| Target group |
Educational Institutions viz., Universities , Colleges , Schools |
| Eligibility |
- The institutions must have got necessary approval from Government / Government agencies for running the educational institution
- They should submit 3 years audited financial statements
- They should be profit making for continuous 2 years.
- New and upcoming educational institutions can also be considered in which projections, both financial and non-financial, must be reasonable and justifiable.
- Entry level credit rating is SBS 5. No deviation to be allowed.
|
| Purpose |
- Construction/ Renovation / Repair of building. Approval for construction/addition/alteration from all the concerned authorities must be in place for considering the credit facility.
- Purchase of Computer, lab equipment, Furniture & Fixtures, books etc
|
| Nature of facility |
Term Loan |
| Quantum of Loan |
Minimum Rs.10 lacs and Maximum Rs.500 lacs |
| Repayment |
Term Loan to be repaid in maximum 8 years inclusive of initial moratorium of 12 to 18 months. Periodicity of instalment to be determined on the basis of cash flow |
| Appraisal of loan |
The proponent should have sufficient cash flow to service both instalment and interest.
DSCR should be minimum 1.25. |
| Margin |
Minimum 20% |
| Rate of Interest |
As per prevailing rate of interest structure in terms of HOBC:104/94 dt. 15-11-2010 |
| Processing Fee, Documentation charges etc |
| For accounts falling within regulatory definition of MSME : In terms of HOBC : 102/218 dt. 20-03-2009. |
For accounts not falling within regulatory definition of MSME but within the new definition of SME : In terms of HOBC: 102/119 dt.19-09-2008. |
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