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