Loans to Micro & Small Enterprises (MSEs)

Eligibility

Any individual / partnership firm / Public or Private Ltd. Companies desirous of promoting MSEs (Manufacturing sector) with investment in Plant & Machinery not exceeding Rs. 5 crore and Medium Enterprises with investment in plant & Machinery is above Rs. 5 Crore and upto Rs. 10 crores.

Extent of Finance

Need based (both fund based and non-fund based)

Margin

Working Capital/ Medium Term Loan a) No margin up to Rs.25000/- b) Credit limit over Rs.25000/-

Flexible approach:15% – 25% depending on the merits of each case

Security

Primary: i)   Assets created out of Bank financeCollateral: Obtention of collateral Security exempted Up to Rs. 5 lacs Over Rs. 5 lacs and up to Rs. 25 lacs, based on good track record and satisfactory financial position Over Rs.25 lacs at the discretion of the Bank

Interest

As per prevailing rates from time to time

Export Finance

Establishment of Letter of Credit Pre-shipment finance Post-shipment finance Assistance against Duty draw back

 

SSI Registration, MSME Registration