Chaitanya Godavari Grameena Bank – Loans for Small Business

By | March 29, 2011

Chaitanya Grameena Bank and Godavari Grameena Bank sponsored by Andhra Bank merged into a single Regional Rural Bank on 01.03.2006 to form Chaitanya Godavari Grameena Bank with its Head Office at Guntur, Andhra Pradesh.

Purpose: This loan finance small businesses including individuals and firms managing a business enterprises established mainly for the purpose of providing any service other than professional services whose original cost price of the equipment used for the purpose of business does not exceed Rs.20.00 lakhs without any restriction on working capital limit

 

Eligibility: Individuals / partnership firms providing any kind of services other than professional services. Eg. Hotels, cycle & taxi, Tea Stall, Photostat, PCO, Pickle making, Hair cutting Saloons, Mike Set, Kite Making, etc. are eligible for this loan. Dealers in mineral oils can also avail this loan.

 

Quantum of Loan: Individuals or business firms managing business enterprise for providing any services other than professional services whose original cost price of the equipment used for the purpose of business do not exceed Rs. 20 lakhs can obtain this loan. There is no limit to the working capital loans.

Repayment: Repayment has to be done within 36 to 48 Equated Monthly Installments depending upon the repaying capacity of the borrowers.

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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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