Purpose

To bridge the gap in the means of finance in the implementation of MSME projects and to meet any other bonafide expenditure required for the growth of the business.
Nature of Facility Term Loan.
Quantum of loan
  • Minimum: Rs 25.00 lakhs
  • Maximum: Rs 10.00 Crores
  • subject to Sub- debt assistance not exceeding 1/3rd of the Post-project TNW.
Eligibility
  • MSME who are enjoying credit facilities with us - 3 years profitable track record with 2 preceeding years satisfactory banking credit records.
  • MSME who are NOT enjoying credit facilities with us- 3 years profit track records of promoters or their concerns in same line of activity. Satisfactory market report and OPL from existing banker.
Security

Hypothecation of movable asset, mortgage of immovable asset and collateral securities / CGTMSE in case of sole banking.

Creation of II charge on current and fixed asset and collateral securities in case of consortium /MBA assistance
CGTMSE All Eligible loans sanctioned under MSME without any collateral security/ third party guarantee are to be covered under CGTMSE.
Interest As per prevailing guidelines linked to RLLR.
Repayment 7 years including Moratorium.

Conditions apply. The information provided above is only illustrative and not exhaustive.

Contact: For more details, please contact your nearest: Canara Bank Branch or E-mail to:hosbu@canarabank.com