Business Working Capital Loans Facility

Nithyashree co-op offers Business Loans at affordable interest rates.
The scheme aims at providing financial support for the working capital needs of the small Entrepreneurs. Loans upto 50 Lakh
Eligibility Criteria :
Working Capital loan.

• The applicant should be regular member of Society.
• Applicant should have Society relation with our Society.
• The applicant shall be engaged with trading/ industrial/ Service activity with valid Licenses.

Type of facility : Operative Overdraft facility /Term loan with cheque book.

Security (Prime) :

• In the form of immovable constructed property in Corporation Limits: if outside Corporation limit- TP Plan & Collector NA is required. The property shall be self occupied.
• Any other assignable security such as NSC, LIC, Shares, FDRs etc in support of the above 1.

Security (Collateral): Stock & Debtors will be collateral security, only initial stock/debtors statement will have to be submitted.

Important points for security :

Nature of account: Existing Society relation are not necessary . However customer is required to open and operate Savings/Current Account.

• The property shall have clear & marketable title & sale-ability.
• Valuation Report of the Panel Valuer to be considered.
• The property shall not be older than 25 years.
• The property will have to be mortgaged with registered mortgage.

Period : On demand or 5 years; Renewable with necessary documents.
Rate of Interest : At present @18.5% p.a. Interest rates are subject to change from time to time.
Please contact us for more details 9008436222