Autoprint starts a finance assistance programme
By Sachin Shardul Monday, 14 November 2011
Coimbatore-based Autoprint Machinery has recently signed an MOU on loan syndication with Indian Overseas Bank aiming to finance for its printing machines.
According to Autoprint, lack of easy access to bank loans for small and medium entrepreneurs is one of the major problems in Indian the print industry. In order to minimise this problem, we have signed an MOU.
As per this MOU, any individual or company in India can purchase Autoprint machines through the bank financing with the rate interest between 12.5% to 13% per annum and 85% finance will be given without any processing fee from the bank. The repayments of loan can be made within three to five years with a holiday period of three months.
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