WBIDC’s key function is to provide financial assistance to investors for setting up new medium and large scale industries as well as expansion, diversification and modernization of existing units. The loans are available in several forms:
Details of various loan schemes effective from 1st October, 2012 :
NORMAL TERM LOAN
Extent of loan
No limit, however subject to prudential norms.
Type of rate
Floating rate
PLR
14.75%
Applicable Rate
PLR + upto 1% per annum
Moratorium
Upto 18 months
Repayment period
Upto 7 years
Interest payments
Payable quarterly
Note: Applicable rate of interest for Term Loan varies from PLR (14.75%) + upto 1% per annum depending on credit rating of the company.
TERM LOAN UNDER EQUIPMENT FINANCE SCHEME (EFS)
In this scheme the loan can be upto 77.5% of the cost of capital goods/equipment (other than second hand for indigenous capital goods/ equipments) to be acquired.
Extent of loan
No limit, however subject to prudential norms.
Type of rate
Floating rate
PLR
14.75%
Applicable Rate
PLR + upto 1% per annum
Moratorium
Upto 9 months
Repayment period
Upto 5 years
Interest payments
Payable quarterly
Note: In case of imported second hand capital goods/ equipments certificate from Chartered Engineer regarding the condition of the capital goods/ equipments and their expected residual life has to be provided.
SHORT TERM LOAN
Extent of loan
No limit, however subject to prudential norms.
Type of rate
Fixed rate
PLR
14.75%
Applicable Rate
PLR + up to 1.25% per annum
Repayment period
Upto 9 months
Note: Total installments and interest should be met in PDCs within 9 months from disbursement.
BRIDGE LOAN
WBIDC offers Bridge Loans upto 60% of the admitted claim of State Government Incentives as per terms given below:
