|Bank||Union Bank of India|
|Description||To meet business related needs including purchase / construction of business/office premises including Cyber cafe, machinery including Generator Set, equipments, vehicles, other fixed assets and working capital requirement.|
|Eligibility||All business units irrespective of classification under Micro & Small enterprise category.|
|Rate of Interest & Repayment||As per extant interest rate guidelines for Micro and Small Enterprises.
Repayment: Working Capital: 12 months subject to renewal as per extant guidelines.
Term Loan: To be repaid within maximum period of 84 monthly installments inclusive of moratorium period.
|Collateral||Primary: All assets created out of Bank’s finance shall be charged in favor of Bank by way of hypothecation / mortgage etc.
Collateral: No collateral for accounts covered under CGTMSE (Annual guarantee fee payable to Credit Guarantee Trust will be fully absorbed by the Bank for micro enterprises).
|Composite /loan Limit||Maximum limits upto Rs.1.00crore|
|Margin||· 10% for credit limit upto Rs.10.00Lacs.
· 15% for Credit Limits above Rs.10.00Lacs
|Detail Link||View Link|