of the business owner(s)
• Business financial statements (Profit and Loss Statement, Balance Sheet)
• Income tax returns for the past few years
• Bank statements
• Business plan outlining the purpose of the loan and expected financial projections