Working Capital Term Loan SchemeBANGALORE, INDIA: JK Bank Saral Finance to Small Businessmen is being designed with a purpose to provide working capital term loan finance to small traders/vendors. Its a term Loan facility.
Existing Small businessmen/ traders/vendors.
Existing Businessmen Should have been in existence for at least two Years.( Existence of the units to be verified by the concerned Branch – through purchase bills related to the activity/ stocks of the unit or any other documentary proof- Copy of the same be kept on record)
Should not be availing any credit facility from any financial institution/ bank for existing business activity.
Borrowers’ residence/place of business establishment shall fall within the service area of the branch through which the loan is disbursed.
Outlook for the sector/s in which the firms are involved should not be negative.
Amount of Loan
Min: 10,000 (Rupees Ten Thousand only)
Max: 3,00,000 ( Rupees Three Lacs Only)
The permissible finance to be assessed purely on the need based working requirement of the unit, to be worked out by the business Unit with maximum quantum of 3.00 lacs.
Margin: 25% of paid up stocks and book debts
Tenor: Initially 5 years from ist disbursement subject to review after every two years.
1) Hypothecation of stocks existing as well fresh to be purchased & Book debts.
1) Loans upto 50,000 shall be allowed on personal guarantee of the Borrowers.
2) Third Party guarantee of two persons of sound means against loans above 50000 shall be obtained.