Packing Credit Limit
Packing Credit Limit
Packing credit is similar to pre-shipment credit in that it is used by exporters to fund the purchase of raw materials, processing, working capital, and the expansion of their firm. You can get a loan against raw material stock and ready-to-ship materials.
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Packing credit limit Eligibility Criteria
Eligibility criteria are based on a variety of characteristics such as payback history, business sales/turnover, and creditworthiness, among others.
- Mid-sized and large corporations
- Only exporting businesses are eligible.
- The minimum corporate turnover should be 500 crores.
- A strong credit history is required.
Documents Required
Individual
- Two Photographs
- Pan Card Copy
- Aadhar Card + Passport
- Address Proof If Rented Also Required Permanent Address Proof
- Last 3 Years Form -16, ITR With Computation Of Income If File
- Last 1 Year Bank Statement - Salary Account
- Loan Schedule & Sanction Letter (If Running)
- Complete Property Papers With Chain & Map +Ats
- Processing Fee Cheque In Favour Of the Bank
- Last 3 Months’ Salary Slip + Appointment Letter
Prop Firm
- Photograph Both
- Pan Card Clear Copy Proprietor
- Address Proof (Pass Port, Voter Id Card) Proprietor
- Office Address Proof Latest (Electricity Bill, Telephone Bill)
- Firm Registration Certificates & GST Registration Copy
- Last 1 Year GST Return Copy
- Firm 3 Years ITR Computation, Profit Loss A/C, Balance-Sheet, Tax Audit Report, All Scheduled & Annexure
- Provisional Financial Ay 2023-24
- Bank Accounts (Current Account, Cc Account, Od Account Last 1 Year Updated)
- 6 Month Saving Account Statement Updated (Proprietor)
- If Running Any Loan Please Provide a Sanction Letter And Repayment Scheduled
- Agreement To Sell Copy
- Property Papers With Chain Sanction Map
Partnership Firm LLP
- Photograph Partners
- Pan Card - Company, All Partners
- Address Proof - All Partners (Pass Port, Voter I Pan Card, Adhaar)
- Firm Address Proof- Latest Any Utility Bill
- Partnership Deed Copy
- GST Certificate
- GST Return Last 1 Year
- 3 Year Company ITR Coi P/L A/C Balance sheet + Audit Report 3cb 3cd, All Annexures, Scheduled With C.A. Certified
- Provisional Financial Ay 2023-24
- 3 Years all Partner Individuals ITR + Computation
- Firm All A/C Bank Statement 1 Year Updated
- All Partner Saving A/C Statement 6 Month
- If Running Any Loan – Latest Sanction Letter + Track Records Or Repayment Scheduled
- Agreement To Sell Copy
- Property Papers Complete Chain With Map
PVT LTD
- All Director’s Photograph
- Clear Pan Card - Company And All Directors
- Address Proof – Company And Directors
- List Of Director& Share Holder With Ca Certified As On Date
- Memorandum Order In Hand And Complete Copy (If Applicable)
- GST, Sale, Vat, And Ssi Registration Certificate
- 1 Year GST Returns
- All Directors Individuals ITR & Computation Last 3 Years
- Last 3 Years Complete Financial With Tax Audit Report And Annexure
- Provisional Financial Fy 2023-24 Or Month Wise Sale Figure Last 1 Year
- Company All Bank Account Statement 1 Year Updated
- All Directors Saving A/C Statement 6 Month
- If Running Any Loan – The latest Sanction Letter And Repayment Scheduled
- Agreement To Sell Copy
- Property Papers Complete Chain With Sanction Map
1. What is the Packing Credit Limit?
Packing Credit is a loan given by a bank to an exporter to finance the purchase, processing, manufacture, or packing of products before shipment.
2. How can I obtain funds for Packing Credit Limit?
You can obtain a Packing Credit Limit from either the private or public sector.
3. When do I have to pay back the Packing Credit Limit fund?
You must return Packing Credit Limit I within 6 months.
