HFC sanctions loans worth Rs 120 cr in Haryana

Chandigarh, Feb 2 (UNI) The Haryana Financial Corporation (HFC) has sanctioned loans worth Rs 120 crore so far during the current financial year.

HFC Managing Director Ram Niwas said the Corporation had recently organised customers' meets at Gurgaon, Manesar and Rai where loan proposals worth Rs 70 crore had been received.

He said HFC was one of the leading state financial corporations of the country, which provided term loans for acquisition of land, building and machinery with a repayment period of 8 to 10 years along with moratorium period of one-and-a-half years to two years.

The interest charged by the Corporation was among the lowest rates being charged by other financial institutions or banks in the country, he said.

Quick sanctions and disbursements and simplification of procedures had led to revival of the borrowers faith in the Corporation, he added.

UNI