In view of an opportunity available in financing existing service sector projects like hotel/hospital/education institute those have track record of operation of three years, have cash flow imbalances but having good security may be considered for financing, RIICO, Rajasthan Govt. has launched this scheme.
- The project should be located in Rajasthan.
- The company should be in production/operation for the last three years.
- The company should have been borrower of financial institution / bank for a minimum period of 4-5 years.
- The loan account of the borrower should not have been classified as NPA.
- Security coverage will be 2 times of the proposed term loan.
- The net applicable rate of interest would be 0.50% lower than the current rate of interest being charged by the existing lender from the borrower.
- Total repayment period shall not be more than 8 years including moratorium period of six months.
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