Shine Resunga Development Bank

Head Office : Siddhartha Road, Butwal-8,
Rupandehi 071-551500,551498

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Agriculture

Target Segment:
  • Individual Nepali Citizen and/or Enterprise.
  • Age between 18 years to 70 years (maximum age limited to tenure of Loan) in case of Individual.
  • Individuals with regular source of Income such as from: Employment, Self Employment, Remittance, Rental, Pension etc.
  • Enterprise with regular source of Income from the concerned enterprise, supporting income source shall be accepted.
 
Purpose:
  • For purchase of Agricultural Tools/ Equipments/ Machineries such as Tractors, Harvester, Refrigeration Plants etc.
  • For purchase of land for agricultural purpose, construction of Permanent Structure, Purchase of Plant and Machinery for establishment of Farm House, Organic Farming, and Industry for processing and storage of Agricultural Products, Sales outlets of Agricultural Products, construction of ponds etc.
  • For acquisition/swap of Enterprises related to Agricultural Sector
  • For purchase of Agricultural Inputs such as Seeds/ Fertilizers.
  • For purchase of Livestocks such as Buffalo, Cow, Goat, Chickens, Birds (ostrich), Fish etc.
 
Payment:
  • Approved Loan shall be disbursed on installment basis for Term Loan.
 
Loan Tenure:
  • Maximum upto 15 years in case of Term Loan.
  • Upto 1 year in case of Revolving Loan.
  • Grace Period shall not exceed 1 year if justified by management.
 
Financing Criteria:
  • Maximum 80% of cost for all Purposes mentioned above.
 
Nature of Facility:
  • Term Loan for financing Fixed Assets.
 
Repayment Mode:
  • Principal Repayment shall be based on the nature of cash flow and the gap of two installments shall not exceed 1 year.
  • Interest Payment shall be monthly/quarterly in case of Term and Revolving Loan.
 
Interest Rate:
  • It shall be the published rate by Bank from time to time.
 
Charges:
  • Service charges, Prepayment charges and all other applicable charges shall be as per Bank's STC policy.
 
Security:
  • Legal Mortgage on Freehold Property (Land and Building) valued by valuator of Bank.
  • Equipment/Machineries financed shall be in the name of the Bank.
 
Insurance:
  • Property being mortgaged shall be compulsorily insured sufficiently to cover the Loan amount.
  • Stock/Plant & Machinery Insurance shall be preferred.
 
 Financing Restriction:
  • Enterprise with Negetive Net Profit and/or Net Worth for past 2 years.
  • Refinancing of the Defaulter Loan of another Bank and Financial Institution.
  • Financing in the Enterprise prohibited by Nepal Government, Nepal Rastra Bank, Facilitating Anti Money Laundering Activities.
 
Documents Required:
  • Application form with photo from Applicants/ Co -applicants and photo of Personal Guarantor if any.
  • Documents related to income such as Salary sheet, Rental agreements papers, Pension book, Proof of Remit receipt, FS of business.
  • Net worth Statement of Applicant/Co-Applicant and Personal Guarantor.
  • Property related documents such as Land/Buildings/Apartments Ownership Certificates, Property Deed for New Purchase, Blue Print, Trace Map, File Naxa if any, Four Boundary Certificate of Property, Land Revenue Receipt (Tiro Rasid).
  • Copy of Citizenship Certificate of Applicants/Co-Applicants and Personal Guarantor if any.
  • In case of Construction of Permanent Structure related to Agricultural Products, the detail construction time plan, estimated cost from certified valuator shall be preferred.
  • Six month’s statements of the saving/current/loan account maintained by the applicant, if any.
  • If the applicant’s business income is used to justify the cash flows, the applicant shall be required to submit copies of all business related documents such as Registration Certificate, Partnership Deed, Article of Association, Memorandum of Association, Tax Clearance Certificate, PAN certificate, latest Audited and /or Provisional Financial Statements.
  • Project report including existing and proposed investment, period of investment, nature of activities, projected financials etc. In case of financing to farmers and others for facilities exceeding Rs. 5 million.
  • Any other documents to justify the loan that may be decided by the management from time to time or as may be required by regulatory requirement.