SCHEME NO. : 6
|
1. |
Name
of the Scheme |
FLEXI LOAN FOR HOTELS,
HOSPITALS & NURSING HOMES |
|
2. |
Purpose
of Loan |
Providing quick finance
with flexibility in utilization of loan to well established units in tourism
and health care sector for upgrading, face lifting, modernization,
renovation, additions, etc. at the existing facilities having investment in
civil works, land - scaping, interiors, furniture,
equipments, etc. |
|
3. |
Eligibility
Criteria |
Existing unit(s) having
good track record of performance and sound financial position, which; i. have been in operation for the last 3 years. ii. have
earned cash profits in the preceding 2 financial years. iii. not in default to
financial institutions/ banks in the repayment of their dues. iv. DSCR after the proposed
assistance is above 1.5:1. |
|
4. |
Loan
Limit |
Maximum of Rs. 1.00 crore subject to total
debt exposure in the unit including the amount of proposed assistance shall
not exceed the sum of prevailing reserve price of land and valuation of
building as per certified valuer. |
|
5. |
Security
Margin |
Minimum 25%. Loan upto 75% of the cost of modernization, upgradation, renovation, additions, etc. |
|
6. |
Promoters'
Contribution |
Minimum
25% |
|
7. |
Debt
Equity Ratio |
1: 1 (after availing the
loan) |
|
8. |
Interest
Rate |
Prevailing interest rate. |
|
9. |
Repayment
Period |
In 5 years in quarterly
installments including moratorium of 6-12 months depending upon repayment
capacity. |
|
10. |
Rebate
on Timely Payment |
As per prevailing policy -
2% wef 16.07.2009. |