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What is Project Report for Bank Loans?
A business needs to avail of finance from banks and financial institutions in order to start, sustain, or expand the operations. So, businesses apply for loans to secure the financial resources required for the business. Loan is a term used by the banks and other financial institutions wherein they lend out money to small businesses, MSMEs, individuals, large corporations, etc. for a wide variety of reasons pertaining to the financial needs of the business. The loans offered can be secured or unsecured with different rates of interest depending on the bank offering the loan and the business entity concerned.
For availing the bank loans, it is necessary for the business to prove its credibility to the banks or financial institutions. Supporting documents and a project report needs to be submitted to the bank for validating the authenticity of the business concern. A project report contains all the necessary pointers that would represent the business. It is basically a written and detailed representation of the business. It facilitates the process of availing bank loans. At Provenience, we prepare a comprehensive and useful project report for bank loans that will enable you to secure the bank loan.
FEATURES
Facilitates Process of Availing Loan
With the help of a project report for bank loan, it is easier for the bank officials to understand the business needs. A project report simplifies the work for the bank to understand the business goals and facilitates the process of availing bank loan.
Optimising Business Strategy
With rapidly changing market conditions, businesses often have to optimise their business strategy. A project report gives the owner a 360-degree view of the performance of the business, enabling them to improve the strategy and move the business in the right direction.
Required For Equity Investment
The project report is not just required for bank loans, it is also crucial for getting equity investment. The investors akin to bank need to understand your business inside out before making any investment. A project report for bank loans helps in providing that information to the investors and creates an opportunity to get better investment in the business.
Assessment Of The Value Of Business
A project report is a compilation of all the financial statements and reports of the business. This helps in assessing the value of the business or a particular project. A project report for a bank loan is not restricted to just availing loans but also helps in value analysis of the business.
customer stories
Bhanu has been working for Unifii for the last 1.5 years and as our accountant and Legal advisor. His knowledge and attention to detail have aided in keeping our company on track during recent times and through a major restructure. I feel confident in recommending Bhanu's and his team's professional services. He is not only thorough but also easy to work with and always willing to take the time to discuss my concerns and respond to questions.
Harneet Singh
Sydney, New South Wales, Australia
He is proactive, result oriented, and a responsible person. He is always ready to put all his energy and time to get the work done in the best possible manner. Bhanu is a well connected professional that always takes the time to support anyone is his network. I wish him all the best.
Smriti Anand
Extremely professional, time oriented and supportive are three words that goes perfectly well for Bhanu. He is my go to person for all accounting queries and requirements. I strongly recommend his professional services to all. Besides he is a great human being to know.
Sarita Chauhan
Chairman & Director Farsighters Network and Communications Pvt Ltd
I've worked closely with Bhanu. He is a very thorough and confident person. He knows his work well and tries to improvise in everything. Wish you luck Bhanu!
Harcharan Singh
Chartered Accountant UAE
Bhanu is a person to count upon, with his expertise in his domain and knowledge he brings on you can reach him with a problem any time. His appetite to listen and understand the issue makes him the man for the job. He is proactive, energetic and a resourceful guy. My best wishes to Bhanu and Provenience for future endeavour.
Ashwani Soni
Founder, Addensure Media LLP
Provenience is perfect to partner with in your startup or corporate journey. Seamless service and support provided by team is really helpful specially when you are trying to setup your venture. I would like recommend Provenience to every startup.
Amit Tyagi
Founder, Onmytap- NETWORK FOR PROFESSIONAL GROWTH
Bhanu is one of the most sincere and trustworthy person I have come across. He is extremely ethical and is completely customer focused. His hard work and dedication is commendable and with him handling the legal as well as taxation things are always in order and compliant. Keep up the good work Bhanu. Wishing you more and more success as you grow.
Kiranjeet Kaur
Co-founder, Executive - Brightsandz Clean Tech Pvt Ltd
Price
Frequently Asked Questions (FAQs)
The project report for bank loan should contain the following important pages:
-
Introductory page
- Summary of the business
- Details of promoters
- Details of employees
- The infrastructure of the business
- Customer details
- Regional operations (if any)
- Methods of financing
- Any tie-ups or fiscal acquisitions
- Balance Sheet
- Profit and loss account
- Fund flow statements
- Break-even point calculations
There are certain assumptions that are made for making the project report. They are:
- Price of raw material remains unchanged.
- The selling price of products remains unchanged.
- Working days per year.
- Shifts per day.
- No change in the government policy or rules.
- No abnormal changes in the life of the project or business.
- All the production is sold in the market.
- Manpower and other utilities are easily available.
Yes, even under the Government scheme of MUDRA loans, submission of the project report is necessary. The format of this project report for the MUDRA loan will be simple and straight forward. But, it is essential to submit the project report.
These two are quite different from each other as the project report is a projection of the general parameters of the business. It gives a thorough explanation of all the business aspects. On the other hand, CMA is a data projection that gives a detailed insight into the business performance based on multiple parameters.
The type of project report for bank loan varies depending on factors like the loan requirement, the purpose of the loan, availability of past data and the mortgage requirement. So, if the loan is for machinery finance or a start-up or MUDRA loan, then the project report format along with its calculations will change. A project report differs from one business to another, and it is customized on the basis of above-mentioned factors.