CC facility for Small Business Loan

Parameter	Details
Loan Amount	Up to Rs. 7,50,000/-
Rate of Interest	12% to 16% p.a. (under the sole discretion of sanctioning authority)
Period	Maximum 12 months (Renewal every Year)
Margin	0.3
Guarantors	Two Guarantors
Share Holding	@2.5% of sanction limit
Processing Fees	@ 1 % of loan amount + applicable G.S.T. @ 0.25% every year at the time of renewal
Eligibility	20% of total Sales or 70% of (Debtors+stock-creditors) or Requested amount whichever is lower.
Documents	As Applicable. (ITR, Financials, Bank statements, Stock & debtors statement, any other as applicable)
Insurance	As applicable. (Personal insurance and insurance for stock & furniture at shop)
Renewal	Every year
Security	Hypothecation of stock + debtors – creditors, Furniture in premises

Who can Apply:

Business units having more than 3 years continuous business activity in same premises within the vicinity of branch.
Valid permission for business must be live and renewed properly and timely.
Proper maintaining record of stock, debtors and creditors
Constant rise of sales and profit for continuous three years
Proper filing of income tax/Sales Tax/any other as applicable.
No default of any statutory payment
Net worth to be certified by branch authority and documents related to same be kept on record.
CIBIL more than 600 (No adverse Remarks)
Quarterly inspection of business unit and stock by branch verification