What are the criteria for sanction of loan?
Corporation sanctions loans to industrial units, service sector units like nursing homes, commercial complexes, hotels, motels, road laying equipment, transport operators, excavators, tourist transport vehicles etc. The Corporation considers loans at 75% on the assets such as land, buildings and machinery subject to DER norms i.e., 3:1 for the projects up to Rs. 10.00 lakhs and 2:1 for project cost above Rs. 10.00 lakhs and for loan amount upto Rs 500 lakhs. The applicant shall offer collateral security ranging from 25% to 150% of the loan amount depending upon the type of the schemes and as guided by the lending policy.
