Baroda Vidyasthali Loan

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Baroda Arogyadham Loan

Purpose

To meet the financial requirements for setting up of new Nursing Home/Hospital including Pathological Laboratory, Expansion/renovation/modernization of existing Nursing Home/ Hospital including Pathological Laboratory, Purchase of medical diagnostic equipments as also office equipments, viz. computers, air conditioners, office furniture, Purchase of ambulance etc and to meet working capital requirements.

Eligibility

All entities, i.e. MSMEs, Enterprises other than individuals like Proprietorship, Partnership firms, Private Limited Companies and Trusts engaged in providing medical/pathological diagnostic services to the Society and with turnover upto Rs. 150/- crores.

Note

The Promoters should have requisite qualification in any branch of medical science from a recognized University and should have minimum 2 years of work experience

Limit

  • Rural Centres - Rs. 0.50 crores
  • Semi-Urban Centres - Rs. 6.00 crores
  • Urban - Rs. 12.00 crores
  • Metro - Rs. 15.00 crores

Notes

  • Working Capital limits upto 10% of the annual sale or gross income, subject to 20% of the above ceiling limit in case of borrowers requiring both Term Loan and working capital facilities.
  • In case of borrowers requiring only working capital limit, 20% of the above ceiling limit.

Security

  • Equitable mortgage of Land & Building/premises of Nursing Home/Hospital
  • Hypothecation of medical equipment/office equipment acquired out of loan amount.
  • Personal guarantee of Promoter Directors in case of Limited Companies and Trustees in case of Trusts.
  • Hypothecation of medicines, receivables and other chargeable current assets.
  • Charge on unencumbered assets of Promoter Directors in case of Private Limited Companies, or any other collateral by way of FDR, mortgage of properties in the personal name of the relatives of Promoters, etc.

Margin

25%. Higher margin if collaterals are inadequate

  • Up to Rs.3.00 Crores-Base Rate+1.50% p.a.
  • Above Rs.3.00 Crores & Up to Rs.10.00 Crores-Base Rate+2% p.a.
  • Above Rs.10.00 Crores & Up to Rs.15.00 Crores-Base Rate+3% p.a.

Repayment Period

35 months to 84 months including moratorium depending upon the projected cash flow.

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