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 April, 2010 :
NORMAL TERM LOAN
Extent of loan
Upto 60% of the total project cost normally.
Type of rate
Floating rate
BPLR
11.25%
Applicable Rate
BPLR + upto 1% per annum
Moratorium
Upto 18 months
Repayment period
Upto 7 years
Interest payments
Payable quarterly
Note: Applicable rate of interest for Normal Term Loan varies from BPLR (11.25%) + upto 1% per annum depending on credit rating.
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
Upto 77.5% of the cost of plant & machineries normally.
Type of rate
Floating rate
BPLR
11.25%
Applicable Rate
BPLR + upto 1% per annum
Moratorium
Upto 9 months
Repayment period
Upto 5 years
Interest payments
Payable quarterly
Note:
i) Applicable rate of interest for Term Loan under EFS varies from BPLR (11.25%) + upto 1% per annum depending on credit rating.
ii) 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
WBIDC also disburses Short Term Loans upto Rs 40 lakh to its assisted units for Working Capital requirements, provided their assets are mortgaged to the Corporation.
The quantum and the fixed rate of interest on Short Term Loan:
Category
Quantum of Term Loan repaid
BPLR
Applicable rate
Maximum amount of loan
A
75%
11.25%
BPLR + 1.25%
Rs 40 lakh
B
50%
11.25%
BPLR + 1.25%
Rs 30 lakh
C
25%
11.25%
BPLR + 1.25%
Rs 20 lakh
D
10%
11.25%
BPLR + 1.25%
Rs 15 lakh
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 :
Extent of loan
Upto 60% of the admitted claim
Type of rate
Fixed rate
BPLR
11.25%
Applicable Rate
BPLR + 1.50% per annum
Repayment period
15 months
Interest payments
Payable quarterly
SPECIAL SHORT TERM LOAN (SSTL)
Extent of loan
No upper limit, based on valuation
Eligibility
No outstanding Term Loan
Security
Exclusive ‘first charge’ on fixed assets
Type of rate
Fixed rate
BPLR
11.25%
Applicable Rate
BPLR + 1.75% per annum
Repayment period
12 months
Note: Total installments and interest should be met in PDCs within 12 months from disbursement.
