Purpose
To provide hassle free credit to meet working capital requirements related to business activity for expansion of business.
Eligibility
GST registered units which have filed GST returns at least for the last 12 months.
Business entities having an active current account with any Bank since past 12 months.
Individuals, firms, companies, limited liability partnership and not availing working capital facility from any Bank/FI.
GST registered units which have filed GST returns at least for the last 12 months
GST Exempted category borrowers shall be allowed only if GST return is available, with following condition: -
(i) Minimum 75% Collateral security in the shape of SARFAESI compliant immovable property or Bank approved liquid security.
Or (ii) Minimum 50% Collateral security in the shape of SARFAESI compliant immovable property or Bank approved liquid security. Remaining exposure shall be secured by CGTMSE guarantee coverage under Hybrid Model.
Minimum required SME SCORE for loan eligibility is above 52.
Udyam Registration is mandatory.
Loan Amount
Above Rs. 10.00 Lakh to Rs. 500.00 Lakh.
Margin
25% on stock.
25% on Book Debts not older than 3 months.
Assessment of Loan
MPBF for Cash Credit facility shall be allowed based on 25% of the sales reported in the GST returns or the credit summation in current accounts in the last 12 months whichever is lower.
Rate of Interest
Interest rate linked to RLLR (Linked to Repo Rate).