Features
♦ Loan upto 75% of the cost of Machinery/equipment.
♦ Repayment in 60/72 EMIs
♦ Rate of Interest depending upon Credit Rating of applicant, as applicable from time to time.
♦ No prepayment Penalty if closed after two years.
Eligibility
♦ Borrower’s present profile and satisfactory experience in the line of business.
♦ CIBIL Score 650 with on Overdue of applicant(s)/guarantors.
♦ Collateral Acceptable Registered Security/Property uotp 60% of Distress Value of the loan amount.
Required Documents
♦ KYC documents 0f applicant(s) and guarantor(s) – Business and Residential.
♦ MSME Certificate and all other certificates relevant to the nature if activity.
♦ Financial papers along with Min. Two Years ITRs.
♦ Audited Balance Sheet wherever applicable.
♦ Projections for next 5/6 years with satisfactory DSCR.
♦ Two acceptable guarantors with acceptable income.
♦ Hypothecation of Machinery/Equipment as primary security with collateral security.