Who can avail this loan ?
Small and Medium Enterprises under the Trade Sector (Both under priority and non-priority sector).
Purpose
To set up a new Business / Refurbish an existing unit / establish additional facilities etc.
To meet working capital requirements for running the unit.
Eligibility
Individuals / Firms / Companies or any other legal entity engaged in lawful business activities (other than Manufacturing, Service or Agricultural activities).
Nature of Facility
Term loan, Working capital and Non-funded limits.
Maximum Amount
Maximum amount of Rs.500L is eligible for the categories such as Term Loan, Working Capital and Non-Funded. Need based higher limits will also be considered.
Margin
| Fixed Assets |
25% |
| Stock |
25% |
| Book Debts |
40% |
| Cash Margin |
For non-funded limit-20% and For HO
functionaries, as per delegation |
Repayment
1.Term Loan
Maximum period of 84 months (including repayment holiday, maximum of 6 months) and Repayable in Equal Monthly Installments.
2.Working Capital
Maximum Period 30 months and Subject to review every year .
3.Non-Funded
On demand / After due date.
Rate & Charges
Please refer rates & charges page
Security
Mortgage of land and building / hypothecation or pledge of stock receivables etc according to the nature of loan