V CASHEW

 

V CASHEW - CASHEW PROCESSING UNITS / INDUSTRY:
 

Purpose
To meet domestic credit requirements of cashew processing units (both existing and new) i.e. construction of factory building, purchase of machinery/equipments/vehicles etc., and working capital requirements
Eligibility
Individuals, Associations, Proprietorship, Partnership concerns, LLPs, HUF, Private Limited Companies, Trusts, Association of Persons (AOP) etc., registered under MSMED Act, 2006
Quantum of finance
Maximum of Rs 500 lakh
 
Security
Loans covered under CGTMSE:
No collateral security or third party guarantee shall be obtained.
Only Hypothecation of equipments / machinery / vehicle / stock
 
Loans not covered under CGTMSE:
  1. Hypothecation of equipments/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
Margin
Term Loan:
 
i)   Up to Rs 25000/- : Nil
ii)  Above Rs 25000/- up to Rs 10 lacs: 15%
iii)  Above 10 lacs upto 1.00 Crore: 20%
iv)  Above 1 Crore: 25%
 
Working Capital: 25%
 
Rate of Interest
Loans covered by CGTMSE - BR+0.30=9.95%
 
Loans not covered by CGTMSE - BR+1.30=10.95%
 
Insurance
The full value for the hypothecated stock/movables and fixed assets shall be insured for fire, riot and wherever required against other appropriate hazards with bank clause
Repayment / Renewal / Review
Working Capital:
Account to be reviewed every 12 months and renewal once in 3 years.
 
Term Loan:
Maximum repayment period of 7 to 10 years including moratorium period not exceeding 12 months.
Interest to be serviced during moratorium period also.
Term loan to be repaid in equated monthly instalments.
 

 
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