Rajasthan: Corporate Term Loan Scheme By RIICO

Rajasthan State Industrial Development and Investment Corporation (RIICO) has launched Corporate Loan scheme with a view to provide term loan speedily for meeting various financial needs of an existing concern, it is proposed to make a scheme of Corporate loan for profitable and financially sound companies operating in Rajasthan and having good track record, for undertaking expansion/diversification activities and for long term working capital requirement.

Eligibility Criteria:

• The company should have been borrower as well as other financial institutions.
• The company should have a satisfactory track record with financial institutions and banks for last 3 years.
• The company should have net worth of at least Rs. 250 Lakhs and annual turnover of Rs. 1000 Lakhs.
• The company should be in production for the last three full years and earning cash profits for at least last 2 years.
• The debt equity ratio (after availing loan) should not exceed 1.5:1.
• The DSCR of the company (after availing loan) should not be less than 1.5:1.

Benefits:

• Term Loan up to Rs. 1000 Lakhs depending on eligibility criteria will be given to the company.
• Rebate of 2% on timely payment and additional 1% rebate in case borrower is eligible under Incentive Scheme for good borrower of the corporation.
• The borrower will have the facility to prepay the term loan without levy of prepayment premium.

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