Business development loan

Business Development Loan

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Business development loan
Who can Borrow Individuals/Proprietary concerns/firms /companies /Limited Liability Partnership
As the scheme is only to cater to customers engaged in business/profession/trade, people who are running their own business/self employed/SSI registered units/MSME, Practicing Professionals/ Traders etc are eligible.
Purpose For overcoming expenses incurred by borrowers engaged in business/profession/trade for acquisition of commercial premises [acquired on Pagdi/Lease Basis], renovation & repairs to be carried out at existing factory/commercial premises from wherein business is conducted, Purchase of Raw Material/ Machinery/Equipment’s, Payment to Sundry Creditors, Payment of Unsecured loans[as reflected in audited balance sheet], take-over of credit facilities availed for business purpose from other banks /FI/NBFC’s.
Security Immovable Property  such as flat/shop/Industrial Gala /land along with House/Row house/Land along with factory premises etc.having all requisite permissions from competent authorities owned by the proprietor /firm /partner /Co’s/director in personal capacity
Margin 40% [market value of the security offered].
Rate of Interest

10.25% p.a **
Repayment Maximum 120 months
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of the Borrower & Guarantors
  2. ITR Returns along with Financial statements for the last 3 financial years of the Borrower /Partners/Directors /Guarantors etc, Business account statement for the last two years.
  3. Title Deeds of the property offered as security.
  4. Details of End use of the funds.
Professional loan
Who can Borrow Doctors, Chartered Accountants, Cost Accountant, Company Secretary, Architect.
Purpose For purchase of Premises for business / renovation of premises, Machinery, New Software Technology, Working Capital
Limit Purchase of Property : 75% of (AV inclusive of Stamp duty & Registration) Purchase of Machinery/Renovation : 75% of the Proforma Invoice /Quotation submitted
Security Immovable Property Such as Premises/ Gala created from Loan amount and Machinery, Equipment etc to be purchased
Margin 25%
Rate Of Interest 8.25 % p.a **
Repayment Maximum 120 Months
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. If Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
  3. Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
  4. Title Deeds of the property offered as security.
  5. Copy of Professional Qualification Certificate.
COD Limit
Who can Borrow Small Traders/Businessmen/Professionals/Self Employed Persons/individuals
Purpose To meet working capital requirement
Limit Rs.50,000/- upto Rs.10,00,000/- [Maximum]
Security Pledge of Gold Jewellery with fineness of 22 ct. to 24 ct.
Margin 25 % of assessed value of Gold OR 20% of sales/income turnover whichever is lower, subject to maximum of Rs.10.00 Lacs.
Rate of Interest 8.75 % p.a
Repayment Annual review
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
  3. Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
  4. Commercial Activity Proof/ License/registration etc.
ODCC Limit
Who can Borrow Proprietorship concern/Partnership firm/ Limited Liability Partnership/Private Limited company
Purpose To meet working capital requirement
Limit 20 % of the sales\turnover \projected turnover OR 60% of the Value of the property offered as security whichever is low.
Prime Security Immovable property such as flat/shop/Industrial Gala /NA Land /land along with House/Row house/Land along with factory premises etc.
Margin 40 %
Rate of Interest 10.00% p.a.**
Repayment Annual review
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC related documents of the Borrower /Partners/ Directors & Guarantors .
  2. ITR along with Audited financial statements for last 3 years of the firm as well as individual capacity of the partners/directors for the last 3 years, along with Business account statement for last two years.
  3. Title Deeds of the property offered as security.
Cash Credit Limit
Who can Borrow Proprietorship concern/Partnership firm/ Limited Liability Partnership/Private Limited company
Purpose To meet Working Capital requirement
Limit 20 % of the Sales\Account turnover /Projected Sales Turnover OR 75% of the Value of the property offered as security whichever is low.
Prime Security Paid Stock & Bookdebts upto 90 days old only.
Collateral Security
  1. Immovable property such as Flat/Shop/Industrial Gala /Land along with House /Row House/Land along with Factory premises etc.
  2. Assignment of LIC policies/NSCs (having substantial surrender value).
  3. Pledge of our bank’s Term Deposit Receipts.
Margin For Stock-25%, For Bookdebts-40%
Rate of Interest 10.00% p.a**
Repayment Annual review
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of the Firm, Co /proprietor/partners/ directors, also in their personal capacity.
  2. ITR along with Audited financial statements for last 3 years of the Borrower Firm/Co as well as Proprietor/Partners/Directors for the last 3 years, along with business account statement for the last 2 years.
  3. Title Deeds of the property offered as Collateral Security.
  4. Surrender value statement of LIC policies to be assigned /NSCs.
Cash Credit Working Capital Limit

Who can Borrow

Proprietorship concern/Partnership firm/ Limited Liability Partnership/Private Limited company

Purpose

To meet Working Capital requirement

Eligibility

  1. CIBIL score of 700 and above. 

 

  1. Field Verification mandatory and Branch Manager.

  2. Banking with BCCB for a minimum period of 1 year.

Limit

Max Limit= Rs. 25.00 lacs

Security

  1. Stock statement = Stock + book debt. [Availability of Drawing Power]

  2. RD of 1% of the sanction limit under lien or Assignment of LIC Policy for loan amount sanction.

Margin

NIL

Rate of Interest

11.50% 

Processing Fees

As per service charge circular

Basic Documents

  1. KYC documents of the Firm, Co /proprietor/partners/ directors, also in their personal capacity.

  2. ITR along with Audited financial statements for last 3 years of the Borrower Firm/Co as well as Proprietor/Partners/Directors for the last 3 years, along with business account statement for the last 2 years.

  3. Surrender value statement of LIC policies to be assigned /NSCs.

Renewal

Yearly
BCCB Assist WCTL

Who can Borrow

Proprietorship concern/Partnership firm/ Limited Liability Partnership/Private Limited company

Purpose

To meet the temporary liquidity mismatch arising due to  COVID 19 Pandemic.

Eligibility

Existing borrowers already enjoying Working Capital limits with our bank.

Validity of scheme

Scheme will be in force upto 31.03.2022

Limit

Borrower can avail loan of Maximum upto Rs.150.00 Lacs as follows : 

 

  • For borrowers having total exposure upto Rs. 3.00 crores – 10% of total exposure

 

  • For borrowers having total exposure above Rs. 3.00 crores – 10% of total exposure OR Rs. 150.00 lacs, whichever is lower.

[The said facility will be considered as fund based exposure. All the RBI guidelines on Prudential norms shall be applicable.]

Security

Extension of Banks charge on the Primary as well as Collateral Security : 

 

  1. Hypothecation of Paid Stock/Book debts 

(Residual Drawing power after providing for existing working capital limits)

OR

 

Hypothecation of Plant and Machinery 

(Residual WDV value after providing for existing limits)

 

  1. Stamp Undertaking/Mortgage of immovable property.

Margin

NIL

Rate of Interest

  9.50 % p.a [Fixed]. 

Moratorium

Principle moratorium for first 12 months. Interest charged to be serviced regularly during moratorium.

Repayment

24 months (12 EMIs).

Principle moratorium for first 12 months. Interest charged to be serviced regularly during moratorium. Thereafter repayment in 12 EMI’s

Processing Fees

>NIL

>Prepayment charges

>Not Applicable

>Documents other than basic documents

  1. >Sales /Purchase for the last financial year ended 31.03.2020.

  2. >Audited Financials for the financial year ended on 31.03.2019 along with ITR. 

  3. >GST paid challans for the last financial year [atleast  upto January’2020].

  4. >ITR along Financials of the partners/directors for the financial year ended on 31.03.2019. 

  5. >Request letter on firms letter head for the loan to be availed mentioning the specific requirement of the loan requested for [ e.g. Salary payments/administrative cost etc]. 

  6. Provisional financial statement (If can be provided).
Machinery Loan
Who can Borrow Individual/ Company/Firm
Purpose Commercial/ Second-hand Machinery
Limit 75 % of the Proforma Invoice /Quotation
Incase of Second Hand Machinery—50% of the Agreement between the vendor or 50% of the Valuation whichever is lower.  
Security Hypothecation of Machinery
Margin * 25%
* 50%of Valuation (in case of second hand Machinery)
Repayment * 60 months [Maximum :84 months]
Rate of Interest 8.75 % p.a. **
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. Income proof of the Borrower justifying repayment capacity. Incase of Business ITR along with Financial Statements for the last 3 years, Business account statement for the last one year.
  3. SSI Certificate
  4. Quotation from authorized dealer duly signed by both the parties.
Purchase of Shop Industrial Gala
Who can Borrow Individuals/Proprietary/Partnership firms/Private Limited Company/LLP.
Purpose Purchase of Commercial Premises
Limit 75% of (AV+ Stamp duty & Registration )
Security Immovable Property which is to be created from loan amount.
Margin 25%
Rate of Interest 8.75 % p.a **
Repayment Maximum 84 Months (Can be relaxed upto 120 month on case to case basis)
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
  3. Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
  4. Title Deeds of the property offered as security.