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Baroda E-Business Pack

Eligibility

  • Minimum -02- years in existing business activity/ies with minimum 10% of the total sales of last 6 months should be by way of digital mode and the Firm / Company must be profit making (Cash Profit) for the last two years.
  • Addition: promoter's Equity of minimum 0.333 times (1/3rd of credit facilities) requested above Rs. 10.00 lac (DE ratio should be minimum 3:1)

Purpose

  • Cater to the needs of finance of firms / companies / undertaking digital as well as non-digital transactions of MSME Service sector and retail trade units.
  • Linkage with POS machine / OR Code / UPI based app / payment gateway for digital transactions.

Type of Facility

  • Overdraft / Demand Loan / Term Loan / Composite Loan for Working capital requirement / financing capital expenditure to MSME Regulatory.

Limit

  • For working capital and Term Loan Maximum upto Rs.500 Lac (Out of which Term Loan Limit will be maximum upto Rs.100 Lac)

Period

  • Overdraft: 12 months
  • Demand loan / Term Loan: Maximum repayment period shall be up to 60 months (including maximum moratorium period of -06- months)

Margin

  • Working capital: Minimum 6.25% on projected / accepted non-digital turnover and 7.50% of the portion of turnover which is projected to be digitally transacted.
  • Demand Loan / Term Loan: 25%

Concessions

  • 0.25% concession on applicable rate of interest as per bank’s extant guidelines will be allowed subject to minimum interest @ MCLR + SP

Top up Loan

  • Top up loan in case of Term Loan / Demand Loan, may be considered after a lock in period of 12 months (from the date of 1st installment ) subject to regular repayment / satisfactory conduct of account in past.

Other Guidelines for Borrowers under Micro & Small Segment

  • No collaterals are to be obtained for limits up to Rs.10.00 lacs and all eligible loans will be covered with NCGTC guarantee scheme under PMMY loans (Pradhan Mantri Mudra Yojana).
  • Credit limits above Rs.10.00 Lac to Rs.200.00 Lac to other beneficiaries engaged in the activities of service sector (other than Retail Traders activity) will be collateral free and eligible loans will be covered with CGTMSE guarantee scheme.
  • Credit limits above Rs. 10.00 lac to Rs. 500.00 lac to general Traders ( Retail Traders ) other than mentioned above in other Guidelines, will be collateraly secured by way of, fixed deposit, LIC/KVP/Liquid Security,Equitable mortgage of non agriculture land standing in name of Enterprise or proprietor/ partner/ Director/Close Relatives with realizable value cover minimum of 50% of credit facility sanctioned.

Rate of Interest

Competitive Pricing Linked to tenor based MCLR

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