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THE BHUJ MERCANTILE CO OP BANK LIMITED
Purely Banking

CASH CREDIT/S.O.D./TL

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CASH CREDIT / S.O.D.

Purpose Cash Credit Loans for the purpose of meeting the working capital requirements of business
Eligibility Companies / Firms/ Proprietorship / Professionals
Limit of loan

Depending upon repayment capacity and cost of project

Margin: 25% of Stock, 75% of Book Debts / Receivables, 90% of Nsc/KVP/LIC Surrender Value. In any other case, as applicable.
Basis of Advance Based on the Assessment of Credit-Worthiness of the Borrowers and Guarantors.
Repayment Period Yearly renewal basis, As per Administrative Convenience.
Rate of Interest

11% to 15% ROI

(Subject to CRR System)
Processing fees As per policy of the Bank from time to time
Shareholding/Membership Contribution As per Bank's Norms
Security Collateral Security of Valued at Minimun 100% of the Loan amount Exposure.
Guarantors Minimum One guarantors as acceptable to the Bank.(with Acceptable net worth)
Documentation BMCB Checklist for Loan
  Loan Application Form
  3 Sets of KYC of Proprietor / All Partners / All Directors with Originals for Banker Signature
  GST Registration Certificate
  Any one Government Certificate of Business apart from above i.e. S&Eact, Sales Tax, Service Tax, etc
  ITR, SOI, BS, PL, Auditor Report, if any singed by Borrower and Verified by CA Certified for last 3 years
  Net Worth Statement of Borrower Certified By CA
  MPBF Calculation Sheet
  CMA Data / Projection Report Signed by applicant.
  CIBIL Report
  Application for Membership with Share Certificate as per Internal Norms
  Insurance of Stock and Book Debts with banker lien on it
  All Bank Statement with last 6 months
  Valuation Report
  Title Clearance Certificate
  Collateral Property Sale Deed & related documents (Society share certi, NOC, allotment & Possesions letter, BU permission)
  Municipal Tax Bill of Applicant property
  In case of takeover. NOC from prev. Banker
  stock / Book Debts statement as on..
  Guarantor Documents
  3 Sets of KYC of Guarantors with Originals for Banker Signature
  ITR, SOI, BS, PL, Auditor Report, if any singed by Guarantor and Verified by CA Certified for last 3 years
  Net Worth Statement of Guarantor Certified By CA
  Whether Total Net Worth of Borrowers & guarantors is > 100% of loan Proposed?
  CIBIL Report of the Firm / Company
  CIBIL Report of all Concerned Persons
  Application for Membership with Share Certificate as per Internal Norms
  Municipal Tax Bill of Guarantor property

 

 

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