A business loan for working capital / purchase of equipment / instruments will be provided to the self employed and professionals to meet their liquidity mismatches.

Eligibility :

• Self employed, professionals , proprietors of small business units, shops ,   small establishments, petty traders ,  SME units, etc. (other than street vendors, peddlers, etc.)
• Minimum business turnover Rs. 1,00,000/- per year
• Reasonable profit in past years
• The applicant should be above 18 years of age and below 65 years
• Loan amount Rs. 50,000/- to Rs. 1,00,000/-
• Repayment Equal weekly instalments of 50 weeks
• No pre-closure/pre payment  permitted before 6 months
• Pre closure / prepayment after 6 months will be permitted with a penalty of 5% of the pre paid principal amount or 8 Weekly instalments which ever is higher
• Security only third party guarantee of family members or persons of repute with sufficient income and acceptable to the society