Purpose – The loan scheme primarily benefits all cottage/small scale industries, small business enterprises, traders, artisans, self-employed persons, retailers, whole sellers & all other types of businessmen to strengthen and extend their business areas
Eligibility – This type of loan is available to all types of traders, small scale industries, business man for working capital for a period of 1 year which can be renewed every year subject to the conditions that the a/c of said limit is operated by the borrower as per the norms of RBI and have furnished the required monthly returns in time
Quantum of Loan – Rs.3000/-to Rs.20000/
Repayment – The repayment schedule depends upon borrower’s repaying capacity, nature & purpose of loan and total project’s amount differing from case to case
Documents Required – Documents of immovable property valued to 150-200% of the loan amount as security of the loan in form of equitable mortgage or conditional registered mortgage.
Applicant’s financial position of last three years with Income tax/sales tax assessment orders.
Borrower’s competency to manage the business to be financed is taken into consideration.
Net worth of the borrower as well as of guarantor; Income tax papers for supporting
The others loans offered by the bank includes home loan, personal loan, education loan etc.