IND SME MORTGAGE
|Target Group||All Micro, Small & Medium Enterprise (MSME) both Manufacturing and Service as per extant definition of Government of India.
Existing & New Units – Proprietorship concern / Partnership Firm / Private Limited Company / Public Limited Company / Limited Liability Partnership Firm (LLP)
|Purpose||Genuine business needs viz. expansion of capacity, purchase of assets meant for the unit.|
|Types of Facility||Term Loan|
|Loan Amount||Minimum Loan Amount:
New customers : 10 lakhs
Existing customers : 1 lakh*
* total of existing limit & proposed limit should be more than Rs. 10 lakh
Maximum Loan Amount: 5.00 Crores
|Margin (Promoter’s contribution)||40% of the security value.|
|Security||Primary Security: Immovable property proposed to be mortgaged
Collateral Security: Extension of charge over existing Factory Land and Building, Plant and Machinery and Current Assets of the unit.
CGTMSE : Not applicable
· Personal Guarantee of property owner/s whose security has been considered.
· Corporate Guarantee of group concern/s which had offered the security.
· Personal Guarantee of Partners / Directors as per extant guidelines.
|Repayment terms||Maximum 120 months (Door to Door tenor)|
|Processing & other charges||At prevailing rates|
( Last modified on Apr 01, 2020 at 04:04:27 PM )