Requirements for Loan

Here is a list of various requirements for availing the loans in different categories:-

PROMOTER

  1. Bio-data of Proprietor/Partner/Directors together with certificates in support of experience, age and qualification.
  2. Statement of Assets & Liabilities of Promoter/Partners/Directors.
  3. Statement of Affairs Balance Sheet with profit and loss account of associated concerns for the last three years.
  4. Two photographs of promoter/Partners/Directors duly attested by a gazetted officer.
  5. Income Tax clearance certificate on a recent date.

CONSTITUTION OF COMPANIES
Copy of Partnership deed in case of Firm.
Articles of Association & Certificate of Incorporation in case of Pvt. Ltd. Companies.
PROJECT
Copy of Provisional Registration in case of SSI units.
Permission from Tourism Deptt. In case of Hotels/Houseboats repute like J&KITCO/SISI,etc.
LAND
Documents in case land is owned indicating the ownership of land.
Allotment letter of land from DIC,SICOP, SIDCO as the case may be .
Lease deed of land for a minimum period of 20 years.
Gift deed or Agreement to sell.
SITE DEVELOPMENT
Detailed estimates of leveling of land, raising of boundary wall, fixing of gates, etc. duly certified by an Engineer.
FACTORY BUILDING
Detailed estimates and plan of Factory Building Certified by an Engineer.
Permission from Municipal Committee/Town Area Committee/ Notified Area Committee/Development Agency./SICOP/SIDCO etc. as per the requirement.
Plan and Estimate in respect of Hotels/Houseboats prepared by an Architect and duly approved by Tourism Deptt.
PLANT AND MACHINERY
2 or 3 quotations in respect of each item of machinery from the reputed supplier together with the illustrated literature indicating specification, capacity, guarantee etc.
In case Plant and Machinery is envisaged to be acquired on turnkey basis necessary agreement entered into to be submitted.
In case Plant and Machinery is to be fabricated locally, details whereof are to be given indicating the advantages.
Quotations of tools spare parts, etc. to be furnished.
Technical know how fee, if any, to be indicated together with the agreement copy.

MISC. FIXED ASSETS
2 or 3 quotations in respect of each item of misc. fixed assets like Laboratory Equipment, Vehicles, Fixture, Furniture, Sanitary Equipment, Kitchen equipment, Air Conditioning etc.
Provision for Distribution of Power, cabling etc.
Sanction letter of power from PDD Deptt.
Sanction letter of water from PHE Deptt.
NOC from Pollution Control Board.
NOC from various financial institutions located in the area
NOC from all the branches of SFC that the borrower has not raised loan from them.
Income Tax clearance Clearance certificate in respect of Promoter/ Companies s the case may be.
Letter from the Bank that necessary working capital will be provided to the unit.
Indicate the Source of Investment in the Project.
Details about:
Raw Material Quantity, cost and source.
Market of the products, its demand and supply position
Selling arrangements
Process of Manufacturing
Particulars of the Collateral Security being offered for raising the loan.

TERMS AND CONDITIONS GOVERNING SANCTION OF LOAN

The sanction of loan granted by the competent authority shall be conveyed by the concerned branch to the borrower through Memorandum of terms and conditions governing the sanction of loan in triplicate within one week from the date of receipt of communication of such sanction

The borrower/ s while apprising about the sanction of loan shall be advised to return two copies of Memorandum of terms and conditions governing sanction of loan duly signed on every page along with(resolution passed for un-conditional acceptance by the private/public limited company,co-operative ,societies, society registered under any law) and legal fee of Rs. 1500/- for deferring the title verification fee etc