The Lakshmi Vilas Bank Ltd :: “To develop a range of quality financial services and products to create value for customers, shareholders and the society; to motivate people to achieve excellence in performance leading to sustained profitable growth and build a vibrant organization.”
Switching from “Benchmark Prime Lending Rate” to “Base Rate”
Bank’s Benchmark Prime Lending Rate (BPLR) is 17.25% p.a.effective from 01.08.2011
Base Rate of our Bank is 11 % p.a with effect from 29.11.2011
Lakshmi Business Credit
This is a convenient loan scheme designed for the trading community for quick and hassle free loans to meet their financial needs. Lakshmi Business Credit can be availedby all kinds of traders such as Department stores, Wholesalers, Retailers, Distributors, Jewelers and Grocery Merchants etc.
Quick processing.
Minimum formalities.
Operational Convenience.
Competitive interest rates.
Against security of stock and book-debts/ immovable property/
NSC / KVP / LIC Policies/ Deposits in LVB.
Individuals and HUFs (operating through Kartas) with sufficient income and who can produce satisfactory proof of such income by way of salary certificates, Income Tax certificates etc.can avail loans under the scheme. .......
Construction of a new house/flat.
Purchase of a new house /flat constructed by a reputed promoter/contractor.
Additional construction or alterations carried out by the owners of the houses.
To meet expenses connected with the pursuit of higher secondary education, specific courses of study at recognized institutions, including professional/job-oriented courses, which offer reasonable opportunity for employment.....
Purpose: For working capital requirements or for purchase of machinery/equipments required for the business. Eligibility: Individuals or Proprietorship concerns engaged in small trade or small business, Commission agents, etc., are eligible for finance under the scheme.
For purchase of new Commercial Vehicles including oil tankers, LPG bullet tankers, multi-axel vehicles, passenger vehicles, buses, Rig Units, JCB, Bulldozers, Road Rollers, Poclain Unit, Harvesters and other earth movers, etc.
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it's possible that a community bank loan under this program might be made to a business that is not qualified as "small," I'm guessing it's not likely. Under the Small Business Jobs Act, qualifying loans (up to $10 million) may be made to applicable business that are "small" -- meaning, the business has annual revenues of $50 million or less. As always, though, an institution lending under this program, should verify compliance with the Act's requirements. I don't see this affecting relationship banking.
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