Project Loan
Projects loans are generally mid or long term period loans but lending institutions may consider the short term loan applications depending upon the feasibility of the project. The short term Project Loan can be availed for one year whereas the mid and long term project loans can be obtained for up to 10 years.
The rate of interest is quite competitive as the loan term is longer and may be affected by the periodic changes made by the lending institutes. Construction & Infrastructure, Engineering, Automobile, Power, Gas & Petrochemical industries are some of the business domains generally leverage on the Project Loans
The aspirants should have the detailed project report ready as it is the very basis of getting project loan sanctioned. The lending institutions seek good credit, strong solvency ratio, strong management systems, technology penetration etc. as granting criteria for project loans.
Feature & benefits of Project loan
- Easiest way to get the funds from bank/ NBFC and reduce the heavy capital investment by Promotors or owners.
- Repayment tenure up to 10 years, EMI would be lower so, they don’t need higher working capital for day to day Project activity.
- Lower the risk to the Promotors or Owners as Project is finance by Bank/ NBFC
- High chances of avail extra funds from the investors as Project loan is already availed by owners.
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