“EMERGENCY RESPONSE FACILITY” LOAN SCHEME
Purpose
To meet the permanent working capital requirement of affected MSMEs under COVID 19 pandemic.
Eligible Borrowers
Micro Small and Medium Enterprises (MSMEs)
Annual turnover with less than Rs. 750 million ** and
Employees less than 300 in manufacturing sector OR 200 in service sector.
Should have a registered business.
Maximum Loan Amount
Maximum amount of Rs. 10.0 Mn for one business entity.
Repayment Period
3 years with an optional grace period of 6 months
Security
Any security acceptable to the bank
Special Conditions
Payments of the existing loans are not permitted
One business entity can obtained only one loan under this scheme
The 100% of the project cost can be financed under this scheme
Interest Rate
4.78%
