Features
Nature of Facility : Composite Loan (Working Capital facilities / Term Loan)
Purpose :To meet all kinds of credit requirement for setting up Greenfield projects under manufacturing, services or the trading sector.
Target Group : SC / ST and Women entrepreneurs
Quantum of loan (Min/Max)
1. Minimum loan amount: > Rs 10 lacs
2. Maximum loan amount: Rs. 1 crore
Margin (%) : Minimum mandatory margin is 10%. Max. Margin money on composite loan would be upto 25% which will be reduced through convergence with Central / State schemes.
Pricing : Competitive Interest rates Linked to MCLR
Collateral Security : No Collateral / Third Party Guarantee to be obtained. All loans to be covered under CGSSI (Credit Guarantee Scheme for Stand-Up India Scheme)
Repayment Period : Maximum of 7 years (including moratorium period upto 18 months)
Processing Fee : 0.20% of loan amount (plus GST as applicable). No other charges are proposed to be
recovered.
Eligibility Criteria
All loans more than Rs. 10 lakhs and up to Rs. 1 Crore to SC / ST borrowers and women entrepreneurs for Greenfield projects only.
Credits – SBI ( State Bank of India )