Business Loan is offered to customers for meeting day to day working capital requirements and can be provided in the form of overdraft / working capital loans. The maximum tenure of the loan shall be for 1 year and will be subject to renewal as per client’s requirement and satisfactory transaction record in the account in terms of repayment, turnover, etc.
The purpose of this facility is to finance the working capital requirement of the trading, manufacturing and service units/industries. The working capital loan will help to build up inventories and receivable at a level required to run the business smoothly.
Fixed Term Project Loans facility will be provided in order to facilitate customers to establish manufacturing industries or production units or purchase of fixed assets.
Financing on working capital requirement of business.
Financing Ratio:Subject to security Coverage - Maximum of 70% of current assets.
Nature:Revolving and Renewable
Disbursement: Limit is provided on the account and borrower can withdraw the account within limit as per need.
Principal Repayment: Full within Expiry or can be renewed on satisfactory performance.
Interest Repayment: On monthly/quarterly basis.
Tenure: Maximum one year period.
Security: Land and Building/ Land and other Intangible securities