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A state level
financial institution catering to the financial needs of all industries as
well as those of service sectors on easy and tailor-made terms. Yours may
be a tiny, small or medium scale industry service sector existing or
proposed - anywhere in the state of West Bengal. |
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You can avail
of loans for acquiring land, building, plant & machinery, electrical
equipment, miscellaneous fixed assets, furniture, etc. as also for meeting
a portion or the whole of the working capital requirement of your
enterprise. |
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Any
individual, partnership firm, corporate body or registered co-operative
society. |
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Upto 5.00 crore per
projecf, if you are a corporate body or a registered co-operative society.
For others it is Rs. 2.00 crore. Under special circumstances the limits
may go upto Rs. 20.00 crore and 8.00 crore, respectively. |
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Various interest rates
prevail under different schemes. For tiny & small industries the
current range is 13% to 15.5% per annum, with quarterly rest, on reducing
balance. For medium scale industries the current interest rate is 15% per
annum. The stated rates may undergo changes from time to time, as may be
directed by the competent authority. |
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From the date of
disbursement of the loan. |
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On 30 June, 30 September,
31 December and 31 March every year, during the tenure of the
loan. |
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Long (Maximum : 10 years)
and tailor-made, according to the nature, size, repayment capacity of your
project as also the quantum of the loan.
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Normally after 12 to 24
months form the date of first disbursement of the loan, in quarterly
instalments.
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The loan quantum depends,
primarily, on the project cost. It ranges between 50% to 75% of the
project cost, depending on the size and nature of the project, category
and financial strength of the borrower, repayment capacity of the project,
risk factors etc.
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The total cost of fixed assets viz., land, building,
machinery, electrical, furniture, preliminary expenses etc. together with
the margin money required for working capital requirement constitute the
project cost.
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The promoters, and this is known as promoters'
contribution. |
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Depends on the situation. Normally the loan is
disbursed in stages with the progress of implementation of the project and
in proportion with the quantum of promoters' contribution raised.
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Depending on the category and purpose of the loan,
the fixed and(or the current assets created shall be mortgaged and/or
hypothecated in favour of the Corporation, having first charge in its
favour.
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Apart from the personal guarantee of the owners of
the enterprise, a small amount of cash security in the form of pledging of
NSCs / KVPs/ Bank FDs / Wifl TDRs / LIC policies or mortgage may be
insisted upon- depending upon various aspects
like risk factor etc. -
as a percentage of the loan sanctioned. Such percentage shall, however,
vary from case to case.
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On full liquidation of the loan along with interest
and other costs thereon
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Any type of industrial or service sector activity
(excluding trading), including hotels, nursing homes, transport,
commercial complex, infrastructure, consultancy services, floriculture,
and a host of others.
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Yes.
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An one time payment @ 0.15% p.a of the amount of loan
sanctioned is payable as commitment, legal and processing fee and service
charges.
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Prepare a project report and call on us at any of our
branch offices (we have one for each district) or at the HO at 12A Netaji
Subhas Road, 3rd and 4th floors, Kolkata 700001.
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Our Consultancy Cell prepares project report, imparts
technical & financial consultancy and renders help in securing
clearances from other institutions, against nominal fees.
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The General Manager ( operations ) at HO or the branch
managers at the branch offices.
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WBFC would be glad to discuss any loan proposal right
with you at its offices. However should circumstances warrant, we may also
call on you.
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Every endeavor, with your active cooperation, shall
be taken to sanction the loan in the quickest possible time. |
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Loan Limit |
Interest Rate |
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Loans upto Rs. 5 lakh |
9.50% |
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Loan above Rs. 5 lakh & upto Rs. 25 lakh |
11.0% |
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Loan above Rs.25 lakh |
12.50% |
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Interest on schemes not covered uder refinance will be charged
@1% p.a. higher than the corresponding rate where refinance is
available
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In the event of any default in payment
of the dues, penalty @2% p.a. on the default
amount for the period of default will be charged additionally in
the loan account(s).
The present system of charging service charge @ 0.15% p.a. on
the loan outstanding will
be discontinued for all accounts with effect from October,01,2007
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