|
SBP-EASY LOAN
MODIFIED SCHEME FOR MSE
|
|
Eligibility |
All existing
and new customers including
takeover. |
|
Purpose |
The scheme is
envisaged to provide hassle free
loans under priority sector to
small and micro enterprises
(manufacturing and service
sectors, both direct and
indirect, including small road &
water transport operators, small
business and professionals/self
employed persons) and retail
traders.
Property
Dealers/Builders engaged in
sale/purchase/ development of
properties are not to be
considered under the scheme. |
|
Quantum of
Loan |
Min.Rs.5 lacs
Max Rs.1 crore. |
|
Nature of
facility |
Term Loan
repayable in a max of 60 months
and/or cash credit with
auto-reduction of limit on
quarterly basis over a max
period of 60 months.
Drawing Power
Drawing
power: 75% of Current Assets /
FA; limit to be reduced on
quarterly basis. |
|
Security
|
Primary:
Hypothecation of stocks &
receivables.
Collateral:
Equitable mortgage of
non-encumbered non-agriculture
residential/other property. |
|
Stock
Statement & Inspection
|
Stock
statement (not applicable for P
segment loans) at half yearly
intervals in August and February
of each year. In case of
non-submission of stock
statement 1% extra interest to
be charged.
Inspection
half-yearly for SIB segment
annual for P segment. In case
the asset turns NPA, Inspection
will have to be done quarterly. |
|
Interest |
Term Loan :
0.5%+ BPLR = 12.75% (Floating)
Cash Credit :
0.50% + BPLR = 12.75% p.a.
(floating)
(CRA
assessment dispensed with). |
|
Circular No. ADV/SME/17 dated
24.09.2009
Circular
No. ADV/SME/28 dated
12.12.2009 |
