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Particulars
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Scheme Details
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Name of the scheme
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SIB-Pharma Plus
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Target Customers
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Pharma Dealers/ Distributors/ Stockists (Wholesale or Retail)
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Eligibility
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Business should be in existence for a minimum of 3 years and should be making profit for at least 2 years.
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Purpose
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To meet the working capital requirement of the business.
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Nature of finance
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1. Cash Credit Open Loan
2. Letter of Credit
3. Bank Guarantee
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Quantum of Finance
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Rs. 25 Lakhs to Rs.15 Crores
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Rate of Interest / Charges/ Commission
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Competitive Rates available.
The interest rate/charges for each loan is determined based on the merits of the accounts.
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Processing fees
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Up to 0.50%
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Collateral security
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50% to 75% collateral required(based on scheme conditions)
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Preliminary Documents to be produced
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- KYC documents & Latest license copy
- Audited/unaudited/provisional financials and next year’s projections.
- Copy of Dealership agreements with manufacturing companies, if any.
- 12 months GST returns/GST validation report.
- Udyam registration certificate, if available.
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Period of Loan
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12 months. Limit to be renewed every year.
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Pre-Closure Charges
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Applicable as per bank’s norms.
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