The Zoroastrian Co-op. Bank Ltd. (ZCBL) has announced a Special MicroFinance Scheme for Entrepreneurs in India. Under this scheme, a special MicroFinance Fund of Rs.5 crores has been set up, out of which they will be financing Entrepreneurs, to help them set up a new business / service / profession or enhance their existing ventures. The lending will be in the form of a Term Loan upto a maximum amount of Rs.10 lakhs per borrower, for setting up business/for equipments, machinery, furniture etc. Margin will be fixed on case to case basis depending on the financial status of the applicant.
Repayments will be spread over a maximum period of 60 months by way of fixed EMI’s. The rate of interest will vary on a case to case basis. The principal assets financed by the bank will be taken as prime security. Collateral security / guarantor may be waived in special cases. The proposals under this Scheme may be directly sent to Mr. Tehmasp K Bharucha, Senior Vice President, ZCBL, Email : tbharucha@zcbl.in Tel. Nos. 09422004707 / 66661010.
Young Zoroastrians are requested to avail of this generous and unique scheme themselves, and also pass it on to their Zoroastrian friends / relatives, who are desirous of starting / growing their businesses.
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