What is Gold Bond:
Sovereign Gold Bonds (SGB) are government securities denominated in grams of gold. The bonds are issued by Reserve Bank of India on behalf of Government of India and it substitutes holding of physical gold. SGBs carry sovereign guarantee and are classified as government securities.
Last week a manufacturer of recycled plastic granules approached Bokdia Finance for a working capital loan. During the course of our 1-2-1 meeting, we discovered that she held Government issued Sovereign Gold Bonds.
We directed her to approach the issuing bank to avail gold loan by pledging the Bond. The issuing bank recieved first such loan request (after the Government came out with SGB schemes) and due to some technical difficulties it could not process the loan.
The promoter asked us if we could help her in providing Business Loan against the SGB. We processed her application in less than One business day and disbursed working capital term loan which is payable in easy monthly installments through her bank account.
The manufacturer was impressed with the fact that Bokdia Finance had an option to foreclose / pre-close the loan at any given point of time. This suited well for her business as it had multiple bills receivable.
Bokdia Finance & Estate arguably became the first Private Financier / lender in Chennai to provide business loan against Sovereign Gold Bonds.
Call us at 9150132003 or visit or website http://www.BokdiaFin.in
Bokdia Finance & Estate 