You can avail Union High Pride loan for the following purposes:

• Term Loans for purchase of Machineries/equipments, construction of industrial shed/Gala for industrial units
• Working Capital needs of mid segment industrial firms
• Working Capital/Term Loans in case of Trading units/Business Enterprises/ Service units

Companies / Trading firms / Business Enterprises/ Service units requiring credit facilities above Rs. 5.00cr up to Rs. 25.00cr

Mid Corporate Enterprises with Investment in Plant & Machinery above Rs. 1 cr up to Rs. 10 cr Credit Rating of unit should be CR-4 or above

• Above Rs. 5 cr to Rs. 25 cr.

20% of Working Capital and Term Loan.

Working Capital / Term Loan.

For Working Capital - based on Flexible Bank Finance method.

For Term Loan - as per extant guidelines for assessment of Term Loans.

Ideal acceptable Financial Ratios:

• Current Ratio - 1.10:1
• Debt Equity Ratio - 3.00:1
• TOL/TNW - 4.00:1

Prime : Hypothecation of current assets in case of Working Capital facilities and first charge on Plant & Machinery / equipment in case of Term Loan.

Collateral : EM of factory land and building, wherever available. Advance to be covered by collaterals covering at least 20% of the exposure (FB+NFB).

Personal guarantee of Promoters.

INTEREST RATE :- (Base Rate - 10.50%   w.e.f. - 01-05-2012) 

For Term Loans - not to exceed 7 years including moratorium period.

1. Multicity cheque books to be made available to “Union High Pride” borrower subject to fulfillment of criteria
2. Time frame for sanction/renewal of “Union High Pride” proposals- within 15/7 days respectively from the date of submission of proposal by the party for fresh and existing accounts
3. “Union High Pride” Borrower having multi-city trade dealing can utilize our CMS product on attractive terms

• The CR and TOL/TNW ratio of the borrower unit should be in line with norms fixed for such unit, as per the latest audited balance sheet which should not be older than 12 months
• The unit should have earned post-tax profits in each of the immediately preceding 2 years
• The underlying assets should be distinctly identifiable
• The average DSCR for the project should not be less than 1.50 at the time of take-over or for the remaining period of advance
• The term loan proposed to be taken over should not have been rephrased by the existing FI / bank after commencement of commercial production

·      1). Proof of identity (any of the following)

• Passport
• PAN Card
• Employee identity card
• Any other valid proof

·       2)  Proof of address (any of the following)

• lectricity bill
• Telephone bill
• Ration card
• Any other valid proof
• PAN card Etc.

·         To download the application form, please click here

A. Companies / Trading Firms / Business Enterprises / Service units with investment in plant & machinery from Rs.1.00 crore to Rs.10 crore requiring credit facilities above Rs.5.00 crores and upto Rs.25.00 crores are eligible under the scheme subject to the internal credit rating C4 and above.

A. The minimum margin stipulated for Working capital & Term Loan facilities under the scheme is 20%.

A. The repayment of term loan should not exceed 7 (seven) years including the moratorium period.

A. Advance to be covered by collaterals covering at least 20% of the exposure (FB & NFB).

A. Companies / Firms rated by CRISIL / SIDBI (SMERA) having highest rating and 2nd highest rating can be given incentive of 0.50% and 0.25% respectively in interest rates.