Corp CA - A specially scheme for Chartered Accountants

CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN") (114225 Points)

06 November 2010

Corp CA - A specially designed scheme for Chartered Accountants

Corp CA - An attractive Scheme specially designed for Chartered Accountants

Eligibility

• Chartered Accountants, individually/jointly or Proprietorship Concern or a Partnership Firm/ Partnership with Limited Liability

• Age of the individual/proprietor shall not exceed 65 years.

• The applicants/Firm are registered with Institute of Chartered Accountants (ICAI) and also holding valid certificate/license for carrying out the practice

• The applicants/firms name shall not appear in the RBI defaulters list/CIBIL report

• In case of Firm, all partners shall join as co applicants

• The applicants/firm should not have been subjected to disciplinary action by the Institute

Purpose

• For construction of office premises

• For acquisition of ready built new office premises, partly or fully constructed

• To finance cost of land and construction thereon

• To finance cost of furniture & fixture, fittings of office equipments/ computers/ other accessories etc.

● To finance working capital and/or financing receivables

Nature of facility

Demand Loan /Term Loan for acquisition of fixed assets and/or
Cash Credit/Overdraft for Working capital

Margin

A. For Term Loan/ Demand Loan : Uniform margin of 20%
B. For Working Capital - 25% for Book Debts/ Receivables for cash credit or clean overdraft
Value of land shall not exceed 50% of project cost in case of purchase of site and construction of premises.

Please click below to download Quantum of Loan:
Quantum of Loan:

Security

a. Term Loan /Demand Loan - Assets acquired out of the loan.

b. Working Capital Loan - Assignment of Book Debts/Receivables

Collateral Security : Suitable third party guarantee or Tangible securities

Repayment

• Term Loan - Repayable in maximum period of 10 years by EMI/PMI, with initial moratorium of upto 18 to 24 months.
• Demand Loan - Repayable in maximum 3 years by EMI/PMI, including initial moratorium of 6 months
• Repayment to commence from date of commercial operations or after completion of initial repayment holiday or as per the terms of sanction

• Interest shall be serviced as and when debited

ROI

Upto Rs.10 lacs – Min.10% Max. 11.50%

Above Rs.10 lacs – Min.10.75% Max. 12.50%
(Investment in fixed assets less than Rs.100 lacs)

Above Rs.10 lacs – Min.11.75% Max.14.00%
(Investment in fixed assets above Rs.100 lacs)
Subject to gradation of the borrower

• ROI at floating rate linked to Base Rate
• ROI is subject to review

Note : Concession of 0.50% extended, if additional collateral security viz., property, LIC policies, Deposit etc., to the extent of 25% of loan amount is provided

Processing Charges :
0.25% of loan amount subject to a minimum of Rs.5000/-

Prepayment Charges
-NIL-