one of my client want loan of Rs. 3 Crore for constructing a ware house, which will be given on rent to government for storing agriculture product. out of which 33.33% amount will subsidy give by government.
Client want to take loan from State bank of india.
Please tell me the procedure for this finance and what is the documentation required for this Loan>
26 November 2012
First approach the State bank of India whether the bank is agreed to finance for construction of ware house.
If agreed, the documentation includes following: 1. Title deed of Land & other properties for Hypothetical/ Mortgage. 2. Credit worthiness or Net worth of borrower - Borrower has any running business,its networth, turnover, financial statements, IT returns etc 3. Future rent or income receivable projections of warehouse - Govt orders for appointment of warehousing or private parties. 4. Project reports for 3 to 5 years. 5. Collateral securities if insisted by bank in case of primary property not sufficient 6. Guarantors / surety , if asked. 7. If all papers submitted and accepted, then banker will execute the documentation as per Banking norms.
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