Finance will be extended to only new vehicles. Second hand and refurbished vehicles are not eligible for finance under the scheme.
Range of loan amount – Rs.50 lakh to Rs. 1 crore per caravan, total limit is 5 crore per enterprise.
Maximum finance from KSIDC per caravan – Limited to 70 % of the cost of caravan. Promoters have to bring in the balance 30 %
Target group
Interest rate- Presently 8.75% (floating), with 0.5 % interest rebate for prompt repayment. |
Processing fee – Rs. 1,00,000/- plus GST |
Upfront fee: 0.75% of the loan amount plus GST |
Repayment period – 84 monthly installments |
Repayment period – 84 monthly installments |
Moratorium – 12 months, extendable by another 6 months, from the date of first disbursement. |
In the case of existing clients, for considering loan under this scheme, they shall have good repayment track record with KSIDC, and also be a standard asset. Regarding new clients, there shall be no overdues to financial institutions/banks, the asset shall be standard, and the CIBIL score of all the promoters/directors/partners shall be more than 650.
Overall DER of the enterprise, including this caravan loan proposed shall not exceed 1.5:1 However, if more loan is required, DE ratio up to 2:1 may be considered with collateral for funding the excess amount.
The disposal of bio-waste, passenger security aspects shall be ensured before sanctioning any proposals.
Police character certificates shall be obtained for all staff involved.
Where these caravan parks are established in environmentally sensitive/ heritage sites, there shall be lower dependence on fossil fuels for fuel and lights.
Security for the loan
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