Shine Resunga Development Bank

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

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Service Business

Target Segment:
  • Service providing entity established as per prevailing laws in Nepal.
 
Purpose:
  • To finance the Fixed Assets for establishment, expansion or diversification of the entity.
  • To provide Revolving Loan if needed for expansion of entity or for newly established entity.
 
Loan Tenure:
  • Minimum 1 year Maximum 15 years in case of Term Loan.
  • Upto 1 year in case of Revolving Loan.
  • Grace Period shall not exceed 1 year if it is justified by management.
 
Financing Criteria:
  • Maximum 80% of the Total Investment Cost for financing Fixed Assets for Term Loan.
  • Revolving Loan can be given if justified.
 
Repayment Mode:
  • Repayment of Principal shall be monthly/quartly/half yearly/yearly or Repayment shall be on EMI basis.
  • Interest Payment shall be monthly/quarterly basis.
  • Debt Service Coverage/ Interest Coverage Ratio shall be atleast 2 times.
 
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 listed valuator of the Bank.
 
Insurance:
  • Property being mortgaged shall be insured sufficiently to cover the Loan amount.
 
Financing Restriction:
  • Industries with Negetive Net Profit and/or Net Worth for past 2 years.
  • Refinancing of the Overdue/Defaulter Loan of another Bank and Financial Institution.
  • Financing in the Industries prohibited by Nepal Government, Nepal Rastra Bank, Facilitating Anti Money Laundering Activities.
 
Documents Required:
  • Application form with Company Seal from Entity with photo of the authorized person to deal Loan on behalf of the Entity and photo of Personal Guarantor if any.
  • Net Worth Statement of Proprietor/Partners/Director and Personal Guarantor.
  • Property related documents such as Land/Buildings/Apartments Ownership Certificates, Property Deed if any, Blue Print, Trace Map, File Naxa if any, Four Boundary Certificate of Property, Land Revenue Tax Payment (Tiro Rasid).
  • Copy of Citizenship Certificate of Proprietor/Partmers/Director and Personal Guarantor if any.
  • Six month’s statements of the saving account maintained by the Applicant (Entity), 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, Minutes, Article of Association, Memorandum of Association, Tax Clearance Certificate, PAN certificate, Latest Audited and /or Provisional Financial Statements.
  • Business Plan for facilities above NRs 10 million including details of Existing and Proposed Investment, Management and Marketing Plan, Cost and Period of Investment, Nature of Activities, Past Audited Financial Statements of atleast 2 years and  Projected Financial Statements of atleast 3 years in case of Working Capital Loan and Projected Financial Statements upto the period of Loan Tenure.
  • 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.