S.No.

Particular

Details *

1.

Eligibility

The Unit must be eligible and certified as “Start-up” by the concerned Government Authority as per Start-up India scheme launched by Government of India (GoI).

2.

Purpose

To finance for innovation, development, deployment or commercialization of new product, processes or services driven by technology or intellectual property as per Start-up India Scheme.

3.

Nature of Facilities

Term Loan and / or Working capital

4.

Quantum of Finance

Minimum: Rs.0.10crore
Maximum: Rs.5.00crore

5.

Margin

20%  (Working capital as well as Term Loan)

6.

Interest rate

Concession over applicable rate of interest

7.

Processing Charges

Nil

8.

Security

Collateral: Not Mandatory

Guarantee:

• Personal guarantee of promoter directors, partners of the firm/company having sufficient means and of all mortgagors of collateral security, if any.

9.

Repayment

Working Capital: 12 months

Term Loan: Maximum Door to Door repayment shall be 10 years including moratorium period not exceeding 36 months. Repayment can be in monthly / quarterly installments. Interest shall be recovered separately.