Are you a thriving business owner in need of financial support to take your enterprise to the next level? Look no further than Uttar Bihar Gramin Bank‘s Business Loan program. We understand the aspirations of entrepreneurs like you and are here to help you succeed. Let’s dive into the details:
Loan Purpose
Our Udyog Loan is designed specifically to provide financing for existing businesses. Whether you’re a trader, manufacturer (including agriculture), or processor (including food/fruit processing), we’ve got you covered. This loan is available for individuals, proprietorship firms, LLPs, and partnership firms (excluding those where HUF is a partner). To qualify, your unit should be registered under the MSMED Act, and GST registration is mandatory if not exempted.
Loan Amount
With Uttar Bihar Gramin Bank, you can access funds ranging from Rs. 10.00 Lakhs to an impressive Rs. 5 Crores. Whether you need a Cash Credit, Term Loan, or a combination of both, we’re flexible to meet your unique financial needs.
Margin Requirement
For Term Loans, we require a margin of 25%. This ensures that you have some skin in the game, promoting responsible borrowing and business growth.
Repayment Terms
We understand that managing your repayments is crucial. That’s why we offer a generous repayment period of 120 months for Term Loans. This extended term allows you to focus on growing your business without undue financial pressure.
Prepayment
Sometimes, unexpected windfalls or business success might prompt you to repay your loan early. The good news is that Uttar Bihar Gramin Bank charges no prepayment penalties. Pay off your loan ahead of schedule without any worries.
Competitive Interest Rate
At Uttar Bihar Gramin Bank, we offer a competitive interest rate of 9.50%. This rate is designed to be manageable for your business while helping you achieve your goals without breaking the bank.
With Uttar Bihar Gramin Bank’s Business Loan, you not only gain access to vital financial support but also a partner in your business’s success. Our casual and customer-friendly approach ensures that you can discuss your unique requirements with us, and we’ll tailor a solution that best fits your needs.
Don’t let financial constraints hold back your business growth. Reach out to Uttar Bihar Gramin Bank today and take the first step towards realizing your entrepreneurial dreams. Let’s build a prosperous future together.