1. Loan would be extended for Eligible Projects-for Start-ups/ Expansion/ Modernization; etc. Infrastructure/ Manufacture/ Software/ Hotels/Micro-Finance /Other Business Ventures would be eligible for the Loans.

 

2. Loans would be transferred in USDcurrency to the Borrowers’ A/c. through one of the Authorized Financial Institutions.

 

3. The Borrowers have to submit the Application, with all relevant details correctly.

 

4. The Lenders will send a Draft Private Term Loan Agreement for Borrowers to indicate his/her willingness to accept the Contents. Thereafter, it would be signed on behalf of both Parties by their Authorized Representatives, either at a Common place or at their respective places. Once signed, the Agreementwould be binding on both Parties.

 

5. The Borrowers have to execute a Promissory Note/Personal Guarantee for payment of the Principal Loan.

 

6. The Borrowers have to ensure prompt payment of Interest and Principal on the Due Dates without any reminders from the Lender, failing the Lender will initiate Legal Proceedings.

 

7. Loan duration: 5 Years minimum.

 

8. The Rate of Interest 5% per Annum.

 

9. Interest will be payable annually to the specified bank a/c of the Lender through one of our Authorized Mode of Remittance.

 

10. The Borrowers can make early payment and the Interest would be chargeable on the outstanding amount.

 

11. The Lender has a right to recall the Loan, in case of Default on the Part of the Borrower or in circumstances indicating strong possibility of Default by the Borrower.

 

12. The Lender can call for Annual reports / Performance Reports and other relevant information or depute their representatives for inspection, during the pendency of the Loan and the Borrower has to extend co-operation.

 

13. The Borrowers have to intimate the Lender in case the Project/Business is discontinued or if there is any major change in the Business.

 

14. The Lender & Borrower would endeavor to ensure that the entire Business deal is executed smoothly.