Eligibility |
Individuals and firms managing a business enterprise established mainly for the purpose of providing any service other than professional services. |
Extent of Finance |
Individual limits for working capital will be fixed depending upon the requirement of activities pursued. Advances for acquisition, construction, renovation of House Boats and other tourist accommodation will be financed. Advances for distribution of mineral oils will also be considered under this category |
Rate of Interest |
As per prevailing rates from time to time |
Margin |
No margin up to Rs.25000/- 15 to 25 percent for credit limits exceeding Rs.25000/- |
Security |
Assets created out of Bank’s finance Collateral security as per Bank’s discretion |
Category: SSI registraion
Loans to Micro & Small Enterprises (MSEs)
Eligibility |
Any individual / partnership firm / Public or Private Ltd. Companies desirous of promoting MSEs (Manufacturing sector) with investment in Plant & Machinery not exceeding Rs. 5 crore and Medium Enterprises with investment in plant & Machinery is above Rs. 5 Crore and upto Rs. 10 crores. |
Extent of Finance |
Need based (both fund based and non-fund based) |
Margin |
Working Capital/ Medium Term Loan a) No margin up to Rs.25000/- b) Credit limit over Rs.25000/- |
Flexible approach:15% – 25% depending on the merits of each case |
Security |
Primary: i) Assets created out of Bank finance Collateral:
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Interest |
As per prevailing rates from time to time |
Export Finance |
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CREDIT GURANATEE FUND TRUST SCHEME FOR MICRO & SMALL ENTERPRISES (CGTMSE)
SALIENT FEATURES: | |
CGTMSE was set up jointly GOI and SIDBI The scheme is extended to all New and Existing units of Micro and Small Enterprises The scheme is available both under Manufacturing Sector and Service Sector Eligible loan limit is up to Rs. 50.00 lakhs No collaterals including the third party guarantee The Maximum guarantee cover on any loan is 75% of the loan amount. The loans to Micro enterprises up to Rs.5.00 lacs and loans to MSE operated by women entrepreneurs are covered up to 80% of the loan One Time upfront guarantee fee and Annual Service fee at specified rate on the credit facility has to be paid to the Trust before 31st of May every year |
Micro and Small Enterprises (MSEs)– Definition of Micro, Small and Medium Enterprise Manufacturing and Service Segments.
Manufacturing Sector | Services Sector | ||
Micro Enterprise | The investment in Plant and machinery ( Original Cost) does not exceed Rs 25 lakhs | The investment in Equipment does not exceed Rs 10 lakhs | |
Small Enterprise | The investment in Plant and machinery ( Original Cost)is more than Rs 25 lakhs but does not exceed Rs 500 lakhs | The investment in Equipment is more than 10 lakhs but does not exceed Rs 200 lakhs | |
Medium Enterprise | The investment in Plant and machinery ( Original Cost) is more than 500 lakhs but does not exceed Rs 1000 lakhs | The investment in Equipment is more than Rs 200 lakhs but does not exceed Rs 500 lakhs | |
Business Loans (Small Scale Industries) – CGTSI
ING offers loans to Small Scale Industries at competitive interest rates without any collateral security.
Credit Guarantee Fund Trust for Small Industries [CGTSI] ING is one of the member lending banks for CGTSI. ING Ltd offers loans of up to Rs 25 lakhs to SSI units under CGTSI at competitive interest rates without any collateral security and / or third party guarantee. In addition the guarantee fee payable to CGTSI would be debited to the account. Minimum Loan Amount: No Minimum Amount Maximum Loan Amount: Rs 25 lakhs Eligibility: The SSI units engaged in activities like manufacturing, processing or SSSBEs, including Information Technology and / or Software industry are eligible. |
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Collateral: No additional collateral is required
For more details, write to us at |
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