IDBI Loan for Service Sector
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.
All kind of business enterprises, self-employed and professionals, engaged in providing or rendering service.
Term loan & Overdraft/ Cash Credit
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.
Minimum: Above Rs. 10 lakh
Maximum: Rs. 500 lakh
Term Loan: Max 7 years
CC/OD: Max 12 months (Annual renewal)
Linked to banks Repo Linked Lending Rate (RLLR) and Rating
Exclusive Charge on assets created out of bank finance.
Hypothecation of stock, book debts and assets created out of bank finance.
Mortgage of residential/commercial properties of appropriate value.
Personal guarantee of the promoter directors, Partners
Cash Credit : 25% on stock and Book debts
Overdraft : NIL
Term loan : 25 %
As per Extant applicable Schedule of Charges.