CONTRACTOR'S TERM LOAN

Term Loan Facility for Contractors

Micro, Small and Medium Enterprises (MSMEs) is the backbone of economic growth. Kerala Gramin Bank provides loans to cater various business needs of Contractors / Sub- Contractors under MSME segment.

Purpose

  • For purchasing brand new equipments
  • For acquiring office premises

Eligibility

  • Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub- contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
  • Borrower Should be Credit worthy and should have satisfactory dealings with the Bank
  • For new units, the market reputation of promoter should be satisfactory and he/she must be able to produce valid proof of business and size of turnover,in order to estimate the eligible limit

Limit & Margin

    Limit

  • Minimum Limit Rs: 10 Lakhs and Maximum Limit Rs: 1 Crores.
  • Margin

  • A margin of 10% needs to be invested by the borrower.

Security

  • Needs to be backed by Collateral security of Immovableproperty
  • The value of Collateral security should not be less than 150% of the working capital limit.

Repayment

  • 5 years inclusive of repayment holiday period, if availed for the purpose other than construction
  • 7 years inclusive of repayment holiday period, if availed for the purpose of construction/purchase of equipment

Interest Rates & Charges

  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.
  • For purchasing brand new equipments
  • For acquiring office premises
  • Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub- contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
  • Borrower Should be Credit worthy and should have satisfactory dealings with the Bank
  • For new units, the market reputation of promoter should be satisfactory and he/she must be able to produce valid proof of business and size of turnover,in order to estimate the eligible limit

    Limit

  • Minimum Limit Rs: 10 Lakhs and Maximum Limit Rs: 1 Crores.
  • Margin

  • A margin of 10% needs to be invested by the borrower.
  • Needs to be backed by Collateral security of Immovableproperty
  • The value of Collateral security should not be less than 150% of the working capital limit.
  • 5 years inclusive of repayment holiday period, if availed for the purpose other than construction
  • 7 years inclusive of repayment holiday period, if availed for the purpose of construction/purchase of equipment
  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.

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