MSME EMERGENCY CREDIT LINE
Eligibility – Existing MSME customers having outstanding loans as on 29.2.2020 with combined all banks/NBFC exposure below Rs. 25 Crore -Holding of Udyog Aadhaar MSME registration is mandatory
- Government Guarantee Fees and bank document charges: NIL
- Security: Collateral free with credit guarantee by NCGTC – Extension of charge on entire present and future current asset of company/firm – Additional WCTL granted under this scheme shall rank pari passu with existing credit facilities and securities.
- Max. Amount Eligible: Upto Maximum of 20% of utilised limit for Working Capital, Term Loans, Business Loans. Please note 20% is the upper cap, bank is free to decide lower amount as per financials aspects.
- Process to apply as follows: Every Bank has rolled out their application form for ECG Limit- Application with documents as requested by bank to be submitted to the banker for evaluation
- Last Date – Earliest of 31.10.2020 or Rs.3 lakh crore limit exhausted
