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Particulars
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Scheme Details
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Name of the scheme
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Small Business Loan
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Key features
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- Higher loan eligibility
- Flexible assessment
- Multiple financing options
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Target Customers
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(i) Self Employed Non-Professionals (SENP): Manufacturers, Traders, Wholesalers, Retailers, Service Providers
(ii) Self Employed Professionals (SEP): Doctors, CA, CS, ICWA, Architect, Engineer, etc.
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Vintage
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Minimum business vintage of 3 years.
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Age
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Minimum age: 21 Years and allowed up to maximum 65 years
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| Purpose |
- To meet the working capital requirement of the business.
- Business purposes viz. Expansion, Acquisition of Assets, renovation of business premises, modernisation, etc.
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| Nature of finance |
- Overdraft
- Term Loan
- Dropline Overdraft
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Quantum of Finance
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Rs. 10 Lakhs to Rs.50 lakhs
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Period of Loan
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Over Draft- Max up to 36 months
Term Loan/Drop Line- Max up to 60 months
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Processing fees
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Up to 1.00%
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Rate of Interest / Charges/
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As per pricing norms of the Bank.
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Loan To Value
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As per LTV norms of the Bank
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Documents required for assessment
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- 2 years Audited/Unaudited financials
- Last 12 months GST returns
- 2 years ITR with computation sheets
- Previous 12 months Current account statement
- KYC documents of the borrower/guarantors
- Proof of residence/Proof of Office, business
- Latest licenses and approvals for running the business
- Any other relevant documents called for by the Bank
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