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Bank of Baroda Schemes

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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