“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.

 

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