Union Start up

Bank

Union Bank of India

Scheme

Union Start up

Description

To finance for innovation, development, deployment or commercialization of new product, processes or services driven by technology or intellectual property as per Start-up India Scheme.

Eligibility

The Unit must be eligible and certified as “Start-up” by the concerned Government Authority as per Start-up India scheme launched by Government of India (GoI).

Rate of Interest & Repayment

Concession over applicable rate of interest

Repayment:

Working Capital: 12 months

Term Loan: Maximum Door to Door repayment shall be 10 years including moratorium period not exceeding 36 months. Repayment can be in monthly / quarterly installments. Interest shall be recovered separately.

Collateral

Collateral: Not Mandatory

Guarantee:

· Personal guarantee of promoter directors, partners of the firm/company having sufficient means and of all mortgagors of collateral security, if any.

Composite /loan Limit

Minimum: Rs.0.10crore
Maximum: Rs.5.00crore

Margin

20% (Working capital as well as Term Loan)

Detail Link

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Union Start up

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