Bihar Kshetriya Gramin Bank – Big – Vyapar

By | June 26, 2011

Purpose To finance working capital & term loan need to Retails & wholesale trading activities

Eligibility Existing enterprises engaged in business for at least 2 years & earning profit during last 2 years.

Quantum of Loan Minimum Rs. 50,000- Maximum Rs. 50 lakhs

Constitution Individual Proprietorship Partnership Limited Company (Private Public) HUF

Banking Arrangement–          Should deal with our bank exclusively.

Financial Statement Not insisted upon

Security –           Primary Security Hypothecation of stock adequately insured against comprehensive Risk.

Collateral Security: Equitable Mortgage of residential land & building having clear Marketing titles; Assignment of LIC policy lien  pledge  assignment on  of KVP, IVP, NSC,  Bank own fixed deposit, Govt. Bonds, RBI Bonds.

Personal Guarantee:    All Director of Company; All partner of firm; Owners of immovable properties offered as security & one guarantee from Person of repute

Value –           Equivalent to at least 100% of the total fund based WC limit & TL sanctioned.

Margin –           Nil

Rate of Interest –           12.00 %

Processing Charge –           1.1235 % of Limit sanctioned

Incentives –           0.50% for satisfactory conduct of the AC in 2nd year

Credit Rating Analysis Not Required

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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