Baroda SME Loan Pack
Baroda SME Loan Pack provides single line of credit for meeting SME borrowers' working capital as well as long term requirements within the overall limit approved by the bank.
Its purpose is to provide hassle free credit for working capital (fund based and non-fund based) as also long term requirements, taking into account nature of business, cyclical trends, cash flow projections, peak time requirements and any eventuality of unforeseen spurt in the business. All Enterprises, i.e. Micro, Small & Medium Enterprises, as defined under MSMED Act, 2006, and other entities with annual sales turnover up to Rs. 150/- crores exclusively banking with our bank/new borrowers desirous of having sole banking arrangement with our bank. The composite limit of the loan is 4.5 times of borrowers' tangible net worth as per last audited Balance Sheet, or, Rs. 5.00 Crores, whichever is lower. The SME has to cater for 25% margin money while the rate of interest is linked to the credit rating of the borrower.
Bank of Baroda SME Short Term Loans
Purpose of short term loans is to meet temporary shortfall / mismatch in liquidity, for meeting genuine business requirements only.
The loan offers upto 25% of the existing Fund based Working capital limits (depending on the Credit Rating), subject to a minimum of Rs. 10 Lakhs and maximum of Rs. 250 Lakhs. It's to be repaid in 12 months including moratorium period.
Security
- First charge / Equitable mortgage of fixed assets of the company / firm or extension of existing first charge / equitable mortgage of fixed assets, ensuring that there is a minimum asset cover of 1.25.
- Extension of Charge on current assets for the additional facility ensuring that adequate drawing power is available.
- Extension of all existing guarantees of Directors / Third party guarantees to cover the additional facility.
Bank of Baroda SME Gold Card
Baroda SME Gold Card envisages provision of additional limit of 10% of the assessed eligible bank finance for Working Capital to Micro, Small & Medium Enterprises as per Regulatory definition and all other enterprises with annual sales turnover up to Rs. 150/- crores, on request along with regular application for Working Capital limits to meet emergent requirements.
Bank of baroda provides hassle free on the spot assistance to take care of borrowers emergent requirements and tie up temporary mismatch in liquidity arising out of delayed payment by buyers, tax payment, execution of bulk orders, etc. The card is made available for SMEs with accounts in Standard Category for last 2 years, with credit rating of BOB-5 and above and enjoying working capital limits of Rs. 25/- Lakhs and above. The card allows an additional limit of 10% of the assessed eligible bank finance for working capital.
PNB SME Sahayog Scheme
This scheme provides financial assistance to meet the unforeseen expenditure of SME enterprises having a good track record. Collateral security has to be obtained as per the bank's extant guidelines.
Its purpose for contingencies like additional purchase of raw material including packing material/ handling charges for the execution of bulk orders, taking part in national / international trade exhibition, payment of consultancy charges, machinery repair, labour payments, etc. The loan is available for Existing borrowers whose accounts have been classified as standard assets for the last three consecutive financial years and are enjoying credit limits above Rs. 20 lakh. The borrowers are free to utilize the facility upto 12 times in a year. Each amount of withdrawal is repayable within maximum period of two months and there should be a gap of 15 days between the date of complete repayment of outstanding and the next withdrawal. Collateral security to be obtained as per bank's extant guidelines. The charge on available security by way of primary/ collateral to the existing sanctioned limits will be extended to cover the clean cash credit limit.
Canara Bank Scheme for Energy Savings for SMEs
Canara Bank has a number of finance schemes for the benefit of the small and medium-sized units (SMEs) in the country, across different industries. The bank offers finance to SMEs to meet their capital expenditure, for their working capital requirements, as well as for other purposes.
Its purpose for acquiring/adopting energy conservation/savings equipments/measures by SMEs. Cost of energy for the unit should constitute not less than 20% of the total cost of production. The scheme offers a maximum Rs 100 lakhs in the form of Term loan.
The schemes guarantee cover available under CGMSE of CGTMSE. Margin money should be 10% of the project cost.
Canara Bank Reimbursement of Investment made in Fixed Assets by SMEs
Canara Bank offers a SME scheme which has been tailor made for SMEs to get reimbursement of investment made in fixed assets by SMEs.
Its purpose to reimburse the investment made on fixed assets, excluding land and building. Capital expenses incurred towards creation/acquisition of fixed assets (other than land and building) during the immediately preceding 6 months may be reimbursed. The loan is available to all existing clients with good track record for at least a period of preceding three years. The facility will be permitted as TERM LOAN. The loan offers a maximum amount upto Rs. 50 lakhs for new machinery and maximum of Rs 15 lakhs for second hand machinery which is not more than 2 years old from the original date of purchase. For arriving at the quantum of finance, written down value as declared in the financial statements (audited or unaudited as the case may be) or market price, whichever is less is to be reckoned. The margin money should be 25% of the investment made in respect of purchase of new machinery. 50% of the investment made in respect of purchase of second hand machinery.
IDBI Bank SME Loan
IDBI Bank not only offers finance to MSMEs but also takes care of their all banking needs under one roof with full range of banking products and services. The Bank is in constant endeavor to introduce new products with a view to offer wide array of solutions to the MSME Entrepreneurs.
All Micro/ Small Enterprise (manufacturing/ services) as defined under MSMED Act and by RBI are eligible for this scheme. The loan offers a maximum amount upto Rs. 1 Crore. It's pricing Linked to Bank Base Rate and Rating. The loan can be either fund based for working capital requirements, term finance or non fund based like bank guarantee or letter of credit. No Collateral / Third party guarantee is required for the loan.
IDBI Bank SME Hosiery Current Account
Each industry has its own financial challenges and roadmaps. IDBI Bank offers a unique SME Hosiery Current Account which is tailor- made keeping in view the specific requirements of the SME Textiles Hosiery units across the country.
UCO Bank Udyog Mitra
This scheme is specially designed to encourage first line as well as existing entrepreneurs by offering hassle free financial assistance at liberal and concessional terms for undertaking production, manufacturing or service related economic activities under Micro & Small Enterprise Sector.
The scheme offers Term Loan / Cash Credit / Composite Loan / Bank Guarantee Limit (need based) facilities. Borrowers should be technically qualified, promising and well trained/experienced person/ persons having entrepreneurial ability including green horn entrepreneurs, running manufacturing and service enterprise under Micro & Small Enterprise as per the definition of MSMED Act 2006.
The scheme offers a loan Above Rs. 25.00 lakh and upto Rs. 500.00 lakh for investment in Plant & Machinery of Manufacturing Enterprises and Above Rs. 10.00 lakh and upto Rs. 200.00 lakh for investment in equipment of Service Sector Enterprises. The loan is without third party guarantee and also without any collateral compulsorily covered under CGTMSE.
SBI SME Collateral Free Loan
The State Bank of India offers Collateral free loan for viable projects of micro and small enterprises in manufacturing and service sector with maximum guarantee cover up to Rs.1.00 crore under CGTMSE guarantee scheme for working capital & Term Loan (FB+NFB) facilities.
The scheme offers Cash Credit /Term Loan/ Letter of Credit/ Bank Guarantee facilities.
Security
- Primary Security: - Assets created out of bank finance
- Existing assets of the borrower as per definition of CGTMSE
- No collateral
- No third party guarantee
Repayment Period
- Working Capital (WC): One year, repayable on demand. Working capital limits will be renewed every two year. However, performance of the unit and conduct of account will be reviewed annually for continuation of limits.
- Term Loan: Maximum Seven Years including moratorium period.
