To provide Bank Credit to SC / ST and / or Women Entrepreneurs to set up Greenfield Enterprise in manufacturing, services or the trading sector.
WC upto Rs.10 lakh – In the form of Overdraft Above Rs.10 lakh
WC upto 1 Crore – In the form of Cash Credit
Composite Loan: (inclusive of term loan and working capital) Between Rs.10 lakh and upto Rs.100 lakh
- Minimum Loan amount – Rs.10 lakh per borrower
- Maximum Loan amount – Rs.100 lakh borrower
- SC / ST and / or Women Entrepreneurs above 18 years of age.
- Loans available only for green field project i.e., first time venture of the beneficiary in the manufacturing or services or trading sector.
- In case of non individual enterprises, 51% of the shareholding and controlling stake should be held by either SC / ST and / or Women Entrepreneur.
Margin :
- 25% of the Project cost – In case of availing subsidies in convergence with central / subsidy schemes minimum promoter’s contribution should not below 10%
Repayment :
- Working Capital in the form of OD / CC: 1 year
- Term Loan / Composite Loan: Maximum 7 years excluding Holiday period (repayment holiday upto 18 months)
Security :
- Primary :
- Working Capital Limits: Stock & Receivables.
- Term Loan : Assets acquired & created out of Loan.
- Collateral :
- Primary Security:
- For loan amount of Rs.10 lakh – No security. Covered under the Guarantee of Credit Guarantee Scheme for Stand-up India Loans (CGSSI).
- Credit limits of above Rs.10 lakh shall be secured by Collateral security in the form of land and building not less than 75% of loan amount or Guarantee of Credit Guarantee Scheme for Stand-up India Loans (CGSSI).
Note: No collateral shall be taken if loans covered under Credit Guarantee Scheme for Stand-up India Loans (CGSSI).
Interest :
Fees & Charges
- Term Loan: - 1.00% of the Limit sanctioned + taxes
- Working Capital: 0.50% of the Limit sanctioned + taxes applicable