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

For running a business whether it is small or large, finance is a must. In that case, if you are running your own small business and are in need of a sponsor then can go for the small business loans without any hesitation. The Small Business Loans are designed specifically for helping one in each step of his/her venture.

Based on your requirements and situation you can go for any form of small business loans, namely secured and unsecured. Secured small business loans are good to go for if you want a large amount and also want some time to repay the loan. The rate of interest in these loans is lower along with a longer repayment term.

PNB PRAGATI UDYAMI

(Scheme for financing SSI related Services / Business Enterprises)

The financial assistance to both new and existing units, for acquiring fixed assets i.e. land, factory, building, plants, machinery and working capital facilities for Service industry like Advertising Agencies, Marketing / Industry Consultancy, Typing / Xerox Centre, Industrial Testing Labs, Cyber Café, Auto-repair, Laundry & Dry Cleaning, ISD / STD Booths, Cable TV Networks, Beauty Parlour and Creche, etc.

ELIGIBILITY

Unit with investment in fixed assets excluding the cost of land and building not exceeding Rs 10 lakh , irrespective of location of the unit.

NATURE OF LIMIT

Need based.

(Composite loans upto Rs 100 lakh)

MARGIN
(For Term Loan)
(i)Upto Rs 25000/-     Nil
(ii)Above Rs 25000/- Upto Rs 5 lakh 15%
(iii)Above Rs 5 lakh     20%
(iv)For old machinery minimum life of 5 years. In case of old Gen-set it would not be older than 3 years     25%

(For Working Capital)
(v)     CC(P) & CC(H) upto Rs 25000/-     Nil
(vi)     CC(P) Above Rs 25000/-     15%
(vii)     CC(H) Above Rs 25000/- upto Rs 5 lakh     15%
(viii)     CC(H) Above Rs 5 lakh     20%
(ix)     Against Book Debts upto Rs 5 lakh     20%
(x)     Above Rs 5 lakh     25%

*FOR WOMEN BENEFICIARIES 10% wherever the margin requirement is more than 10%.

REPAYMENT
5 to 7 years (for term loan) excluding moratorium period depending upon the earning capacity of the unit.

COLLATERAL SECURITY
No collateral security for loans upto Rs 5 lakh. For loans in excess of Rs 5 lakh and upto Rs 25 lakh no collateral security required, if the unit is having good track record & financial position. In other cases collateral security or third party guarantee is asked only in cases where primary security is inadequate or for other valid reasons and not as a matter of routine. No Collateral Security & third party guarantee for Loans upto Rs 25 lakh covered under Credit Guarantee Fund Trust for small industries Scheme (CGTSI).

Sources : www.pnbindia.com