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V-Cashew
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1
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Purpose
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To meet domestic credit requirements of cashew processing units (both existing and new) i.e. construction of factory building, purchase of machinery/equipment /vehicles etc., and working capital requirements
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2
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Eligibility
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- Individuals, Associations, Proprietorship, Partnership concerns, LLPs, HUF, Private Limited Companies, Trusts, Association of Persons (AOP) etc.,
- Unit should be Micro, Small or Medium Enterprises in manufacturing sector as per MSMED Act, 2006
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3
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Nature of facility
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- Working Capital and Term Loan
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4
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Quantum of Loan minimum/maximum.
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- Maximum of Rs. 750.00 lakhs
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5
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Margin
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Term Loan:
- Up to Rs. 25000/- : Nil
- Above Rs. 25000/- up to Rs 10 lakhs: 15%
- Above Rs.10 lakhs up to Rs.1.00 Crore: 20%
- Above 1 Crore: 25%
Working Capital: 25%
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6
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Rate of interest
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7
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Guarantor
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- Personal guarantee of promoter Directors/partners.
- Personal guarantee of owner/s of property offered as collateral security.
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8
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Security
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Loans covered under CGTMSE(Max.Rs.100 lakhs):
Hypothecation of equipment/ machinery / vehicle / stock
- Only primary security associated with business as per CGTMSE Guidelines. No collateral security or third party guarantee shall be obtained.
- Loans up to Rs.10 lakhs to MSE Sector should be compulsorily covered under CGTMSE
Loans not covered under CGTMSE:
1. Hypothecation of equipment/machinery/ vehicle/ stock
2. Collateral: Mortgage of immovable property value of which should be minimum 50% of the limit sanctioned.
3. Personal/Third Party Guarantee: To be obtained as per prevailing guidelines
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9
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Processing fees/other charges
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Click here
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10
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Repayment
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- Term loan – Maximum of 10 years.
- Working capital – Three years (to be reviewed on a yearly basis
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11
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Application with checklist
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Click Here to Download the Application Form/Check List
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