Project Loan

The financing of long-term infrastructure, industrial projects and public services based upon a non-recourse or limited recourse financial structure where project debt and equity used to finance the project are paid back from the cashflow generated by the project. This includes the Term Loan for Construction of Building and Infrastructure/Machinery/Furniture and Fixtures etc. and Working Capital in various forms required for the project.

Documents Required For Project Loan

Sl.No. Documents
1. Application form duly filled and signed by the Borrower
2. Latest statement of Assets and Liabilities of all the Directors / Partners / Properties / Guarantor as the case may be duly filled and certified by Chartered Accountant
3. Latest shareholding pattern in case of company duly certified by Chartered Accountant.
4. Copy of MOA and AOA / Partnership deed as the case may be. Copy of Certificate of Incorporation and Commencement of Business in case of Company.
5. Audited Financial Statements along with annexure / schedules and Auditors report for the last three years.
6. Projected financial statement along with annexures / schedules for the current year along with assumptions of the projected figures.
7. KYC of all the Partners/Directors along with their three year ITR
8. CMA data incorporating audited financials for the last two years, current year along estimates and next year projections.
9. Month wise sales and purchase details upto a recent date from the beginning of the current financial year.
10. Term Loan Proposals:
a. Detail Project report covering information on the project, project cost, source of finance, technical feasibility & economic viability report, implementation schedule, current status of the project.
b. Projected profitability statement, projected cash flow statement and
projected Balance Sheet covering the tenor of the term loan sought. The assumption underlying the profitability estimates and DSCR calculations.
11. Details of the associate concerns of the Borrower in terms of their principal activity, directors, Financial details i.e., turnover tangible networth and net profit for the last two years along with the details of credit limits enjoyed by the associate / group concerns of the firm along with financial statement for the last two years.
12. Details of primary security and collateral security available / offered for the credit
13. Details of credit limits enjoyed with other Banks / Financial Institutions.
14. Copy of VAT, Service tax Details
15. Copy of the SSI/SME registration if any
16. Copy of the Gumastha Licence ( Shops and Establishment License) if any

Procedural Aspects For Project Loan

CHECKING OF LOAN AMOUNT ELIGIBILITY INCOME, AGE, EMI, TENURE,OTHER OBLIGATIONS
CIBIL SCORE BORROWER, CO-BORROWER SHOULD BE NORMALLY ABOVE 550
DUE DILIGENCE 1. KYC:PAN CARD, AADHAR CARD,ADDRESS PROOF
2. BANK STATEMENT=== 06 MNTHS TO 1 YEAR, VERIFICATION OF INCOME TAX RETURNS
3. VISIT TO EXISTING:OFFICE/FACTORY/GODOWN, RESIDENCE
4. VISIT TO NEW PROPERTY TO BE PURCHASED
TITLE & SEARCH 0F THE PROPOSED PROPERTY: THE TITLE OF THE SECURITY THUS OFFERED IS SCRUTINISED BY BANK’S ADVOCATE
VALUATION IN CASE OF READY POSSESION FLATS/SECOND SALE OF PROPERTY THE SAID PROPERTY IS SUBJECT TO VALUATION FROM THE BANK APPROVED ARCHITECT
PAYMENT OF STAMP DUTY FOR DISBURSMENT OF LOAN: CERTAIN BANK DOCUMENTS ARE TO BE STAMPED BEFORE THE LOAN IS DISBURSED AND THE SAID STAMPING IS DONE BY: FRANKING, E-PAYMENT, E-CHALLAN, E-SBTR
ONCE THE FRANKING IS DONE THEN ALL THE DOCUMENTS ARE TO BE SIGNED BY THE BORROWERS.
ALL THE ORIGINAL DOCUMENTS PERTAINING TO THE PROPERTY IS TO BE SUBMITTED TO THE BANK .
LOAN DISBURSAL AND ENTRY IN CERSAI BY THE BANK
NOTICE OF INTIMATION (ONLY IN THE STATE OF MAHARASHTRA) IT IS A PROCEDURE WHERE IN EACH MORTGAGE CREATED BY THE BANK HAS TO BE INTIMATED TO THE RESPECTIVE SUB-REGISTRARA WHERE THE PROPERTY IS REGISTERED, WHICH ATTARACTS CERTAIN COST TO BE BORNE BY THE CUSTOMER.

Time Frame Required For The Entire Procedure

Normally All Banks Take Around 3 Week To 4 Weeks For Sanction Of The Loan If All The Papers Are In Place.
MAA Capital Solution will act as intermediary between the concerned Bank and you. Considering the fact that all the relevant papers are in place and the legal scrutiny of the property is hassle free then MAA Capital Solution will assure to give a timely loan sanction from the Bank within a time frame of 10 to 12 working days.