IB Star Agro Mills (Rice Mill, Dhal Mill, Oil Mill and Flour Mill)
IB Star Agro Mills (Rice Mill, Dhal Mill, Oil Mill and Flour Mill)
Target Group:
- All new / existing Rice Mills, Dhal Mills, Oil Mills and Flour Mills.
Objective:
- Acquisition of new machinery / factory building / modernization and Working capital needs.
Eligibility:
- For New Units: Satisfactory promoters’ track record, group affiliation and viable project for new units.
- For Existing Units: Consistent Net profit making units for a minimum period of two years.
Type of Facility:
- Term Loan.
- Cash Credit.
Quantum of finance:
- Based on Project cost.
Margin Norms:
Term Loan: 25% for new machinery and 30% for landed property and building
Working capital:
- Stocks of goods
- For Limits less than Rs. 1 Crore – 20%
- For Limits Rs. 1 Crore & above – 25%
- Book Debts – 25% (upto 90 days duration) NFB Margin – as per norms.
Repayment Period:
- Term Loans – Upto 7 Years with maximum holiday period of 12 months.
- Working capital: One year with yearly renewal.
Processing Charges:
- As per circular on service charges related to Agri advances issued from time to time.
Rate of Interest:
- Please refer the Lending Rates link on home page in our Bank’s Website www.indianbank.bank.in.
Credit Guarantee:
- Credit guarantee coverage will be available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme
Security Norms:
- Primary: Hypothecation of stocks / book debts / machineries / EM of factory land & building / charge on assets created out of Bank finance.
- Collateral: Limit up to Rs. 20 Lakhs - Nil.
Limit above Rs. 20 Lakhs -Collateral Security by way of EM of immovable properties in the form of Residential/ Commercial / Industrial Land & Building (Realizable value)/ liquid security etc - CGTMSE coverage available.
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