Prabhu Salary Solutions is an extension of KIST Uddhmshil Karja. It has been designed to provide free salary distribution to the staff of educational institutions and finance for meeting the working capital requirement of the educational institutions.

Who Can Apply 
Private Sector's educational institutions, i.e. primary level school, lower secondary school, secondary school, higher secondary school, colleges etc.


Purpose
Supportive to meet the immediate working capital requirement for payment of monthly recurring expenses such as salary, rent etc.
 

Salient Features

·         Maximum loan up to NPR. 200,000.
·         Financing of up to 50% of net current/fixed assets or up to half month’s average fee collection or 50% of the working capital requirement of NPR. 200,000 whichever is lower.
·         Maximum loan tenure of 1year.
·         Management Fee of maximum 1% of the sanctioned amount.
 

Documents Required

·         Registration Certificate with Company Registrar Office,             
·         Registration Certificate with Inland Revenue Department,          
·         Permission Letter/ License from Local bodies of Ministry of Education for operating school/college,  
·         Registration Certificate with local government body,       
·         Memorandum & Article,    
·         Board Resolution,              
·         Latest Tax Clearance Receipt,       
·         Last 2 years’ financials and projected financials for upcoming years,      
·         Self-attested copy of citizenship certificate of all promoters /directors /principal,            
·         2 copies photograph (each of all promoters /directors /principal,              
·         Completed loan application form 
·         List of fixed /current assets with maintaining quantity and value,            
·         Number /list of staff and students.            
·         Fees income collection record of last year,            
Other documents, as required on case to case basis.