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image  Union Guaranteed Emergency Credit Line: 1.0 & 2.0

Union Guaranteed Emergency Credit Line (UGECL)

Sl.No Parameter Details
1. Eligibility a) All Business Enterprises /MSME borrower accounts with combined outstanding loans across all MLIs (Banks/NBFCs/FIs) of up to Rs. 50 crore as on 29.2.2020

and
Annual turnover of upto Rs.250 Crore for FY 2019-20 are eligible for the scheme.

b) Loans provided to Individuals, Business Enterprises / MSMEs constituted as Proprietorship, Partnership, registered company, trusts and Limited Liability Partnerships (LLPs) shall be eligible for loan under the Scheme (including PMMY).
2. Purpose To provide 100% guarantee coverage for the UGECL, which shall be a pre-approved sanction limit of upto 20% of loan outstanding as on 29th February, 2020 to eligible borrowers, in the form of additional working capital term loan facility (in case of banks and Financial Institutions), eligible Business Enterprises / Micro, Small and Medium Enterprise (MSME) borrowers, including interested PradhanMantri MudraYojna (PMMY) borrowers , in view of COVID-19 crisis, as a special Scheme.
3. Quantum of Finance The amount of UGECL funding to eligible Business Enterprises/ MSME borrowers would be in the form of additional working capital term loan facility up to 20% of total outstanding loans up to Rs. 50 crores as on 29th February, 2020, subject to the borrower meeting all the eligibility criteria’s.
4. Margin Nil
5. Facility Working Capital Term Loan facility
A separate loan account should be opened for the borrower, distinct from the existing loan account(s), for coverage under the Scheme.
6. Repayment • The tenor of loans provided under UGECL shall have a maximum tenor of four years from the date of disbursement (including moratorium).
• Moratorium period of up to one year (maximum) on the principal amount shall be provided to borrowers for the UGECL funding during which interest shall be payable as and when debited.
7. Security The additional WCTL facility granted under UGECL shall rank pari-passuwiththe existing credit facilities, in term of cash flows and securities, with charge on the assets financed under the Scheme to be created within a period of three months from the date of disbursal.
8. Assessment As per the scheme norms.
9. Validity of Scheme The Scheme would be applicable to all loans sanctioned under UGECL during the period from the date of issue of these guidelines up to 31.10.2020 (or as per information for withdrawal of the scheme received from NCGTC, GoI).
10. Other Parameter In view of the lockdown and restrictions in the movement in many parts of the country, eligible customers can also apply / can approach directly to Branch/ Offices or through e-mail/ Marketing officer/ Bank Mitras and other digital mode of communication for UGECL facility.

• For more details, Please contact our nearest branch.



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