Objective
•
To meet the day to
day operations mainly for stocks, book debts and overheads expenses.
Promoters’
Contribution
• Minimum 30%..
Debt
Equity Ratio
• Maximum up to 70:30.
Interest
Rate
| Type
of Loan |
Prime |
Others |
| Working
Capital Loan |
| Industry |
11.00% |
12.50% |
| Others |
12.00% |
13.00% |
| Consortium
Financing |
As per
Consortium Decision |
|
• Interest is payable quarterly( Ashwin
end, Poush end, Chaitra end & Ashad end ).
Repayment
• Maximum up to 1 year with revolving facility at the discretion
of NDBL.
• In the event of non-payment of any installment or in the
event of any other irregularity
continues, in such a
situation a penalty will be levied as per the Bank’s regulations.
Documentation
• Loan Agreement Paper.
• Sole & first charge over Inventory & Accounts Receivable.
• Personal Guarantee.
• Corporate Guarantee, if necessary.
• Promissory Note.
• Internal loan Commitment Paper.
• Registration/Tax Clearance Certificates (including VAT).
• Articles of Association and Memorandum of Association.
• Loan Authorization Letter ( Board Minute ). |
