Business Loan

A business loan for working capital / purchase of equipment / instruments will be provided to the self employed and professionals to meet their liquidity mismatches.

 

Eligibility

  • Self employed, professionals , proprietors of small business units, shops ,   small establishments, petty traders ,  SME units, etc. (other than street vendors, peddlers, etc.)
  • Minimum business turnover Rs. 1,00,000/- per year
  • Reasonable profit in past years
  • The applicant should be above 18 years of age and below 65 years
  • Loan amount Rs. 50,000/- to Rs. 2,00,000/-
  • Repayment Equal Monthly instalments of 12 to 24 months
  • Pre closure / prepayment after 6 months will be permitted with a penalty of 2% of the pre-paid principal amount.
  • Security only third party guarantee of family members or persons of repute with sufficient income and acceptable to the society
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