1. What is the Vessel Financing SME Loan?
Vessel Financing SME Loan is a term loan facility designed to support businesses involved in inland and coastal water transport by financing the construction, purchase, ownership transfer, repair, or renovation of commercial vessels.
2. What types of vessels are eligible under this facility?
Eligible commercial vessels include:
3. What are the purposes of this loan?
The loan facility can be availed for:
4. What is the loan amount range?
Inland Vessels
Coastal Vessels
5. What is the loan tenure?
Inland Vessels:
Coastal Vessels:
6. What is the Loan-to-Value (LTV) ratio?
Inland Vessels:
Coastal Vessels:
7. What is the minimum business experience requirement?
8. Is prior vessel ownership mandatory?
Yes. Generally, the borrower must own at least one vessel to qualify for the facility. However, limited exceptions may be considered for businesses operating under charter arrangements.
9. What is the minimum repayment capacity requirement?
Inland Vessels
Coastal Vessels
10. Which business entities are eligible?
The following business entities are eligible:
11. What is the eligible age limit for borrowers?
12. What security is required for the loan?
Security structure may include:
13. Is joint registration of the vessel required?
Yes. Joint registration with the bank is preferred and may be mandatory for higher loan exposures, particularly above BDT 50 lakh.
14. Is insurance coverage mandatory?
Yes. The financed vessel must be adequately insured throughout the loan tenure. Insurance may include Hull & Machinery coverage and other applicable protections.
For coastal vessels, insurance coverage is generally required for at least 110% of the loan value.
15. How is the loan disbursed?
Construction Loans:
Disbursement may be made through:
16. Is any grace period available?
17. What is the repayment method?
The loan is repaid through Equated Monthly Instalments (EMI) as per the approved repayment schedule.
18. What documents are required?
Required documents may include:
Additional documents may be required based on the nature of the facility.
19. What are the guarantor requirements?
20. What are the applicable interest rates and charges?
1. What is the Vessel Financing SME Loan?
Vessel Financing SME Loan is a term loan facility designed to support businesses involved in inland and coastal water transport by financing the construction, purchase, ownership transfer, repair, or renovation of commercial vessels.
2. What types of vessels are eligible under this facility?
Eligible commercial vessels include:
3. What are the purposes of this loan?
The loan facility can be availed for:
4. What is the loan amount range?
Inland Vessels
Coastal Vessels
5. What is the loan tenure?
Inland Vessels:
Coastal Vessels:
6. What is the Loan-to-Value (LTV) ratio?
Inland Vessels:
Coastal Vessels:
7. What is the minimum business experience requirement?
8. Is prior vessel ownership mandatory?
Yes. Generally, the borrower must own at least one vessel to qualify for the facility. However, limited exceptions may be considered for businesses operating under charter arrangements.
9. What is the minimum repayment capacity requirement?
Inland Vessels
Coastal Vessels
10. Which business entities are eligible?
The following business entities are eligible:
11. What is the eligible age limit for borrowers?
12. What security is required for the loan?
Security structure may include:
13. Is joint registration of the vessel required?
Yes. Joint registration with the bank is preferred and may be mandatory for higher loan exposures, particularly above BDT 50 lakh.
14. Is insurance coverage mandatory?
Yes. The financed vessel must be adequately insured throughout the loan tenure. Insurance may include Hull & Machinery coverage and other applicable protections.
For coastal vessels, insurance coverage is generally required for at least 110% of the loan value.
15. How is the loan disbursed?
Construction Loans:
Disbursement may be made through:
16. Is any grace period available?
17. What is the repayment method?
The loan is repaid through Equated Monthly Instalments (EMI) as per the approved repayment schedule.
18. What documents are required?
Required documents may include:
Additional documents may be required based on the nature of the facility.
19. What are the guarantor requirements?
20. What are the applicable interest rates and charges?
