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FLEXI LOAN FOR HOTELS, HOSPITALS & NURSING HOMES

FLEXI LOAN FOR HOTELS, HOSPITALS & NURSING HOMES

scheme June 22, 2016 19 Views

Objective:

Providing quick finance with flexibility in utilization of loan to well established units in tourism and health care sector for  renovations & additions at the existing facilities having investment in civil works, landscaping, interiors, furniture, equipment, etc.

Eligibility:

Any Organisation/Company/organisation should:

  • have been in operation for the last 3 years.
  • have earned cash profits in the preceding 2 financial years.
  • not in default to financial institutions/banks in the repayment of their due.

Loan Limit:

  • Maximum of Rs. 1.00 crore subject to total debt exposure in the unit including the amount of proposed assistance shall not exceed the sum of prevailing reserve price of land and valuation of building as per certified valuer.
  • Rebate of 2% as per prevailing policy.

Security Margin:

Minimum 25%. Loan up to 75% of the cost of modernization, upgradation, renovation, additions, etc.

Repayment Method:

In 5 years in quarterly instalments including moratorium of 6-12 months depending upon repayment capacity.

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