Purpose
Financing under the scheme is for ramping up of COVID related healthcare infrastructure and services in the country.
Eligibility
a. Entities eligible for fresh lending support are:
- Vaccine manufacturers
- Importers/ Suppliers of vaccine & priority medical devices
- Hospitals/ Dispensaries
- Pathology Labs
- Manufacturers and suppliers of ventilators
- Importers of Vaccines & COVID related drugs
- COVID related Logistics firms etc
b. All other units other than hospitals engaged in the manufacture and supply of Healthcare Services.
c. Ecosystem engaged in building / servicing Health care Infrastructure.
Facility
Term Loan, Cash Credit, Import Letter of Credit, Bank Guarantee.
Quantum of Finance
Minimum: Above Rs 10.00 lakh
Maximum: Rs 100.00 Crore.
Assessment
As per Loan Policy
Margin
| Term Loan | 25%(For purchase of Equipment and Vehicle 15%) |
| Cash Credit | 25% on Stock & Book-Debts (BDs upto 90 days shall be reckoned for DP calculation). |
| LC/ BG | 25% (Cash/ FDR Margin) |
Charges
Processing Charges & Other Charges – 50% of the applicable charges
Rate of Interest
As per IC no.2621-2021 dt.24.05.2021 –
MSME – Minimum EBLR + 2.00% to 2.50%
Others – Minimum MCLR + 2.00% to 2.50%
Security
Primary Security – Assets created out of bank finance.
Collateral – 25% SARFAESI compliant tangible securities unless covered under CGTMSE.
Repayment
Term loan is repayable in 10 years including maximum moratorium period 18 months in case of Construction of Hospital/Nursing/Home/ Clinic and up to 6 months in case of only equipment finance.
Working Capital: On Demand.
Credits – Union Bank of India