To finance need based working capital requirements of GST registered MSMEs
a. All MSME units engaged in manufacturing/service/trading activity with Udyam Registration
b. Unit avail credit facilities under Sole Banking arrangement only
c. To secure internal credit rating CR-1 to CR-4
d. The borrower should be in possession of requisite registration under GST Act viz. i.e. Provisional Registration (Form GSTREG-25) or Final Registration (Form GSTREG-06)
e. Must have filed last 12 month GST returns (Either monthly or annual return) with exception to newly established MSME units where the requirement is filing of GST return for minimum 3 months (monthly return) or for minimum one quarter (quarterly return)
f. Minimum 80% of the turnover in Current/ CC accounts should be against the sales mentioned in the GST Return.
Working Capital (Fund Based & Non-fund Based)
Minimum: Above Rs 10 lakh
Maximum: Rs 5.00 Crore
30% of the annualized projected turnover based on Sales as per GST return and/or turnover routed in the account.
Primary: Hypothecation of Stock & book Debts
Collateral: Starting from 50% linked to internal rating & CMR
For more details, please contact our nearest branch.
Copyright © 2022 Union Bank of India. All rights reserved
For more information about SUD Life Insurance products click here