To
standardize the loan appraisal process, reduce the delay in
sanctioning process and bring in consistency in appraisal by
eliminating objective element in assessment
Eligibility
The
facility is available only if the answers to all the following
questions are “YES”
Whether
the chief promoter is below 60 years of age?
Whether
none of the promoters has defaulted in payment of loans
/guarantee to the lender/s?
Whether
all the clearances including but not limited to
environmental clearance for the project has been obtained /
satisfactory evidence of their being made available will be
provided?
Whether
the borrower/s belong to the area of their antecedents could
be verified with satisfaction?
Nature
of Facility
Term
Loan / Working capital loan
Quantum
of Loan
20%
of the projected sales or 67% of project cost.
Minimum:
5 lacs
Maximum:
Below Rs.25 lacs
Repayment
Not
exceeding 5 years for term loans and subject to renewal every
year for working capital loans.
Security
Primary
:Hypothecation of
assets acquired out of Bank finance.
