Fund Based- Additional Working Capital Term Loan
Validity of Scheme
Scheme is valid upto 31.10.2020
The Scheme is a specific response to the unprecedented situation COVID-19 by GOI. It seeks to provide much needed relief to the MSME sector by incentivizing Banks to provide additional credit of up to Rs. 3 lakh crore at low cost, thereby enabling MSMEs to meet their operational liabilities and restart their businesses.
The eligibility criteria under the Scheme are as under:
- All MSME borrower accounts with combined outstanding loans across all Banks/FIs/NBFCs up to Rs. 50 crore as on 29.2.2020, and annual turnover of up to Rs. 250 crore in FY 2019-20.
- The Scheme is valid only for existing customers on the books of the Bank
- Borrower accounts should be classified as Regular, SMA-0 or SMA-1 as on 29.2.2020. Accounts classified as NPA or SMA-2 as on 29.2.2020 will not be eligible under the Scheme.
- The MSME borrower must be GST registered in all cases where such registration is mandatory. This condition will not apply to MSMEs that are not required to obtain GST registration.
- Loans provided to individuals for own business.
- The amount of Loan would be up to 20% of total outstanding loans from all Banks/FIs/NBFCs as on 29th February, 2020 subject to maximum of Rs.10.00 Crs.
- Total Outstanding Amount would comprise of the on-balance sheet exposure such as outstanding amount across WC loans, term loans and WCTL loans. Off-balance sheet and non-fund based exposures will be excluded.
Tenor and Repayment
- The tenor of loans provided under this scheme shall be four years from the date of disbursement, including a moratorium period of one year for principal amount.
- Interest shall, however, be payable during the moratorium period also.
- The principal shall be repaid in 36 instalments after the moratorium period is over.
Rate of Interest
BRLLR + 1% p.a. Subject to Maximum of 7.50%
- No additional collateral for additional credit extended under the Scheme.
- However, the credit under the Scheme will rank second charge with the existing credit facilities in terms of cash flows (including repayments) and securities charged to existing facilities.
Processing Fees / Guarantee Fee Payable: NIL
Baroda Guaranteed Emergency Credit Line (BGECL) Scheme:
- The Scheme is launched in the Bank in line with ECLGS 1.0 scheme of NCGTC guidelines.
- Under this scheme, units with total outstanding from banking system upto Rs. 50 crores, may be allowed additional working capital term loan, maximum upto 20% of fund based outstanding amount, as on 29.02.2020.
The borrowers who are eligible for One Time Restructuring (OTR) as per RBI guidelines dated 05.05.2021 and availed loan under ECLGS 1.0 for tenor of 4 years (including moratorium of 12 months), will now be eligible to avail a tenor of 5 years for their BGECL loan i.e. repayment of interest only for the first 24 months and with repayment of principal and interest in 36 months thereafter.
Further, additional loan Upto 10% of the FB outstanding as on 29.02.2020 shall be allowed to such borrowers in tandem with restructuring as per RBI guidelines, provided they have not availed additional assistance under BGECLS 3.0.They shall not be subsequently eligible for BGECLS 3.0 i.e. borrowers may either avail of this additional 10% or additional assistance under BGECLS 3.0 but not both.
- Borrowers with DPD up to 60 days as on 29.02.2020, are eligible under the scheme.
- Rate of interest: BRLLR+1% p.a. subject to maximum of 7.50% p.a.
- The scheme is launched in the Bank following ECLGS 2.0 Guidelines issued by NCGTC.
- Under this scheme, maximum up to 20% of fund based outstanding amount as on 29.02.2020, are provided as additional working capital term loan. This facility is available to borrowers with outstanding above Rs. 50 crores and up to Rs. 500 crores as on 29.02.2020.
- The borrower’s upto 60 days past due are eligible under the scheme.
- The scheme is available to 26 sectors identified by Kamath Committee and Healthcare sector which are affected by COVID-19.
- Rate of Interest: BRLLR+1% p.a for MSME units and MCLR +1% for Non-MSME.
- The scheme was launched in the Bank following ECLGS 3.0 scheme introduced by NCGTC,
- This scheme covers business units engaged in Hospitality, Travel & tourism, Leisure & Sporting sectors, Civil Aviation sector.
- Under this scheme, loan facility upto 40% of total credit outstanding across all lending institutions as on 29.02.2020 or upto Rs. 200 crores, whichever is less, shall be extended.
- The borrowers with DPD up to 60 days are eligible under the scheme.
- The scheme was introduced in Bank following ECLGS 4.0 Guidelines issued by NCGTC.
- All existing hospitals / nursing homes / clinics and units engaged in manufacturing of liquid oxygen, oxygen cylinders etc. are covered under this scheme.
- Borrowers with DPD upto 90 days as on 31.03.2021 are eligible under the scheme,
- Maximum loan amount: Rs. 2 crores.
- The Rate of interest is capped at 7.50% p.a ( ROI linked to BRLLR / MCLR of Bank)
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Additional Assurance to SHGs- COVID19
Baroda Emergency Credit Line for Farmer Producer Organization (FPO / FPC)
Baroda Special Scheme for existing Agriculture Investment Credit borrowers
Baroda Special Scheme for existing BKCC borrowers impacted by COVID -19
Baroda CoviCare Personal Loan
Baroda COVID Personal Loan 2.0
PM SVANidhi Scheme (a special micro credit facility for street vendors)
Credit Guarantee Scheme for Subordinate Debt (CGSSD)
Loan Guarantee Scheme for COVID Affected Sectors (LGSCAS)