V–Swadesh

 

                                                 V-SWADESH

1

Purpose

For acquisition of land & building for business purpose, replacement of existing machinery items, tools, moulds, jigs, investments in R&D etc., to maintain production and/or for modernization of manufacturing units and to meet working capital requirements of MSME units.

2

Eligibility

MSME units established by the Individuals, proprietorship and partnership concerns, LLPs, HUF, Private Limited Companies, Public Limited Companies

3

Nature of facility

Working Capital & Term loan

4

Quantum of Loan minimum/maximum.

  • Minimum loan amount- Rs.0.25 crores
  • Maximum Loan Amount- Rs.25.00 crores (including both Fund based and Non-Fund Based)

5

Margin

  • Minimum of 20% margin on project cost.
  • For purchase of land & building, minimum margin of 30%. (loan component for land shall not be more than 50% of the total loan component.)
  • 25% and 40% margin on stock & recievables respectively.
  • 15-20% cash margin on Non-fund based limits.

6

Rate of interest

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7

Guarantor

  • Personal guarantee of partners/Karta & Coparceners in case of HUF/ promoter directors
  • Personal guarantee of a third party in case of proprietorship concerns.

8

Security

  • Entire project Assets created out of the loan &
  • Hypothecation of stocks and receivables
  • For loans up to Rs.100 lacs:Collateral security to the extent of at least 50% of total exposure if not covered under CGTMSE.
  • For loans above Rs.200 lacs collateral security to the extent of 50% of total exposure.

9

Processing fees/other charges

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10

Repayment

Term Loan :

  • 8     years including moratorium period.
  • In case of purchase of second hand/used machinery repayment is restricted to the extent of residual life.
  • Working Capital facility for a period of one year from the date of sanction subject to review/renewal.

11

Application with checklist

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