Contractors OD

Attractive Interest Rates

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Over Draft Facility for contractors

Micro, Small and Medium Enterprises (MSMEs) is the backbone of economic growth. Kerala Grameena Bank provides loans to cater various business needs of Contractors / Sub- Contractors under MSME segment.

Purpose

To provide working Capital Finance for Civil, Mining and Construction Contractors and sub-contractors.
To provide Working capital, both Fund Based and Non - Fund Based in form of running limit for working capital needs.

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Eligibility

Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub- contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
Borrower Should be Creditworthy and should have satisfactory dealings with the Bank
For new units, the market reputation of promoter should be satisfactory and he/she must be able to produce valid proof of business and size of turnover,in order to estimate the eligible limit
The party must agree for the periodical inspection of the books of accounts maintained by him, by the branch officials and / or by the inspecting officials of the Bank as and when required.

Limit

Loans will be considered for Rs.10 lakh and upto a Maximum of Rs. 3 Crores.
Need based finance on credit assessment or nine times of the Tangible Net worth (TNW) whichever is lower

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Margin

A margin of 10% needs to be invested by the borrower.

Security

Needs to be backed by Collateral security of Immovableproperty
The value of Collateral security should not be less than 150% of the working capital limit.

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