Business Loans India | Commercial Loans | Small Business Loans | Business Overdraft | Loan For Entrepreneurs | Loan For Self Employed

Small Business Loans you can minimise your financial difficultly. Though, commercial institutions cite risk factors as their main reason for turning down small loans for business request for startup businesses. Yet, you can get such loans for your business by proper preparation.

Such loans can be obtained through secured and unsecured mode. For secured loan collateral pledging keeps a prime condition. If you are looking through the mode of action, you will able to get a good sum of money. Only the problem some of the time happens to be the borrower’s insecurity to his security. The roof over his head is at risk if borrower ever struggles to meet his repayment. To get away from such problematic situation is an easy task. You are given an option of unsecured form of borrowing. Upon availing such provision, you need not arrange any collateral of yours as of security for the loan.

Baroda Trader Loan from Bank of Baroda
The Baroda Traders Loan facility enables individuals, Proprietorships, bodies such as Partnership firms and Co-op societies to avail of working capital or undertake development of shop by way of loan/overdraft. Dealers in gold/ silver jewelry are also covered under the scheme.

Key Benefits

* Option to avail the credit facility as loan or overdraft.
* Advance available up to Rs. 200 Lacs.
* Loan can be repaid in a maximum period of 60 months.

Terms & Conditions
* The business units should have been established in the line of business for a minimum period of 2 years
* Loan limits

Minimum : Rs. 25,000/-
Maximum : Rs. 200 Lakhs

* Margin
40% on market value of immovable property.
10% on Bank’s own Fixed Deposits.
15% on face value of NSCs, Govt. Bonds, surrender value of LIC policies.

* Security
Tangible collateral Securities in the form of mortgage of land (not agricultural land) and building is acceptable as security

National Savings Certificates, Government Bonds, our Bank’s Term Deposits, Assignment of Life Insurance Policies, standing in the name of the borrower/proprietor/partner/director are acceptable as security.

Interest rates applicable for domestic credit (Commercial & Institutional Advances) :
Benchmark Prime Lending Rate (BPLR) Rate (per annum) w.e.f. April 5, 2007
13.25 %

Sources : http://www.bankofbaroda.com