Small & Medium Enterprise(SME)

Purpose

This scheme aims at providing adequate and timely assistance to the businessman/ artisans to meet their credit requirements both for investments as well as for working capital in a flexible manner and at reasonable rate of interest.

The facility will be extended by way of a revolving cash credit and the limit will be fixed based on the assessment made

1. Preference to be given to artisans registered with the Development Commissioner (Handicrafts).
2. Existing borrowers with limits up to Rs. 50,000.00 and satisfactory track record are also eligible.

Age

Minimum 21 years ; Maximum: 65 years

Quantum of Loan

Maximum of Rs 1.00 lacs

Margin

1. Upto Rs. 30,000/- NIL
2. Over Rs. 30,000/- and up to Rs. 1 lacs 20%.

Interest Rate 

Objective

This scheme provides hassle free finance to borrowers in trade and service sector who are willing to furnish mortgage of property of adequate value, for acquiring fixed assets needed for business purposes and/or for build-up of inventory/current assets.

Age

Minimum 21 years ; Maximum: 65 years

Eligibility

• Existing customers;
• New connections including takeovers;
• First generation entrepreneurs as well as promoters of existing units for the purpose of setting up new unit. The following categories of borrowers will be covered:
  1. Small business enterprises,
  2. Retail traders/wholesale,
  3. Professional and Self-employed traders,
  4. Commission Agents.

Quantum of Loan

• Minimum - Rs 1 lac
• Maximum - Rs 5 crores

Margin

50% of the realizable value of the property

Interest Rate 

Interest will be charged at prevailing rate on daily reducing balance at monthly rest.

Objective

The product is a pre-approved term loan facility with option of multiple disbursements for multiple purposes. The product is aimed at facilitating growth among well rated existing customers.

Age

Minimum 21 years ; Maximum: 65 years

Target Group

• All units under Manufacturing sector;
• Under Service sector: Educational Institution, Healthcare Industry (Hospital, Doctors, Pathological Labs, and Nursing Home), Hospitality Industry (Hotels, Restaurants, and Health Club etc), and Transport Operators with minimum 25 vehicles.

Quantum of Loan

20% of total limit sanctioned with a maximum of Rs. 5 crores

Margin

Margin at 25% uniformly.

Interest Rate 

Interest will be charged at prevailing rate on daily reducing balance at monthly rest.

Purpose

To meet all kinds of credit requirement for setting up Greenfield projects under manufacturing, services or the trading sector SC/ST and/or woman entrepreneurs.

• SC/ST and/or woman entrepreneurs above 18 years of age
• Loans under the scheme is available for only green field project (first time venture) of the beneficiary in the manufacturing or services or trading sector.
• In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.

Quantum of Loan

• Minimum – More than Rs. 10 lakh
• Maximum – Rs. 1 crore

Margin

Minimum mandatory margin is 10%.

Interest Rate 

Interest will be charged at prevailing rate on daily reducing balance at monthly rest.