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Oriental Uttam Vyapari

  • Eligibility
    Purpose

    a) For Working Capital : To meet day-to-day working requirement.

    b) For Term Loan :

    • Acquiring premises/land & constructions thereon on ownership basis required for running the business.
    • Financing of charges to convert lease hold business premises to free hold.
    • For repair/ renovation/ furnishing of existing business premises/showroom.
    • To purchase furniture & fixtures for business premises.
    • To purchase new equipments/ business tools/ computers/ UPS, Note: Loan for acquisition of land is not permitted.
    Eligibility

    Traders/ Business concerns having Registration/ License, if applicable under local laws (i.e. Shops & Establishments Act)/ appropriate authorities.

    • Existing units should be a profit making one.
    • Applicant should have been in business for 1 year.
    • New units may be allowed to avail the facility subject to compliance security clause and other terms of scheme.
  • Finance
    Nature of facility

    Cash Credit (Hypo) and/or Term Loan maximum Rs100.00 Lacs (metro and Urban -100.00 lacs, Semi Urban and Rural ₹ 50.00 lacs)

    Permissible Bank Finance

    For working capital:

    The Working capital facility shall be allowed based on 20% of realistic projected sales turnover and the inventory level depending upon the nature of business.

    For Term Loan:

    • 75% of cost of assets acquired in case of Term Loan.
    • 75% of cost of premises to be acquired for business purpose
    Service Charges
    • 0.50% for term loan (one time)+Service tax, if any. Maximum ₹25,000/-
    • ₹ 150/- per lac + Service tax if any in case of working capital limit. Minimum Rs1000/- and Maximum ₹ 25,000/-
    • Cash Handling charges – 25% of applicable charges.
    • Other Service Charges – As per Schedule of Service Charge.
    • No Documentation Charges
  • Security and Margin
    Primary Security

    Hypo of Stocks and book debts

    Coll. Security / Security Coverage

    A) CC / T / L upto Rs 10.00 Lacs (to be covered under Pradhan Mantri Mudra Yojana-PMMY):

    • Hypothecation of assets purchased out of loan amount.
    • Collateral security exempted upto Rs 10.00 Lacs

    *CGTMSE/MUDRA coverage shall be obtained in all eligible cases

    1. Cash Credit/Term Loan above Rs 10.00 Lacs and upto ₹25.00 lacs : Collateral security with realizable value at least equivalent to 50% of total exposure along with one personal guarantee of adequate net worth acceptable to the Bank. (Where there is no CGTMSE Coverage) OR Equitable mortgage of immovable property having realizable value at least equivalent to 100% of the total exposure.

    2. Cash Credit/Term Loan above Rs 25.00 Lacs: Equitable mortgage of immovable property having realizable value at least equivalent to 100% of the total exposure.
    In case of purchase of Shop / Office premises - Its mortgage is mandatory No additional collateral security is required, if the total loan limit is less than the value of purchase of land and building.

    Margin
    • > 20% on stocks (working capital)
    • > 40% on Book Debts not older than 6 Months
    • > 25% on purchase of shops/ Office premises, equipments etc.
  • Rate of Interest
    ROI
    Loan Limit Rate of interest
    Loan upto ₹ 10.00 Lacs MCLR+1.50%
    > ₹ 10.00Lacs and up to ₹ 25 lacs MCLR + 2.00%
    Loan above ₹ 25,00 MCLR+2.25%
    Repayment
    • Term Loan: 3 to 10 years inclusive of maximum moratorium period of 6 months, if required. (Depending up on cash flows of the applicant)
    • Working Capital Limit shall be renewed every.
    Repayment Period/ Term
    • *Term Loan; 3 to 10 years inclusive of maximum moratorium period of 6 months, if required. (Depending up on cash flows of the applicant)
    • * Working Capital Limit shall be renewed every year.
  • Apply Now
 
 
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