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03/11/2015 Equipment Finance Scheme and Business Expansion Loan Sobell Finance Limited
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Eligibility ConditionsThe financial assistance under this scheme is available to the existing profit-making companies for acquiring machinery & equipmentfor expansion/ modernization/ balancing/ diversification of business. The company should satisfy the following eligibility norms to becovered under the scheme.
1. The unit should be in operation for last three years and should be in profits and/ or declared dividend in the preceding twofinancial years.
2. The applicant company should not be in default with the Institutions/ Banks.
3. The proposed equipment should be separately identifiable
Securities for securing SFL Loan
1. The Term Loans extended by SFL are secured by way of mortgage of Primary Security (Financed Assets) and/ or CollateralSecurity (Land/ Building other than the Financed Assets). The quantum of Collateral Security depends on the risk perception/merit of the case.
2. Demand Promissory note.
3. Personal guarantees of Promoters/ Directors/ Partners/ Sole Proprietor/ owner of collateral Securities.
4. Post Dated Cheques.
Verification & valuation of SecuritiesThe SFL has a panel of Advocates/ Valuers for carrying out verification & valuation of securities. Further it is also to be cross checkedby the officers of by SFL.
Following details will be required in respect of securities to be mortgaged with SFL
1. Sale deed/ Conveyance deed of the proposed security.
2. Valuation report from an approved valuer (to be arranged by SFL).
3. Search report from an Advocate. (to be arranged by SFL).
4. Approved building plan in case of constructed property.
5. Site/ Location Plan of the Land/ Building, duly certified by the Revenue Department/ Map approving authorities.
6. Owner ship details of the Property & relationship of the owner with the Applicant Company / Firm / Partners / Sole Proprietor.
Equipment Finance Scheme (EFS)
Maximum AssistanceRepayment Period
Debt Equity Ratio (Maximum)Rate of Interest
Rs 100.00 Crore per proposal5 Years3:116 to 20% p.a. depending upon Risk Perception & Merit of thecase Interest will be charged, on monthly rest basis, on thereducing balance/ outstanding amount on the last date ofeach month.
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