“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% p.a.
