Purpose of Loan:
For Working capital / Acquisition of fixed assets.
All trading entities who have regular business.
Micro and small enterprises [Manufacturing].
The firm should be in business atleast during the last two years and audited financial statements atleast for one year should be available.
VAT Registration Certificate/ Fir's Registration Certification should be available.
Quantum of Loan:
Minimum Rs. 15 Lakhs
Maximum Rs. 75 Lakhs
Repayment of Loan:
Ranging from 24 months to 60 months
In case of Demand Loan/ Term Loan, actual PBDIT should not be less than 1.10 times of proposed annual EMI.
Primary: Stock and/or Book Debts.
Collateral: Non-agri immovable property or any other liquid security having value equivalent to atleast 80% of the sanctioned credit facilities.
Rate of Interest:
In the range of PLR-0.75% to PLR based on the quality of advance.
0.20 % of the credit limit subject to minimum of Rs.7500/-. In case of OLCC facility, processing fee is payable every year on due date of renewal.
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