SCHEME NO. : 4

 

  1.

Name of the Scheme

MEDIUM TERM MULTI PURPOSE LOAN

 

  2.

Purpose of Loan

 

For meeting various financial needs of an assisted unit of the Corporation.

 

  3.

Eligibility Criteria

 

Profitable and financially sound companies having good track record operating in Rajasthan. The industrial unit should satisfy the following criterion:

 

1. The company should have been classified as           standard asset of the Corporation.

 

2. The company should have paid atleast one third of principal amount of term loan

disbursed.

 

3. The company should be in production for the last 3 years, earning cash profits in the last two years.

 

  4.

Loan Limit

 

Maximum of Rs. 2.00 crores subject to ceiling of aggregate term loan of Rs. 10.00 crores. Loan amount should not exceed the amount of term loan repaid by the company. The loan shall be limited to 70% of value of fixed assets.

 

  5.

Security Margin

 

Minimum 25%

  6.

Promoters' Contribution

 

NA

 

  7.

Debt Equity Ratio

 

1: 1 (after availing loan)

 

  8.

Interest Rate

 

Prevailing rate of interest.

 

  9.

Repayment Period

 

5 years in quarterly installments including moratorium period not exceeding 6 months. However, the corporation will have an option of accelerated repayments in initial years depending upon the repayment capacity of the borrowers.

 

10.

 

Mode of Payment

Post dated cheques of principal & interest.

 

11.

Rebate on Timely Payment

 

As per prevailing policy - 2% wef 16.07.2009.