The product is designed with modified assessment for MSME borrowers with a satisfactory history in CIR/CRILC/RBI Defaulter’s list/Willful defaulter’s list/Probe42/SAL list by ECGC.

Particulars
Details
Eligibility Norms
Parameters
Qualifying Criteria
Business Vintage
3        years
Positive PAT
For 2 out of 3 years.
Positive TNW
For last 3 years.
Banking Vintage
24 months banking relationship with any bank.
Minimum Rating
BR BB & FR 1 to FR 2
Products
  1. Cash Credit
  2. Term Loan
  3. Non- Fund Based Facilities(LC/BG/etc)
Purpose
Working capital requirements of the business/ expansion/diversification of existing business, repair, increase in capacity or for purchase of machinery/equipment or purchase of industrial/commercial property for own use.
Quantum of finance
Minimum: Rs.10.00 Lakhs- Maximum: Rs.1000.00 Lakhs.
Security
Primary Security :
  • Stock and Book debts for WC facilities
  • Fixed/immovable assets acquired out of loan proceeds in case of Term Loan
  • Goods purchased under LC/BG/LOC for LC/BG/LOC
Collateral Security:  
  • Manufacturing Concerns: Minimum 75%
  • Trading & Services: Minimum 100%.
Rate of Interest
12 Month MCLR + Spread
Spread varies from 0.50% to 2.50% based on the internal rating of the borrower.
Processing fee
 CCOL
0.25% +taxes p.a
Term Loan
0.50%+ taxes p.a
NFB
0.25%+taxes p.a
Essential documents to be collected
  1. Application form (inclusive of declaration on multiple banking, beneficial owner)
  2. KYC (as per constitution)
  3. Income documents (Balance Sheet, Profit & Loss, Audited/ CA certified, as applicable and schedules thereto) +ITR(If AFS is not available)+ Tax audit report + Provisional statement +Projections for currency of the loan(only for Term Loans)
  4. GST/VAT returns for 12 months.
  5. Udyog Aadhar Number ,if any.
  6. Bank statements of all bank accounts.
  7. Obligation details of loans of which EMI is reflecting in Bank statement provided and customer claims that those are closed.
  8. Property documents
  9. INW statements of applicant/co-applicant/promoter/guarantor etc
  10. Other documents (residence ownership proof, qualifications proof)
  11. Statutory registration documents