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  • August 12,2020
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obc budget hotel and restorents

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  • obc budget hotel and restorents
 
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  • Eligibility
    Eligibility
    • Individual, Proprietorship, Partnership firms, Limited Liability Partnerships (LLPs), Private / Public Ltd. Cos.
    • Units under Micro, Small and Medium Enterprises in Service Sector with original investments in equipments not exceeding ₹ 5 Crores.
    • Units must have valid license to conduct such business by Municipal/Local Administration.
  • Finance
    Nature of facility Term loan and Working Capital to be provided in the shape of Overdraft.
    Purpose
    • To meet credit requirements to purchase land and/ or set up a unit for business of Hotels / Restaurants / Lodges / Guest Houses / Motels / Dhabas / Pizza Centres (Franchises) / Mess / Canteen / Catering Services / Service Apartments (a serviced apartment is a fully furnished apartment available for both short-term as well as long-term stays, providing all the hotel-like amenities, such as having room service, a fitness centre, a laundry room, and/or a recreation room) / Banquets / Coffee Shop / food and beverage joints with entertainment / Gaming permitted by law etc. run by themselves including takeover of credit proposals from other Banks.
    • To upgrade /Renovate /Expand existing units by purchase of Furniture and Fixtures / Machineries / Equipments / Vehicles etc.,
    Quantum of Exposure Upto ₹10.00Crore.However,OD can be sanctioned up to ₹0.50Cr.
  • Security/Margin
    Primary Security
    • Hypothecation of entire equipments, Current and noncurrent assets of the Unit.
    • Mortgage of Project Land with existing/future constructions thereon.
    Coll. Security / Security Coverage

    Minimum 25% of the loan amount by way of Mortgage of Immoveable property (Other than Agricultural Land) /Liquid securities.
    Note: -Residual value of the primary security mortgaged with Bank over 150% of the total loan amount can be reckoned for Collateral Coverage.
    OR
    CGTMSE Coverage/PMMY Coverage.
    MARGIN 25% for both Term loan and Working Capital.
  • Rate of Interest and Repayment
    Repayment Period/ Term maximum 10 years (including Construction period/moratorium period).
    ROI If the facilities are covered under CGTMSE/PMMY Guarantee Coverage then ROI shall be applicable as per respective Guarantee Coverage.
    Rate of Interest linked to collateral security coverage is as under:
     
    25% to 50% 1 year MCLR+2.50%
    50% to 75% 1 year MCLR+2.00%
    Above 75% to 100% 1 year MCLR+1.75%
    Above 100% to 150% 1 year MCLR+1.25%
    Above 150% 1 year MCLR+1.00%
  • Apply Now
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