Rajasthan: Short Term Loan For Good Borrowers

Rajasthan Industrial Development and Investment Corporation Limited under Rajasthan Government has come up with Short Term Loan to Existing Good Borrowers Scheme to provide term loan to good borrowers for meeting various requirements including the working capital needs of the company.

Eligibility Criteria:

• Existing good borrowers of RIICO and other financial institution classified as standard assets.
• The net worth and annual turnover of the company should be in range of Rs. 25-50 Lakhs and Rs. 100-200 Lakhs respectively depending on amount of loan sought in the range of Rs. 1-100 Lakhs.
• The borrower should have two years track record of consistent turnover and cash profits with good financial position.
• The overall debt to equity ratio of the company / firm should not exceed 1.5: 1.
• Borrower should not be availing assistance under incentive scheme of good borrowers.

Benefits:

• Loan up to Rs. 200 Lakhs will be given to the company.
• Security Margin: Minimum 25%
• Interest rate will be 1% less than prevailing rate of interest.
• Upfront fee will be 0.5% of the amount of loan sanctioned.
• Rebate on interest rate @2% is available on timely payment.

For Details: Click Here