 Purpose |
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To met the credit requirements of Small Business, Retail traders, Professional and self employed persons, Artisans & Village Industries, Micro and small enterprises.
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| Basis of assessment |
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Small Business & Retail Trade-20% of annual turnover Professional & Self employed: 50% of gross annual income as per IT Return Micro & Small (Mfg): 20% of the projected Annual sales turnover with a minimum margin of 5% of the turnover.
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| Quantum of finance |
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Maximum upto Rs.10.00 lakhs per borrower
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| Margin |
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25% |
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| Security |
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Hypothecation of Stock in Trade, Receivables, Machinery, Office equipment etc., as specified for existing limits
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| Collateral Security & Third party Guarantee |
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The existing securities along with Co-obligation/Guarantee may be retained while converting the account to LUCC account.
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| Validity |
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3 Years subject to annual review
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