| Eligible Borrowers |
i) All trading entities who have regular business
ii) Micro and small enterprises [Manufacturing] |
| Constitution |
Proprietory/Partnership/Limited Companies |
| Eligibility |
The firm should be in business atleast during the last
two years and audited financial statements atleast for
one year should be available
VAT Registration Certificate / Firm’s Registration
Certificate should be available.
The credit facility should be considered only on sole
banking basis.
The business entity should be properly identified and
KYC rules should be followed |
| Quantum of Advance |
Minimum Rs.15 lakhs &
Maximum Rs.75 lakhs |
| Facility |
Can be considered as OLCC/ Demand Loan/ Term
Loan/ Bills Financing |
| Purpose |
For Working capital / Acquisition of fixed assets |
Repayment in case of
Demand/Term Loan |
Ranging from 24 months to 60 months
[in case of Demand Loan/ Term Loan, actual PBDIT
should not be less than 1.10 times of proposed annual EMI.] |
Application and collection of
Interest |
On monthly basis |
| Renewal |
OLCC accounts are renewable every year |