1.

Eligibility

All business enterprises irrespective of constitution (Proprietorship/Partnership/Companies/Trust/Association etc) other than individuals and HUF engaged in business activity for minimum last two years.

Enterprises engaged in speculative activities/Real Estate activities are not eligible for finance under this scheme.

2.

Purpose

To meet working capital requirements for business activity.

For Shoring-up of Net Working Capital

For purchase of plant & machinery/Equipment

Financing repayment of high cost debts

3.

Facility

Term Loan/Overdraft

4.

Quantum

Minimum: Rs 0.10 Crore

Maximum: Rs 10.00 Crore

5.

Margin

50% of the Net Realisable Value (NRV) of the property as per valuation report i.e. value of property should be minimum 200% of the proposed loan amount.

6.

Guarantee

Personal guarantee of the partners / directors /promoters (Other than independent/professional director) and Personal guarantee of property owners

7.

Repayment

Term Loan to be repaid in maximum 120 months inclusive of moratorium period not exceeding 6 months. Interest is to be paid as and when due.

Overdraft facility is for a period of one year. However, it may be further extended subject to review/renewal of the facility by competent authority on yearly basis.

The loan repayment must end atleast 5 years before the end of the residual life of the property as per Valuation report.