V Restaurant

 

Purpose
  • Acquiring premises & renovation/modernization of existing premises and interior decoration.
  • Purchase of Kitchen equipments/Furniture & fixtures.
  • Meeting working capital needs.
Eligibility
  • Individuals/Sole Proprietorship/Partnership and Company (Private/public ltd) or any other such business entity.
How much you are entitled to?
  • Maximum of Rs. 300.00 lakhs.
  • Working capital: Maximum of Rs 20.00 lakhs
What is your contribution?
  • 25% forKitchen equipments/Furniture & fixtures.
  • 35% for purchase/construction/expansion/renovation/modernization of premises and interior decoration.
Security
  • Hypothecation of assets both existing and acquired out of bank finance & collaterally to be secured by mortgage of property.
  • No guarantee/collateral for loans up to Rs. 100.00 lakh if covered under CGTMSE.
  • Mortgage of property in case of construction/acquisition of land & building.
Guarantee
  • Personal guarantee of partners/promoters.
  • Suitable guarantor with good net worth.
Repayment period
  • Working capital – one year (can be renewed on yearly basis).
  • Term loan – Maximum of 84 months.
Rate of interest
  • Base Rate + 2.05 = 11.70% p.a. (floating).
Pre-payment/Pre-closure charges.
  • No Pre-payment/Pre-closure Charges shall be levied.
Processing charges
  • Ranging from 0.16% to 0.56% of sanctioned limit.
For more details contact our nearest branch or call to our toll free no 1800 425 5885.
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