Financing SMEs for acquisition of equipments, services and adopting measures for enhancement of energy efficiency/conservation of energy.
SME units financed by bank as also other units desirous of shifting their account to Bank of Baroda.
Upto 75% of the total project cost, subject to maximum of Rs. 1/- crore. (Minimum amount of loan Rs. 5/- Lakhs).
Project cost may include the following
- Cost of acquisition/modification/renovation of equipment/software.
- Cost of alterations to existing machinery.
- Cost of structural / layout changes.
- Cost of energy audit/consultancy.
- Preparation of Detailed Project Report (DPR).
- For Sole Banking Accounts : Extension of first charge on all fixed assets.
- For Consortium/Multiple Banking Accounts : first charge on equipments acquired out of loan and collateral, if any, with the total security coverage being not less than 1.25.
Grant from IREDA
IRDEA, at present, gives a grant of Rs. 25,000/- for projects costing Rs. 1/- crore or below to meet partial cost of Energy Audit. This grant is available for the first 100 projects (SME Sectors only) approved by them.
Base rate plus 4.00% p.a
Maximum 5 years, including moratorium, if any.