Finance To Rice Millers /Seed Plants
To meet the financial needs of rice mill /seed plant units which have varying demands as per their cyclic and seasonal requirements working capital facility, adhoc limits and term loans have been designed to meet their specific needs
Purpose
- For working capital, adhoc limits and term loans for investment in plant and machinery, equipments etc to rice mill/seed palnt units
Who Can Borrow
- Commercial establishments (partnership firms/ pvt. Limited Co./limited cos./any other commercial organization etc) operating as rice mill units/seed plant units
Nature Of Facility Available
- Cash credit limit
- Adhoc limit
- Term loan
Loan Amount
- Maximum for single borrower Rs.2000 lacs
- Maximum for group borrower Rs. 5000 lacs
Repayment
- Cash credit limit- 12 months subject to renewal
- Adhoc limit- maximum 120 days (within the overall period of 12 months)
- Term loan- maximum 15 years
Rate Of Interest
- The rate of interest as decided by the bank from time to time.
Security
- Hypothecation of stock and book debts
- Equitable mortgage of property and other securities as per bank’s discretion
Guarantors
- Two Guarantors whose net worth is acceptable to the bank
Processing Charges
- 0.5 % of loan amount + GST
Share Holding
- 1.5% of the loan amount.