SME Marble Plus

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SME Marble Plus

To provide finance to the Marble, Felspar, Quartz and other Stone Units for financing their working capital / capital expansion (capex) requirements related to their business activity

Features

  • Target Group: All SME units engaged in Marble and other stone activity such as manufacturing, processing, carving, polishing, mining and also trading. 
  • Type of facility: Cash Credit / Term Loan / Dropline Overdraft / Non-Fund Based facilities (LC/BG).
  • Quantum of Loan:
    • Minimum: above Rs.10 lakhs
    • Maximum: Rs.10 crores
  • Margin (%):
    • Working Capital: Stocks: 25%; Receivables: 40%
    • Term Loan: 25%
    • LC & BG: Min. 25% Cash Margin 
  • Pricing: Competitive Interest Rate linked to Collateral coverage & Internal rating
  • Repayment Period (Term Loan / Dropline OD):
    • Max. 120 months (including an initial moratorium not exceeding 12 months)
  • Unified Charges:
    • 1% of the Sanctioned limit (Min: Rs. 10,000/-; Max: Rs. 50,000/-)

Eligibility

  • Existing / New units engaged in Marble and other stone activity such as manufacturing, processing, carving, polishing, mining and also trading.
  • Takeover of existing units from other Banks/ FIs with satisfactory track record

Terms & Conditions

Collateral Security:

  • Minimum 50% of loan amount, in the form of tangible SARFAESI compliant collateral security (Non-agricultural property) belonging to the borrower / guarantor.
  • Eligible units to be covered under CGTMSE, as per CGTMSE guidelines.
  • No Second Charge or Pari-Passu charge will be extended to other Bank/FI

Last Updated On : Tuesday, 23-11-2021

Interest Rates

8.50%* p.a.

w.e.f. 17.05.2023

*T&C Apply.

 

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