“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%

 

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