SCHEME NO. : 9
|
1. |
Name
of the Scheme |
CREDIT LIMIT UNDER EQUIPMENT FINANCE SCHEME |
|
2. |
Purpose
of Loan |
To cater to the frequent
needs of the companies for installation of equipment during its operation
cycle. |
|
3. |
Eligibility
Criteria |
To profitable and
financially sound companies having good track record of operations and
repayment. i. Standard asset. No default in repayment during the
year. ii. Should have paid atleast one third of the principal amount. iii. Should have been inoperation for the last 3 years and earning adequate
cash profits in atleast 2 (including preceding
year) out of the last 3 years. iv. Average DSCR 2:1 after
the proposed assistance. |
|
4. |
Loan
Limit |
Not
exceeding Rs. 0.50 crore
per year. The loan amount shall also not exceed the amount repaid by the
company against term loan to FIs / Bank(s). |
|
5. |
Security
Margin |
Minimum 25% |
|
6. |
Promoters'
Contribution |
Minimum 30% |
|
7. |
Debt
Equity Ratio |
1.25 : 1 (after availing
the lmit) |
|
8. |
Interest
Rate |
Prevailing
rate of interest. |
|
9. |
Repayment
Period |
Not more than 5 years in quarterly
installments and shall be applicable from the date of first availment. The first installment shall be payable from
the next quarter of availing the disbursement. |