If you are a trader and require finances for your working capital requirements, the Varthaga Mitra Scheme is a perfect solution. It helps you deal with day-to-day expenses and allow you to carry on your business activities smoothly.
- A secured overdraft loan / short-term loan or combination of Overdraft and STL.
- All constituents including Individuals, Proprietary concerns, Partnership Firms, HUFs, Ltd COs, LLP, etc. are eligible.
- The facilities are for working capital requirements.
- The guarantor for the loan can be partners or title holders of the property.
- For trade borrowers to be eligible under the Varthaga Mitra Scheme, it is necessary for them to have been in business, carrying out business operations, for at least one year.
- Agricultural land will not be accepted as security.
|Loan Amount||Maximum of Rs. 500 Lakhs|
|Margin||Security Coverage of 167%.|
|Primary Security|| |
|Collateral Security||Hypothecation of stock-in-trade and book debts.|