Union Progress

Bank	Union Bank of India
Scheme	Union Progress
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. Interest to be paid as and when due.
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
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