Features

Type of facility: Working capital and Term Loan (TL) facilities are available.

Quantum of loan: Need based financing. However maximum loan amount is Rs.5.00 crore per FPO/FPC.

Interest Rate: Attractive Interest rate.

Security:

• Primary Security: Assets created by bank loans & charge on movable and immovable properties of the company/association.
• Collateral Security: as per NABSanrakshan guarantee norms or third-party guarantee/mortgage where applicable and where NABSanrakshan guarantee is available no security required.
• Loans up to Rs.2 Crores with Credit Guarantee Cover will be Collateral free and a Hybrid Model (with partial collateral security & prior permission from HO) 75% Collateral security to be obtained for amount above Rs.2 crores as per product feature.
• Loans up to 2.00 lakhs without any Credit Guarantee Cover requires no Collateral security and Mortgage of SARFAESI Compliant Property having realizable value not less than 100% is required for Loans above Rs.2.00 lakhs

Repayment

• Working Capital: As per bank guidelines. Term Loan: As per extant guidelines based on the purpose of and income generation pattern of the activity.

Eligibility

Must be legal entity registered with any of the following :

• The State Cooperative Societies Act of Uttarakhand state.
• Mutually aided society act of respective (Uttarakhand) state.
• Multi State Cooperative Society Act 2002.
• The FPCs registered under Companies Act 1956/2013 * It should have a minimum member base of 300 for Plain and 100 for Hilly areas.
• The FPOs should have been in operation for at least 12 months.