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Beauty Parlors Boutiques

  • Eligibility
    Purpose

    To develop entrepreneur-ship among women and also to ensure the easy, timely and convenient access to women to institutional credit

    Eligibility
    • Proprietary concerns of women
    • Partnership firms, where majority partners are women
    • Companies, where majority of promoters shares are held by women.
  • Finance
    Nature of facility

    Term loan :For the purchase of tools/equipment/furniture & fixture, shop etc.

    Working capital : For running day to day expenses of business

    Loan Amount

    Upto ₹ 10.00 Lacs , Out of which WC not to exceed ₹ 5.00 Lacs

    Process fee

    0.50% of the loan amount with a minimum of ₹ 500/-.

  • Security/Margin
    Security

    Primary: Charge over the assets (movable & immovable) purchased out of Bank’s finance.
    Collateral

    • Up to ₹ 2.00 Lacs – NIL
    • Above ₹ 2.00 Lacs- Tangible collateral security up to 100% of loan
    Margin Limit

    In case of purchase of shop the margin will be 25% irrespective of loan

    Loan Limit Margin
    Loan upto ₹ 25,000/- Nil
    Above ₹ 25,000/- & upto ₹ 2.00 Lacs 15%
    Above ₹ 2.00 Lacs & up to ₹ 10.00 Lacs 25%
  • Rate of Interest and Repayment
    Repayment Period/ Term

    In case of Term Loan, the repayment period is 5 to 7 years with maximum moratorium of 3 to 6 months depending on the Cash flow / project viability report. However, working capital shall be reviewed / revised as per bank’s system in vogue .

    ROI
    Loan Limit Normal ROI If covered under CGTSME
    Loan upto ₹ 50000/- MCLR +1.75% MCLR
    Loan above ₹ 50000/- & upto ₹ 2.00 Lacs MCLR +2.00% MCLR
    Above ₹ 2.00 Lacs & up to ₹ 10.00 Lacs MCLR +2.25% MCLR + 1.00%
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