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Image UNION PROCURE

Features

Purpose:-
Financing of receivables through bills discounting relating only to the products supplied by vendor to the concerned Corporate.

ELIGIBILITY:-
Selected vendors supplying to identified large Corporate borrowers of the bank

QUANTUM OF LOAN:-
Minimum Rs. 25 lac and Maximum Rs. 5 cr

APPRAISAL:-
For SSI  units-
Turnover method up to limit of Rs. 5 cr

For others  - Turnover method up to limit of Rs. 1 cr, and Flexible Bank Finance for above Rs. 1 cr

  • Current ratio = 1.1:1 and TOL/TNW = 4:1
  • Total Long term liability to equity should not exceed 2

* Loans and deposits from family members may be treated as quasi equity for arriving at the TNW provided subordination is supported by undertaking in writing

·         TOL/TNW - 4.00:1

MARGIN, I.E. YOUR SHARE:-
Nil.

Nature of Facility:-
Bill Discounting Scheme i.e. UBD.

SECURITY:-

Prime
DA bills drawn by Vendors duly pre-accepted by the corporate (with recourse to the vendor and Corporate in the event of dishonor)

Collateral
Tangible collateral security in the form of land, building, bank deposit etc. to cover at least 10% of the advance

Personal guarantee of Promoters

INTEREST:-
MCLR + 4.15%
Updated as on 10.02.2017 (rate of interest is subject to revision from time to time)

REPAYMENT:-
On maturity of the bill


For further details & financing costs, please contact our nearest Large Corporate Branch

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