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| S E R V I C E S
Working Capital Term Foreign Currency Loan &
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WORKING CAPITAL TERM LOAN SCHEME SCHEME FOR RE-SANCTIONING OF WORKING CAPITAL TERM LOAN IN SEASONAL INDUSTRIES. The scheme of re-sanction of Working Capital Term Loan was introduced by the Corporation in the year 1995 with a view to help entrepreneurs maintain their working capital level without much problems for smooth running of units. Certain modification were introduced subsequently based on the experience of the Corporation in operation of the scheme. The scheme received very encouraging response from out borrowers. However, entrepreneurs who are running seasonal industries have requested a different scheme as their working capital funds are required mainly during the season of that particular activity and they have to unnecessary bear interest cost for the fully year making their operations less competitive in market. We have, therefore, devised a sheme for re-sanction of working capital for only seasonal industries, viz,; cold storage, rice mills, dall mills etc., where borrowers will have an option to prepay the loan amount (during the off-season) and get in re-sanctioned during season.
1] ELIGIBILITLY CRITERIA; (i) The party has been consistently regular in repayment of loans and have not diluted the security already mortgaged to the Corporation. (ii) Existing Working Capital term Loan has been substantially repaid, but there is some outstanding balance in the account. (iii) Corporation will have 1st charge on the prime assets and no pari-passu 2nd charge will be permissible in favor of any Bank/Institution.
2] MAIN TERMS OF THE SCHEME: [i] No processing fee, Legal Fee and Service Charge will be levied. [ii] Annual Supervision Charges will be levied @ 1% on amount outstanding on proportionate period on monthly basis. |
