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Whether you are starting out in a new small business, or have an already established business, it is essential to have a solid foundation. Having a general understanding of business loans, along with marketing, business planning etc, will be a definite bonus, and help with the running of your business. However, managing your finances would be one of the most important tasks when running a business.

There are a number of different types of business loans that are available on the market that you can apply for. Start-up Financing, Business Growth Financing, Inventory Financing, Motor Vehicle Financing, Equipment and Plant Tools Financing, Business Property Financing and Trade Financing just to name a few.

All major banks fund these particular loans. When are in the process of shopping around for the best interest rate, always remember that all banks are open for negotiation, even if they say they are not. They do not want to see potential customers walk out the door and do business with an opposition bank. This is a great draw card to have in your pocket.

“ARTISANS CREDIT CARD” SCHEME From State Bank of Bikaner and Jaipur

PURPOSE

To provide adequate and timely credit facility to small and tiny units of artisans for their investment as well as working capital needs.

ELIGIBILITY
Artisans, not benefited under other Govt. loan schemes, involved in production / manufacturing.

Thrust on clusters of Artisans and SHGs.
Preference to Artisans registered with Development Commissioner (Handicraft).
Existing Artisan borrowers enjoying credit facility upto Rs.2 lac and having satisfactory dealings with the Bank also eligible.

NATURE OF LIMIT
Term Loan and Cash Credit.

AMOUNT OF LOAN
Maximum Rs.2.00 lac

VALIDITY
Part of the limit used for purchase of tools and equipments payable in three years. Remaining amount to be paid as a revolving cash credit limit, should be reviewed every year.

MARGIN
Upto Rs.25000/ – - Nil.
Over Rs.25000/ – - 20%.

Fixation of Credit Limit

Term Loan – Need-based.
Working Capital – Minimum 20% of anticipated turnover.(Nayak Committee)
 
PRIMARY SECURITY
Hypothecation of assets financed by Bank.
 
COLLATERAL SECURITY
Nil.

Sources : http://sbbjbank.com/