|Bank||Union Bank of India|
|Scheme||Union MSME Suvidha|
|Description||• To meet need based working capital (Fund Based & Non-Fund Based) requirement for Business Activity.
• Term Loan for own business use, which is detailed as under:
• Purchase/ Construction / Renovation of Business Premises, Factory / Offices / Shop / Godown / Plant & Machinery / Equipment etc for business activities areeligible.
• Purchase of equipment like Computers, air-conditioner, furniture & fixtures and other fixed assets like commercial vehicles forbusiness.
• Any other purpose whereby asset is created out of Bank’s finance for the purpose of running the business.
|Eligibility||All units engaged in the Manufacturing/ Services/ Trading activity, eligible to be classified under MSME.|
|Rate of Interest & Repayment||Repayment:
Working Capital: On Demand.
|Composite /loan Limit||Min: Above Rs.10 Lakh
Max: Up to Rs.50 Crore with TL restricted upto Rs. 10.00 crores in case of Trade accounts.
Also, exposure below Rs. 10.00 lakhs sanctioned previously may be continued till the closure of limit / loan.