Commercial Mortgage Equity Line Of Credit (CMELC)
To meet temporary expense commitment with use of a line of credit secured by a commercial property.
Features
Obligor Exposure : Based on affordability (No single obligor shall access more than 70% of FSV of collateral)
Interest rate: 25% P.A
Tenure : 90/180 Days
Security/Collateral : Commercial Mortgage collateral like shops, business offices where FSV > Value of loan + 1 year interest pyt
Repayment Structure : Monthly repayment of interest and bullet repayment of principal at maturity