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ELIGIBILITY
| . | Project
: Supply of food to the mobile tourist traffic or at places having commercial
importance through mobile catering facilities/canteen as well as for regular catering
facilities including flight kitchen facilities. Project costing upto Rs. 25.00
lakhs . | | . | Promoters
: Should have experience in the field of catering services. |
| . | End
users : For acquisition of the commercial vehicle, utensils,kitchen equipments
etc. | | . |
Vehicle
: The vehicle should have fitness certificate, suitable to carry/
display of the facilities. |
MAXIMUM
LOAN AMOUNT
| . | For
projects costing upto Rs. 10.00 lakhs : 75 per cent of the estimated project
cost. | | . | For
projects costing above Rs. 10.00 lakhs and upto Rs. 25.00 lakhs : Two third
of the estimated cost. | | . | Margin
on security : Minimum margin shall be 15%. |
MINIMUM
PROMOTERS CONTRIBUTION
| . | For
projects costing upto Rs. 10 .00 lakhs : 25 per cent of the estimated project
cost. | | . | For
projects costing above Rs. 10.00 lakhs and upto 25.00 lakhs: One-third of
the estimated project cost. |
MAXIMUM
REPAYMENT PERIOD
Upto 66 months including
a maximum gestation period of 3 months for starting the repayment of principal
amount. SECURITY
FOR THE LOAN
| . | Primary
security : Assets proposed to be acquired with the loan.The vehicle should be
mortgaged to the Corporation. | | . |
Collateral
cover : 100% of the amount of term loan. |
| . | Personal
guarantee : Of all promoters, shareholders having more than 5 per cent share in
the equity and co-obligants. (if any) | All
the standard terms prescribed for sanction by the Corporation would also be applicable.
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