CANARA CONTRACTOR

Bank	Canara Bank
Scheme	CANARA CONTRACTOR
Description	To provide working capital assistance (fund based/non fund based) in the form of running limit (Secured OD), FLC/ILC & BG for working capital needs and Term Loan for purchase of brand new equipment/office premises to the existing and prospective contractors/sub-contractors
Eligibility	MSME (service units) engaged in contractor/sub-contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006. Type of Contractors: Civil, Mining, Electrical, Mechanical and Construction Contractors and sub-contractors
Rate of Interest & Repayment	RoI: As per prevailing guidelines of the Bank linked to RLLR of the Bank subject to change from time to time Concession ranging from 0.50% to 0.75% as per the ROI scoring norms devised for this scheme Repayment: WC: Tenability : 12 Months TL : 5 years inclusive of holiday period if availed for the purpose other than construction. TL :7 years inclusive of holiday period if availed for the purpose of construction/construction and purchase of equipments.
Collateral	Mortgage of immovable property by way of land and building (business/residential building) situated in Semi-Urban/Urban/Metro Centres.
Composite /loan Limit	Above Rs. 10 Lakhs upto a Maximum of Rs.10 crores. Term Loan to the maximum of Rs.5 Crores is permissible.
Margin
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