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Image UNION PROCURE

Features

Purpose:-

Financing purchases of dealers through Buyer's Bill discounting, relating only to products supplied by the concerned corporate.

ELIGIBILITY:-

Selected authorized dealers of 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 and
  • For others Turnover method up to limit of Rs. 1 cr and Flexible Bank Finance for above Rs. 1 cr
  1. Current ratio = 1.17:1 and TOL/TNW = 4:1
  2. 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

MARGIN, I.E. YOUR SHARE:-

Nil.

Nature of Facility:-

Bills Discounting Scheme in the account of the dealer (Buyer's UBD) drawn by the corporate.

SECURITY:-
  • Prime – DA bills drawn by the Corporate duly accepted by the dealers OR accepted challans/invoice
  • Collateral– Tangible collateral security in the form of land, building, bank deposit etc. to be obtained to cover at least 30% of the advances
  • Personal guarantee of Promoters

INTEREST RATE :-

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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