V Restaurant

                                          V-RESTAURANT

1

Purpose

  • Acquiring premises & renovation/modernization of existing premises and interior decoration, Furnishing of leased premises.
  • Purchase of Kitchen equipment/Furniture & fixtures.

2

Eligibility

 

  • Individuals /Sole Proprietorship/Partnership and Company (Private/Public Ltd) or any other such business entity.

3

Nature of facility

Working Capital & Term loan

4

Quantum of Loan minimum/maximum.

  • Term loan          –Maximum Rs.300.00 lakhs
  • Working Capital – Maximum  Rs.20.00 lakhs (Both put together max. of Rs.300 lakhs.)

5

Margin

  • 25% for Kitchen equipment/Furniture & fixtures.
  • 35% forpurchase/construction/expansion/renovation/modernization of premises and interior decoration.

6

Rate of interest

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7

Guarantor

Personal guarantee of partners/directors/collateral security owners etc

8

Security

Primary Security:

  • Hypothecation of assets acquired out of Bank finance.
  • Mortgage of the property in case of acquiring/construction of premises, expansion or renovation of existing premises out of Bank finance.
  • collateral security by way of immovable property including the property proposed to be acquired or liquid securities such as deposits, NSCs, surrender value of LIC policies equivalent to 100% of the total exposure, if not covered under CGTMSE for loans up to Rs.200 lakhs.
  • collateral security by way of immovable property including the property proposed to be acquired or liquid securities such as deposits, NSCs, surrender value of LIC policies equivalent to 100% of the total exposure, for loans above Rs.200 lacs.

9

Processing fees/other charges

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10

Repayment

  • Working capital – one year (should be renewed on yearly basis).
  • Term loan – Maximum of 84 months.

11

Application with checklist

 

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