Standard Islami Bank BABBOSHA SHOMMRIDDHI (SECURED - ABOVE BDT 5.00 LAC)
"Standard Islami Bank Babbosha Shommriddhi" is an SME Investment facility with collateral to augment the capital base for business expansion, purchase of new business space or expansion of existing outlets and capital machineries, and also to purchase light or heavy vehicles for business use.
Key Features
- Investment facility for business expansion, purchase of new business space or expansion of existing outlets and capital machineries, and also to purchase light or heavy vehicles for business use.
- Facility Type: Term Investment/Continuous Investment.
- Investment Ceiling: 70% of total cash requirement [100% in case of cash collateral (FDR)/encashable instrument].
- Investment Tenure:
- Maximum 36 months for Term Investment, and grace period may be allowed for a maximum of 6 months.
- Maximum 36 months for Continuous Investment.
- Nominal Profit Rate.
Eligibility
- Age: At least 21 years.
- Any Small and Medium sector enterprise (Proprietorship/Partnership/Private Limited Company) having the experience of successfully managing the business for at least 2 (two) years may apply for the Investment.
Required Documents
- Valid trade license.
- Special license/permission (if applicable) for business operation.
- Notarized partnership deed/registered by Sub-Register Officer (in case of partnership).
- Passport/National Voter ID/Ward Commissioner/UP Chairman certificate of the Proprietor/Partner/Directors.
- Photo of the Proprietor/Partners and Guarantors.
- Statement of all active bank Investments (if any).
- Last 12 months' bank statement of transactional account.
Security Arrangement
Primary Security
- Hypothecation of machineries, equipment, vehicles, and inventories.
- Personal guarantee of Proprietor/Partner/Directors and their spouse.
- 02 (two) 3rd-party Guarantors whose Net Worth must not be less than the proposed Investment amount/Investment limit.
- Lien of cash collateral (FDR) and other encashable financial instruments (if any).
Collateral
- Registered mortgage of property/ownership of the space/possession right purchased in Bank's name.