GROUP LOAN
Patron Leasing & Finance Private Limited Group Loan is designed to extend loan facilities to women, with the objective of helping them meet their financial needs. Group Loan is a small economically homogenous and affinity group of people voluntarily formed to save and mutually agree to contribute to a common fund to be lent to its members as per group decision.
Documents Required:-
• Group Membership Form: A form indicating the group's members and their roles.
• Mutual Liability Agreement: A document outlining the shared responsibility of the group members for loan repayment.
• Resolution Passed by the Group: A document stating the group's decision to apply for the loan.
• SHG Loan Documents: Specific documents required by the bank or financial institution for SHG loans.
• SHG Meeting Attendance Register: A record of SHG meeting attendance.
• Inter-se Agreement: An agreement between all SHG members, outlining their decision to open a savings account and identifying authorized signatories.
• Copy of Passbook of Existing Account: If the SHG has an existing bank account.
• Letter of Introduction: If the SHG doesn't have an existing bank account, a letter from the Village Sarpanch or Village Administrative Office (VAO).
Individual Member Documents (KYC):
• Identity Proof: Aadhaar Card, Voter ID, PAN Card, Passport, Driving License, etc.
• Address Proof: Aadhaar Card, Voter ID, Passport, Driving License, Utility Bill, etc.
• Passport Size Photo: For each member.
• Income Proof: Proof of income or income-generating capacity, as required by the lender.
• Repayment Track Record: If the SHG has a history of credit with other institutions.
Other Documents:
• Business Plan: A plan outlining the group's business activities and how the loan will be used.
• Sponsor Letter: A letter from a sponsoring agency or NGO (if applicable).
• SHPI Recommendation Letter: A recommendation letter from the SHPI (Self Help Promotion Institution).
• Sanction Letter and Repayment Statement: If the SHG has active loans with other institutions.
• Bank Statements: Recent bank statements of the group's account.
• Balance Sheet and Income/Expenditure Statements: For SHGs that are registered as a company or firm.
• Grading Sheet: If the group has been graded by a sponsor.