Idea Financing
is a term loan that is extended to individuals/groups for implementing scientific studies, which has recognition as invention and innovation by the concerned government organ. The loan can be granted for commercial/mass production and marketing of the creative idea that have obtained recognition from the Intellectual Property Right Protection Office. The Bank may extend the loan for a maximum period of seven years with one-year grace period.
In addition to the General Eligibility Criteria, the customer shall fulfil the following specific requirements.
- The applicant shall present an Intellectual Property Right Certificate that confirms he/she/they obtained recognition from the Intellectual Property Rights Protection Office.
- The applicant shall present valid investment and business license from the concerned government body.
- The applicant shall submit feasibility study justifying the financial, technical, market, and environment viability of the project.
- The Bank may not require equity contributions.