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1.
Eligibility :
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The assistance will be available to
qualified professionals in the field of
Management, Accountancy, Medicine,
Architecture, Software Professionals and
Engineering who have the basic degree /
professional qualification in their
respective profession (MCA degree in
respect of software professionals) for
setting up of their own business
utilising their professional skills.
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Assistance in the form of Working
Capital Term Loan will be considered to
Hospitals, Hotels, Restaurants,
Marketing of MSME products, Retail
outlet of MSME / SME products, cold
storage units / preservation of goods,
which are existing for the pat 3 years
with positive networth and continuous
cash profit for the past 3 years.
2.
Types of assets considered for financial
assistance :
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Term
Loan
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For
construction of Building in the land
owned by the promoter and for
equipments, vehicles, partition
work, furniture, computer software,
etc.
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For
Working Capital
3. Quantum of Loan
: The quantum of assistance shall be
minimum of Rs.10.00 lakhs and maximum of
Rs.50.00 lakhs. If assistance is
sought for working capital alone, then the
quantum of loan shall be restricted to
Rs.30.00 lakhs.
4. Promoter's
Contribution : The minimum
promoter's contribution shall be 35% of
the total outlay.
5. Repayment
period :
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For term loan
component, the repayment period is 5
years including a moratorium period of 6
months.
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For working
capital term loan, the repayment period
is 3 years including a moratorium period
of 4 months.
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The
installments are payable every month on
the first day of the month.
6. Collateral Security :-
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For working
capital term loan - 125% of the
loan amount.
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If the fixed assets are highly movable
or prone to rapid obsolescence -
100% for term loan component.
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If primary security includes land and
building, collateral will be 50% of the
term loan amount.
Click
here for Rate of Interest
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