IDBI Loan for Services Sector (ILSS) can be extended to all kind of business enterprises, self-employed and professionals, engaged in providing or rendering service.
Some examples of the service sector enterprises and professionals are
a. Professionals such as: Chartered Accountants, Company Secretaries, Engineers, Architects, Surveyors, Interior designers, Management Consultants etc.
b. Self-employed/service enterprises such as: Contractors, Travel Agents & Tour Operators, Clearing & forwarding agents, Beauty parlors etc.
Sr. No. |
Field |
Content |
1 |
Eligible Segments |
All kind of business enterprises, self-employed and professionals, engaged in providing or rendering service. |
2 |
Facility |
Term loan & Overdraft/ Cash Credit |
3 |
Purpose |
- OD/CC: To meet Working Capital requirements
- Term Loan: For Purchase of business premises, equipment, computers, furnitures, undertaking development/expansion/additions/repairs and renovation of business premises and infrastructure.
|
4 |
Loan Amount |
- Minimum: Above Rs. 10 lakh
- Maximum: Rs. 500 lakh
|
5 |
Tenor |
- Term Loan: Max 7 years
- CC/OD: Max 12 months (Annual renewal)
|
6 |
Pricing |
Linked to banks Repo Linked Lending Rate (RLLR) and Rating |
7 |
Security |
- Term Loan: Exclusive Charge on assets created out of bank finance.
- Working Capital: Hypothecation of stock, book debts and assets created out of bank finance.
- Collateral: Mortgage of residential/commercial properties of appropriate value.
|
8 |
Guarantee |
Personal guarantee of the promoter directors, Partners |
9 |
Margin |
Cash Credit : 25% on stock and Book debts
Overdraft : NIL
Term loan : 25 % |
10 |
Processing Charges |
As per Extant applicable Schedule of Charges. |
|
