Purpose of Loan:
Investment in fixed assets such as business premises, furniture and fixtures for business premises, IT systems, interior decoration, machinery, equipments, construction of factory/office buildings or repairs/renovation thereof etc.
Working capital requirements for trade/manufacturing/service sectors.
Infusion of long term WC.
Mismatches in cash flow.
Payment of duties/taxes etc.
Setting up/expansion of small business/trade.
Contractors for earnest money deposits, undertaking contract works.
Individual businessmen who are over 21 years of age. Upper age to be considered in such a way that the repayment of the loan would be completed before the applicant reaches the age of 65 years.
Proprietorship/partnership firms that have been in existence for at least five years.
Limited liability companies which have been in existence for at least five years.
Trusts and societies would not be eligible.
Quantum of Loan:
Minimum loan amount: Rs.1 lakh.
Maximum loan amount: Rs.300 lakhs.
Rate of Interest:
Interest rate for Dhanam Ready Money Loan is (Benchmark Prime Lending Rate) BPLR + 1.
EMIs/quarterly/half-yearly/annual/bullet repayment depending on the nature of identified cash flow.
200% by way of RE.
Loan/advance up to 75% of the assessed/market value of other securities like Government bonds/securities, gold, life insurance policies etc.
Post-dated cheques covering the installments.
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