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Eligible Borrowers |
Sole Proprietorships, Partnerships, Co-operative Societies, Private/Public limited companies.
|
a. |
Existing units with or without expansion and new units |
|
b. |
Existing units proposing to modernize and/or expansion with state-of-the-art-technology |
|
c. |
New units which are being set up with appropriate technology |
|
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Quantum Of Loan & Mode Of Assistance |
Assistance shall be need based and NO CEILING on project cost/amount of loan. Assistance shall be by way of Term Loan. |
|
Margin |
15 to 25% of the project cost |
|
Security |
1st charge on fixed assets financed under the scheme Additional security such as personal guarantees, pledge of promoters share holdings as determined by Bank on merits of the case |
|
Incentive Available Under The Scheme |
Interest Reimbursement at the rate of 5% of the interest payment made by the unit to Bank on the loan outstanding. No Interest Reimbursement will be available for the extended period of loan or during the NPA status of the loan. |
|
Repayment |
Within 7 years including moratorium up to 1 year |
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