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CENT - CONTRACTOR

Target Group:

Civil Contractors/ Construction Contractor
Sub Contractors executing works on behalf of main contractors who have been allotted works by Main Contractors

Objectives:

To provide financial support to contractors of good reputation engaged in works on Behalf of Central Government Department/ State Government Department/PWD/ Public Sector undertakings/ and reputed Private Sector Organizations having category of B+ rating and above.

Facility:

Pre Construction Stage:CC,OD, TL, BG, DPG and Bid Bond Guarantee.
Construction Stage and Post Construction Stage:Cash Credit/Overdraft for Bills limit for purchase/discounting of the accepted bills, Bank Guarantee limits for release of retention money.

Maximum Loan: Rs.5 crore

Assessment of Finance:

On the basis of Projected Cash flow for the entire repayment period.

Repayment:

12 months in case of CC/OD and Maximum 5 years in case of TL

Interest:

Up to Rs.10 lac @ MCLR+0.50%, Above Rs.10 lac Up to Rs.1 crore @ MCLR+1.00 and above Rs.1 crore ( Rating CBI-1 to CBI-4 @ MCLR+2.00% and CBI-5 and above @ CBI+2.50% to CBI+4.00%)

Processing Charge:

1.00% of loan amount with maximum Rs.2,00,000/-

Primary Security:

Hypothecation of all types of Construction Raw Materials/ Plant & Machinery and consumable stores. Hypothecation of Book Debts. However, DP should be allowed against receivables not older than 90 days.

Collateral Security:

Up to Rs.1.00 crore: Equitable mortgage of immovable property having 100% of the limit sanctioned. (FB+NFB) OR CGTMSE coverage where no collateral or third party Guarantee is to be taken
Above Rs.1 crore and up to Rs.5 crore: Equitable Mortgage of immovable property having market value not less than 150% of limit sanctioned (FB+NFB).

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