Gang-jong was incorporated on 27th November 2017, as an unlisted company, registered with Registrar of Companies in the state of Himachal Pradesh (HP). The registered office of the company is located at Gangchen Kyishong, Dharamshala, Kangra, HP 176215 India. The three initial members of the Board of Directors are Mr. Karma Yeshi(Chairman), Mr. Alok Prasad and Mr. Kunchok Tsundue appointed on 27 November, 2017.
Gang-Jong will aim to provide need based and competitively priced loan products to the community of small entrepreneurs in hill stations and tourist areas, who have less financial literacy and no collaterals by understanding their needs, repaying capacity.
What is the process for getting loan?
- Gang-jong will announce loans through its website, the Settlement Offices of CTA and other Medias.
- The eligible purposes, the eligibility criteria will also be announced simultaneously.
- The eligible Tibetan entrepreneurs and businesses need to obtain Loan Application from the Settlement Officer and submit the same with the required documents before the due date.
- GDF respects the privacy of the applicants, hence the information provided by the applicants will be used only for the loan appraisal purpose.
What are the documents required for processing Summer Loan?
- Attested copy of Green Book
- Attested copy of RC
- Loan application form
- The applicant’s name must appear in the market list provided by the market leader.
What is the Interest rate, Tenure and Penalty for Loans under Gang-Jong Development Finance Pvt. Ltd.?
- The current loan terms are:
S.No Products Loan Amount Interest Rate Tenure Penalty for late payment 1 Summer Loan 2 Lakhs 6% P.a 6 Months 12% P.a
Will the CTA/ Gang-Jong Development Finance Pvt. Ltd. Provide Housing Loan and Personal Loan?
As the objective of GDF is to improve the financial sustainability of Tibetan small entrepreneurs and businesses, loans are being provided now to improve the businesses/enterprises, providing of housing loans and personal loans is not being considered at present.
When the loan amount will be disbursed?
The loan amount will be disbursed by the first week of the month selected by the loan applicants in the loan application form.
Do I have to go to settlement to receive the loan amount?
No. Loan will be disbursed directly into the bank account of the borrower mentioned in the loan application form. The borrower will be informed of the disbursement and he/she just need to check the bank account either from ATM or from bank itself after one day from the date of disbursement.
Where do I have to go to fill and sign the receipt? And When?
As soon as you have received the loan amount in your bank account you can proceed on to sign loan receipt/promissory note at your Settlement Office. Further, it may please be noted that signed receipts are to be submitted to the respective settlement office and not to send individually to GDF.
Is there pre-payment option for loan repayment?
Yes. At any time after the disbursement.
In which bank account we have to make repayment?
The details of the bank account to which repayments are to be made will be informed to each borrower at the time of disbursement. Borrowers are requested to make sure that repayments are made into the correct bank account, if necessary, by calling the project officer/ settlement officer.