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Construction and supply business Loan
Financial support or Letter of guarantee to Individuals or business enterprises (other than public limited company) engaged in construction, supply or tender related business to meet up their work order or working capital finance in the form of secured overdraft or other loan format.
Basic Information
|
Target Customer |
Loan Limit |
Tenor |
Interest Rate |
Individual Contractor
Supplier
Tender related Businessman |
Credit max up to 35% – 40% of net work order value. 90% OD of security.
(may differ from bank to bank) |
3 months to 12 months
(may differ from bank to bank) |
15% to 17% yearly or in terms of OD interest charge will be only on utilized amount.
(may differ from bank to bank & revised from time to time) |
Eligibility
- Having two years of related business experience
- Having valid contractor or supply license
- Monthly cash flow support to proposed loan repayment
- Relevant pre-requisites to be fulfilled as desired by the bank from time to time
List of some banks which have Construction and supply Business loan product
|
Bank Name |
Product Name |
| IFIC Bank Ltd. |
Contractor’s Loan |
| IFIC Bank Ltd. |
Bidder’s Loan |
Required Documents
- Passport size photograph of loan applicant
- Trade license
- TIN certificate
- VAT certificate (if applicable)
- Electricity Bill
- Telephone Bill
- List and total price of fixed asset
- List of creditors
- List of debtors
- Names of employees, salary, post and monthly salary sheet
- Last 1-3 years bank statement
- One year sales report and profit & loss account of the business
- Completed CIB form
- Current customers/clients list
- Photocopy of partnership deed registered with registrar of firm duly attested by notary public (for partnership firm)
- Photocopy of registration certificate duly attested by Notary Public in case of registered firm (for partnership firm)
- Letter of partnership duly signed by all the partners, in case of non-registered firm (for partnership firm)
- Resolution signed by all the partners to open the A/C (for partnership firm)
- Other documents as per bank requirement & nature of business
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