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Union Progress

1. Eligibility All business units irrespective of classification under Micro & Small enterprise category.
2. Purpose To meet business related needs including purchase / construction of business/office premises including Cyber cafe, machinery including Generator Set, equipments, vehicles, other fixed assetsand working capital requirement.
3. Quantum of Finance Maximum limits Upto Rs.2.00 crore
4. Processing Charges Micro & Small Enterprises:
• Up to Rs. 10 lacs: Nil
• Above Rs. 10 Lacs: 50% of applicable rate + Applicable GST.
5. Margin For Working Capital Limits:
• 10% for credit limit up to Rs. 10 lacs.
• 25% for credit limits above Rs. 10 lacs.

For Term Loans:
• Land & Building –35%
• Machinery & Equipment –25%
• Others –25%
6. Security/Guarantee • Primary: All assets created out of Bank's finance shall be charged in favour of Bank by way of hypothecation / mortgage etc.
• Collateral:
  • No collateral should be insisted in case of loans upto Rs.10 lacs extended to units in the MSE sectors (whether eligible under CGTMSE or not)
   • All loans upto Rs. 25 lacs extended to Micro & Small Enterprises and eligible for coverage under credit guarantee scheme of CGTMSE should be covered without any exception.
7. Repayment Working Capital:
12 months subject to renewal as per extant guidelines.Term Loan:
To be repaid within maximum period of 84 monthly instalments inclusive of moratorium period.

Interest to be paid as and when due.
8. Union Laghu Udyami Credit Card (ULCC) Fund Based Working Capital limit upto Rs.10.00lacs can be sanctioned upto 3 years under Union Laghu Udyami Credit Card as per eligibility.
9. Rupay Credit Card Rupay Credit card may be issued by earmarking sanctioned Working Capital limit to individual borrowers and proprietor of the proprietorship Firm for business activity as detailed below:
- Upto Rs.10 Lacs: 20% of sanctioned limit subject to minimum Rs.5000/-and maximum Rs.50000
- Above Rs.10 lacs: 5% of sanctioned limit subject to maximum Rs.1.00 Lacs

• For more details, Please contact our nearest branch.