Target Group
Owners of restaurants/ fast food chains
Eligibility
Individuals/ partnership firms/ corporate
Quantum of loan/limit
- For purchase of Kitchen equipments
- For investment in Interior decoration
- For purchase of furniture and fixture
- For purchase of land and construction of buildings
- For meeting running expenses.
Type of facilities
Term Loan or overdraft
Quantum of Finance
- Term Loan: Depending upon project cost subject to a maximum of Rs.1 crore
- OD : Rs 5 lac
Rate of Interest
As applicable to MSE units
Security
- Primary - Hypothecation of the assets financed by the Bank.
- Collateral- Personal guarantees of proprietors/partners/promoters, Extension of charge over current assets, Fixed assets and other existing collateral if any, Additional tangible security such as immovable property, bank deposits, etc.
Loans upto Rs.10 lacs are to be covered under CGTMSE scheme and hence no collateral / third party guarantee required. However, loans above Rs.10 lac upto Rs.1 crore may be covered under CGTMSE at the discretion of the Bank. CGTMSE fees to be borne by the borrower for loan above Rs.5 lac.
Loans upto Rs.10 lacs are to be covered under CGTMSE scheme and hence no collateral / third party guarantee required. However, loans above Rs.10 lac upto Rs.1 crore may be covered under CGTMSE at the discretion of the Bank. CGTMSE fees to be borne by the borrower for loan above Rs.5 lac.
