FREQUENTLY ASKED QUESTIONS
| Does SICOM finance service oriented projects like software development, hospitals, hotels, etc.? | Yes |
| Does SICOM finance trading activities? | No |
| Would SICOM provide promoter funding? | Yes |
| Would SICOM finance a project anywhere in India? | Yes |
| Does SICOM provide lease finance? | No |
| Does SICOM accept fixed deposits ? | No |
| Does SICOM fund infrastructure projects? | Yes |
| Does SICOM participate in consortium finance ? | Yes |
| Does SICOM provide foreign currency loans? | No |
| Does SICOM provide loan against shares? | Yes |
| Does SICOM subscribe to debt products? | Yes, only in the primary markets |
| Does SICOM subscribe to preference shares for meeting long term working capital requirements ? | No |
| Would SICOM be able to offer any ready-made / semi-finished projects to get us started ? | Yes, we can from time to time offer various ready-made / semi-finished projects for take-over by prospective experienced entrepreneurs. |
| Does SICOM have offices outside Mumbai ? | Yes, we have four regional offices in Maharashtra at Pune, Nagpur, Nashik, Aurangabad and one regional office in New Delhi. |
| What are the norms for debt equity ratio ? | For a new project, debt : equity ratio of upto 1.5 :1 is acceptable. For existing companies with lower gearing, relaxations are possible. |
| Does SICOM make trade checks with banks / institutions ? | Yes |
| How long it takes to process the loan application ? | Depending on the tenure of loan the time taken varies from two weeks to eight weeks after receipt of complete information |
| Does SICOM have application format/ brochures ? | Yes. Click here for downloads section. |
| Whether payment to SICOM can be made outside Mumbai? | Payment to SICOM can be made at its regional offices viz. Aurangabad, Delhi, Nagpur, Nashik and Pune |
| What is the typical documentation required for long term loans / medium term loans ? | Normally documents for creation of mortgage / hypothecation on the fixed assets, are required apart from personal guarantees and in some cases collateral security. |
| What is the security acceptable to SICOM ? | First or pari passu charge on the fixed assets of the company |
| What will be the interest rates for various products? | Interest rates will be based on risk rating and our prime lending rates for corresponding tenure of products. |
| Rate of interest is fixed or floating? |
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| What is the frequency of interest payment? | In case of medium and long term products, the interest is payable quarterly and in case of short term loan products it is payable monthly |
| What charges does SICOM levy for processing the application? | Non-refundable fee of 1% of the sanctioned amount, payable up-front. |
| Does SICOM extend lease finance on structured/ customised terms? | No |
| Does SICOM provide advisory services? | Yes. Click here for Advisory |