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Term Loan/ Working Capital scheme for Professionals and Small Business Enterprise which takes care of their financial requirements. 

Amount:

Max Rs.50 lakh for Professionals, Retail Traders, Small Businessman (Services) and Small Businessman (Manufacturing)

Basis:

  1. Working Capital: 20% of Net Turnover for manufacturer and 15% for Traders & services
    Term Loan:
    (1) 4 times of Gross Cash Accruals (Average of last 3 years or latest audited Gross cash accruals)                    Or
    (2) 70% of Realisable value or 60% of market value of new asset to be purchased
         (1) or (2) whichever is lower.

Rate of Interest:

  1. PLR - 2.35% i.e. 11.65%.
  2. 0.10% concession for woman entrepreneur

Repayment:

  1. Max: 7 years
  2. Max moratorium period: 1 year

Security:

Primary security: Mortgage or hypothecation of Fixed Assets and for working capital charge on current assets.
Collateral Security:
Term loan for acquiring office/shop premises – Nil
Term Loan for acquiring other assets and/ or Working Capital limit –
Upto Rs.10 lakh: Nil
Above Rs.10 lakh & Upto Rs.25 lakh :25% of advance
Above Rs.25 lakh: 50% of advance
Fresh Valuation of all the assets mortgaged is necessary



Shareholding:

2.5% of facilities sanctioned, max. Rs.25,000

Processing fees:

  1. Upto Rs. 5 lakh: Nil
  2. Upto Rs. 10 lakh Rs.5,000
  3. Upto Rs. 25 lakh Rs.7,000
  4. Above Rs.25 lakh Rs.10,000

Exclusive of applicable taxes


Documentation:

For loans upto Rs 2 lakh
  1. Self attested financial statements
  2. SETU certificate from SETU office
  3. Bank statement of 6 months




For loans upto Rs 10 lakh
  1. CA certified latest financial statement
  2. ITR of latest year
  3. Bank statement of 6 months
  4. Stock statement of 3 months





For loans above Rs 10 lakh
  1. CA certified financial statements for atleast last 2 years
  2. IT with computation of income for atleast last 2 years
  3. Bank statement for 6 months
  4. Documents for creating mortgage as per bank list
  5. Self declaration for Asset -liability