SME Marble Plus - Business

Features

• Target Group:
  • All MSME units engaged in Marble and other stone activity such as manufacturing, processing, carving, polishing, mining and trading.
  • Mining License/ other regulatory approvals to be in place for units to be eligible under the product
• Facilities Available:
  • Cash Credit / Term Loan / Dropline Overdraft
  • Non-Fund Based facilities (LC/BG)
• Quantum of Loan:
  • Minimum: > Rs. 10 lacs
  • Maximum: Rs. 10 crores
• Pricing:Attractive Interest rates based on rating of the Borrower/ External Rating or as per Scheme Specific Rating (if applicable) or as per extant guidelines of the Bank.
  EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%) linked (for MSMEs) & 6 months MCLR linked (for Non-MSMEs)
• Borrower's Margin / Contribution :
  • Working Capital: Stocks: 25%; Receivables: 40%
  • Term Loan: 25%
  • LC & BG: Min. 25% Cash Margin
• Repayment Period:
  • Term Loan / Dropline OD: Max. 120 months (including an initial moratorium not exceeding 12 months, on a case-to-case basis) with Annual Review
  • Working Capital: Annual Renewal
• Processing Fee/ Upfront Fee :
  • Unified Charges:
    1% of the Sanctioned limit
    (Min: Rs. 10,000/-; Max: Rs. 50,000/-)
• Other Charges :NA
• Collateral Security:
  • Minimum 50% of loan amount (including CGTMSE cover).
  • Tangible SARFAESI enabled collateral security (Non-agricultural property) belonging to the borrower or guarantor. The tangible collateral security refers strictly to realizable value of Collateral security. It should be Equitable/Registered mortgage of non-encumbered residential/commercial/industrial property in the name and possession of the mortgagor. Third party collateral securities from close relatives may be obtained. Close relatives will cover Father, Mother, Spouse, Son, Daughter, Real Brother & Real Sister.
  • No Second Charge or Pari-Passu charge will be extended to other Bank/FI.
  • Eligible units to be covered under CGTMSE as per CGTMSE guidelines upto Rs.5 Crores. Customer has to bear the Guarantee Fee. CGTMSE flag should be enabled at account level in CBS.