Equipment Finance Scheme For Existing Clients
|Purpose||Assistance under the scheme will be for purchase and erection of identifiable items of plant and machinery including generators for modernization/expansion/balancing/replacement. Machinery imported directly will also be eligible. Transport and erection charges, additional need based civil work, miscellaneous fixed assets and electricals related to the equipment may also be considered in the project cost.|
Assistance will be available to existing industrial concerns having a good past record of performance and sound financial position. The concerns should:
i. Have been in operation for at least 3 years.
ii. Have earned profits and declared dividends during the preceding two financial years.
iii. Not be in default to institution/banks in the payment of their dues.
iv. Have positive networth.
|Limit||Rs.5.00 lakh to Rs.1000.00 lakh|
|Debt Equity Ratio||2.00 : 1.00 (Overall)|
|Repayment||36 months to 60 months including Holiday period ranging from 3 months to 12 months.|
|Collateral Security||25% of Loan amount|