 |
| | | SCHEME
FOR ASSISTANCE FOR PHARMACIES | |
| |
|
ELIGIBILITY
| .
| Projects
: New/existing pharmacies promoted by persons with pharmacy qualification, either
a Diploma or a degree as prescribed in the notification for setting up a
pharmacy and amendments made from time to time by the Drugs controller. Project
costing upto Rs. 25.00 lakhs. | | .
| Promoters
: Should be a holder of Degree or Diploma in pharmacy recognised by the
government of Kerala as prescribed in the notification for setting up pharmacy
subject to amendments made from time to time in it. All the normal stipulations
for starting medical stores would also apply. | | .
| End
use : Only for erection of fixed assets. This will include cost of land, building
and equipments. | | .
|
Working
Capital : The applicant should give documentary evidence on the availability
of adequate working capital funds from commercial bank of his choice
before disbursement of any portion of loan amount. |
MAXIMUM
LOAN AMOUNT
| . | For
projects costing upto Rs. 10.00 lakhs : 75 per cent of the estimated project
cost. | | . | Projects
costing above Rs. 10.00 lakhs and upto Rs. 25.00 lakhs : Two third of the
estimated project cost . | | . |
Margin
on security : Minimum margin shall be 15% of acceptable
principle security assets. |
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 Rs.25.00 lakhs : One-third
of the estimated project cost. |
MAXIMUM
REPAYMENT PERIOD
.
Upto 8 1/2 yrs. including a maximum gestation period of
1 1/2 yrs. for starting the repayment of principal amount.
SECURITY
FOR THE LOAN
| . |
Primary
security : The fixed assets both existing and that acquired with the
loan, like land, building equipment, etc. |
| . |
Collateral
cover : As per Norms |
| . | 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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