Loan For Professionals

Loan for Doctors

Strengthening of professional services in the North Eastern Region by providing financial assistance in the form of term loan for setting up/expansion/modernization / purchase of equipment and other activities by Chartered Accountants, Company Secretaries, Cost Accountants, Architects, registered Valuers, etc.

Eligibility

Qualified Chartered Accountants, Company Secretaries, Cost Accountants, Architects and registered Valuers have minimum 2 years of practicing experience
CIBIL score of above 700+
Gross Receipt of minimum Rs. 5 lakhs
Constitution: Individuals/ Partnership/ Ltd Liability Partnership/Pvt. Ltd. Co.

Photo identity and Address proof : As per RBI defined KYC guidelines.
Business Proof : Trade License/MOA & AOA/GST Registration/ITR, Partnership Deed etc. as per applicability.Trade License/MOA & AOA/GST Registration/Income Tax Retrun, Partnership Deed and other documents as per applicability.
Additional documents may be collected during the loan application process as per actual requirement.

Key Features

Rate of Interest

7% p.a

Repayment

Upto 60 months

Nature of Assistance

Term Loan

Upfront Fee

1% of the Loan amount

Security

First charge on current assets including book debts both present and future.
First charge/ hypothecation on the plant and machinery, misc. fixed assets, other movable assets created out of the loan both present and future.
Personal Guarantee of the Promoter (s)/ Guarantor(s).
Coverage under CGTMSE for all proposals / collateral security as required.
Applicable CGTSME fee (AGF/ASF) as applicable, to be borne by the promoter.

Other Terms & conditions

Extent of Assistance: Maximum 75% of the project cost
Promoter’s Contribution : Minimum of 25% of the Project Cost.

Key Area

Chartard Accountant

Company Secretary

Cost Accountants

Architects

Registered Valuers

Maximum Loan Amount upto 50 Lakhs

Moratorium upto 12 months

Interest calculation on Reducing Balance