Educational institutions i.e Universities, Colleges and Schools
Eligibility
The institutions must have got necessary approval from Government/Government agencies for running the educational insitutions
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, repair and renovation of building, purchase of Furniture & Fixtures and Computers.
Facility
Term Loan
Quantum
Minimum Rs. 10 lakhs, maximum Rs. 500 lakhs
Margin
Minimum 20%
Rate of Interest
As applicable
Security
Primary :
Hypothecation of assets, if loan is considered for machineries/equipments
Mortgage of land & building over which construction is proposed
Collateral :
Suitable collateral to be obtained so that minimum Asset Cover of 1.50 is available. Guarantee of key person/promoter/trustee must be taken
Repayment
Period
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
