What are the criteria for loans for Micro enterprises?
Micro manufacturing units which have investment in plant & Machinery up to Rs.25/- lacs and service units which have investment in equipment up to Rs.10/- lacs are Micro enterprises.
Whether Term Finance and working capital finance is sanctioned by the Bank?
Yes. Both Term Finance and working capital facilities are sanctioned by the Bank.
Whether collateral security is required?
No collaterals/third part guarantee for loans up to Rs.100/- lacs which are covered under CGTMSE.For other accounts which are not covered under CGTMSE, Bank may stipulate collaterals as per Bank’s guidelines.
What are the criteria for loans for Micro enterprises?