V SOD

V SOD

1

Purpose

  • To meet the working capital and term loan.

2

Eligibility

 

  • Existing business enterprises having satisfactory operational history/record, covering a period of at least 12 months with one year’s completed Financial Statement

3

Nature of facility

 

Working Capital

Term Loan:

4

Quantum of Loan minimum/maximum.

  • Working Capital: Maximum Rs.100.00 lakhs subject to 60% of market value of property offered as security. Out of total eligible limit Term Loan  component can be maximum of 25% with a ceiling of Rs. 25.00 lakhs for purchase of office equipment, machinery, computer, furniture etc. (purchase of land & building excluded)

5

Margin

  • No margin for working capital.
  • Term Loan Component :
  •  25% of cost of the asset/capex being financed.

6

Rate of interest

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7

Guarantor

 

  • Personal guarantee of spouse of applicant, all partners, promoter directors, all major trustees, kartha & major co-parcenors, key office bearers of societies.
  • In addition to above, personal guarantees of the owners of properties, whose property has been offered as security, shall have to be taken as additional guarantors in respect of all categories of borrowers.

8

Security

 

  • Hypothecation of stock, book debts, receivables and other movable assets being financed.
  • Mortgage of self-occupied, residential properties owned by the promoters of the entities being financed, or their close relatives. In case, the value of such residential property offered as security is considered inadequate, commercial properties - self occupied, owned by the promoters and or their close relatives may be accepted.
  • Rented/ tenanted properties are not accepted as security.

9

Processing fees/other charges

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10

Repayment

 

  • Working capital to be renewed on yearly basis.
  • Term Loan Component: to be repaid in maximum 60 months.

 

11

Application with checklist

 

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Click Here for Checklist of Documents

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