Features
Nature of Facility : Cash Credit / Term Loan
Purpose : Working Capital needs & Acquisition of fixed assets
Target Group : Individually managed proprietary/partnership firm or closely held public/private limited companies in the Small and medium industrial and trading sector under C&I and SIB segments.
Quantum of loan (Min/Max)
1. MANUFACTURING UNITS: Rs.5 lacs to up to Rs.50 lacs (20% of annual turnover for WC loan and 67% of project cost for TL)
2. TRADE & SERVICES: Rs.5lacs to Rs.25lacs (15% of annual turnover for WC and 67% of project cost for TL.)
Margin (%) : 25% for working capital component and 33% for TL component
Pricing : Competitive Pricing Linked to MCLR
Collateral Security : As per Bank’s extant norms for WC and TLs
Repayment Period
1. WC loan to be renewed every two years with annual review of performance.
2. TL not more than 5 years excluding moratorium not exceeding 6 months
Processing Fee : As applicable to SSI /SBF / C&I units as per as per Bank’s latest Instruction.
Eligibility Criteria
The chief promoter /chief executive should be 18 to 65 years of age
Credits – SBI ( State Bank of India )