SME Short Term Loan

Purpose

• To meet temporary liquidity shortfall/mismatch in the line of business activity. This facility is not to be extended for other purposes like repayment of loans of other banks or institutions, unsecured loans, etc.

Borrower Group

• MSMEs in regulatory and expanded.
• Exclusion sectors: Real estate sector, power sector, education sector IT sector.

Eligibility Criteria

• Satisfactory credit rating (BOB-5 and above) without continuous decline for the last three years and for 4 half years for accounts where credit rating is done on a half-yearly basis.
• Latest financial documents with satisfactory performance.
• Satisfactory dealings with the bank for at least three years without any major inspection/audit irregularities.

Loan Amount

• Minimum: Rs.10 lakhs
  

  Maximum: Rs. 250 lakhs

• Note: Adhoc facility and short term loan cannot be concurrent.

Period

• 12 months including the moratorium period.

Unified processing, upfront & documentation charges

• 25% concession in the applicable charges.

Competitive pricing linked to Repo rate/MCLR.