Financing growth & transforming rural India.
Bank of Baroda, for rural India, with rural India.
Scheme for Financing Facility under PM Formalization of Micro Food Processing
| Particulars | Guidelines under the scheme |
|---|---|
| Purpose | Finance for upgradation of existing Micro Food Processing enterprises under PM Formalization of Micro Food Processing Enterprises Scheme:
|
| Eligibility | Existing micro food processing units, FPOS, self-help groups, producer’s co-operatives and co-operatives engaged in food processing. |
| Quantum of Loan | Need based funding looking at the requirement of the project/borrower. |
| Nature of Facility | Term loan and Working Capital in the form of Term Loan/Demand Loan/ Cash Credit/Bank Guarantee/Letter of Credit/BP/BD, Export Credit pre-shipment and post shipment. |
| Margin | Minimum 10% of the project cost. |
| Repayment Period | Working Capital: 12 months. Term loan up to 84 months (including up to 12 months moratorium period) subject to annual review. |
| Rate of Interest | Rate of interest ranging from BRLLR+SP+0.50% to BRLLR+SP+5% based on internal credit rating and immovable property security coverage (including both primary and collateral immovable properties). (Present BRLLR: 6.85%) |
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