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SVC-Traders
Avail Cash Credit / Overdraft / Term Loan
| Facility | Cash Credit / Overdraft / Term Loan |
| Loan limit | Minimum INR 10 Lakhs to maximum INR 200 Lakhs |
| Purpose | Working capital or purchase of commercial property or business development by way of renovation / expansion, etc. |
| Primary Security | Cash Credit: Hypothecation of stock and book debts |
| Overdraft / Term Loan: Equitable/ Registered mortgage of property, preferably owned by the applicant / partner/s/ promoters / family members | |
| Collateral security | CC: Minimum 60% of the limit. Personal guarantee of partners / promoters / directors / property owners is a must |
| Overdraft / Term Loan: NIL. Personal guarantee of partners / promoters / directors / property owners is a must | |
| Margin | Cash Credit: 25% against stock (net of creditors) and book debts (up to 90 days) |
| Overdraft / Term Loan: 25% of the Agreement Value / Market Value of the property | |
| Repayment period | Cash Credit / Overdraft: Annual Renewal is necessary |
| Term Loan: Maximum 60 months. Annual Review is necessary | |
| Eligibility | Individuals, Proprietary Firms, Registered Partnership Firms, Pvt. Ltd., Ltd. Companies, LLP. |
| The business unit should have been established in the line of business for a minimum period of 5 years and should have been making profit for the last 3 years | |
| The premises, where the business is carried out, should be owned by the promoters / family members | |
| The area of proponent’s / borrower’s operations should be within a radius of 5 kilometres from SVC Bank Branch | |
| Rate of interest | As applicable from time to time |
| Membership | Borrower/s to become regular member/s by way of share linkage. Guarantor/s to become nominal member/s |
| Guarantors | 2 guarantors |
| *Conditions Apply |
