V CASHEW

 

V-Cashew

1

Purpose

To meet domestic credit requirements of cashew processing units (both existing and new) i.e. construction of factory building, purchase of machinery/equipment /vehicles etc., and working capital requirements

2

Eligibility

 

  • Individuals, Associations, Proprietorship, Partnership concerns, LLPs, HUF, Private Limited Companies, Trusts, Association of Persons (AOP) etc.,
  • Unit should be Micro, Small or Medium Enterprises in manufacturing sector as per MSMED Act, 2006

3

Nature of facility

  •  Working Capital and Term Loan

4

Quantum of Loan minimum/maximum.

 

  • Maximum of Rs. 750.00 lakhs

5

Margin

 

Term Loan:

  • Up to  Rs. 25000/- : Nil
  • Above Rs. 25000/- up to Rs 10 lakhs: 15%
  • Above Rs.10 lakhs up to Rs.1.00 Crore: 20%
  • Above 1 Crore: 25%

Working Capital: 25%

6

Rate of interest

7

Guarantor

  • Personal guarantee of promoter Directors/partners.
  • Personal guarantee of owner/s of property offered as collateral security.

8

Security

Loans covered under CGTMSE(Max.Rs.100 lakhs): 

Hypothecation of equipment/ machinery / vehicle / stock

  • Only primary security associated with business as per CGTMSE Guidelines. No collateral security or third party guarantee shall be obtained.
  • Loans up to Rs.10 lakhs to MSE Sector should be compulsorily covered under CGTMSE

 Loans not covered under CGTMSE:

1. Hypothecation of equipment/machinery/ vehicle/ stock

2.   Collateral: Mortgage of immovable property value of which should be minimum 50% of the limit sanctioned.

3. Personal/Third Party Guarantee: To be obtained as per prevailing guidelines

 

9

Processing fees/other charges

Click here

10

Repayment

 

  • Term loan – Maximum of 10 years.
  • Working capital – Three years (to be reviewed on a yearly basis

11

Application with checklist

Click Here to Download the Application Form/Check List

 

 

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