SME Short Term Loans

Bank	Bank of Baroda
Scheme	SME Short Term Loans
Description	To meet temporary shortfall / mismatch in liquidity, for meeting genuine business requirements only.
Eligibility	Micro, Small & Medium Enterprises as per Regulatory definition and all other entities with annual sales turnover up to Rs. 150/- crores. Satisfactory credit rating for the last three years.(BOB-5 & ABOVE) Latest Balance Sheet etc. should be available. Satisfactory financial performance in terms of sales / turnover and profits. Negative variance, if any, should not be more than 10%. Satisfactory dealings with the Bank for at least three years.
Rate of Interest & Repayment	To be repaid in 12 months including moratorium period.
Collateral	First charge / Equitable mortgage of fixed assets of the company / firm or extension of existing first charge / equitable mortgage of fixed assets, ensuring that there is a minimum asset cover of 1.25. Extension of Charge on current assets for the additional facility ensuring that adequate drawing power is available. Extension of all existing guarantees of Directors / Third party guarantees to cover the additional facility.
Composite /loan Limit	Loan Amount -Upto 25% of the existing Fund based Working capital limits (depending on the Credit Rating), subject to a minimum of Rs. 10 Lakhs and maximum of Rs. 250 Lakhs.
Margin
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