Available in :

Contact Us
Contact Canara Bank 1800 1030
Internal banner
Nature of Facility
  • Working Capital
  • Term Loan

(Fund-Based facilities only)
Purpose “To provide credit for Working Capital/ Term Loan requirement (Fund based only) of MSME borrowers (as defined under MSMED Act 2006 with further revision in definition of MSME effective from 01.07.2020, as per Gazette Notification dated 26.06.2020 with relevant modifications communicated subsequently) for financing existing/new manufacturing/trading units engaged in manufacturing and trading of sponge iron and steel in Sambalpur region of Bhubaneswar Circle.”
Target Group Existing and New manufacturing/trading units engaged in manufacturing and trading of sponge iron and steel in Sambalpur region of Bhubaneswar Circle
Quantum of loan
  • Minimum: Above Rs.10 lakhs
  • Maximum: Rs.25 Crores (Working Capital), Rs.50 crores (Term Loans)

Maximum amount permissible under the scheme is Rs. 50 crores including all fund-based facilities (i.e. Working Capital and/or Term Loan)
Security
  • Primary: Assets created out of loan proceeds.
  • Collateral: Mortgage of immovable properties i.e. Land and building, in the form of Primary, Collateral or Primary and Collateral put together and/or approved securities including our Bank deposits in the name of borrower entity/promoter/s (i.e. enforceable and mortgageble securities) >=50% of the total limit to be ensured in case of manufacturing units and >=100% of the total limit to be ensured in case of trading units.
CGTMSE Coverage CGTMSE coverage shall be ensured in applicable cases as per extant CGTMSE guidelines for loan amount upto Rs. 2 Crores.
Processing Charges
  • Upfront fee/Processing Charges:
    50% of the applicable upfront fee/processing Charges.
  • Project Appraisal Charges:
    50% of the applicable Project Appraisal Charges.
    All other charges to be taken as per extant guidelines.
Tenability
  • Working Capital: Tenable for one year
  • Term Loan: Need-based maximum tenor may be permitted upto 7 years inclusive of repayment holiday.
  • Sambalpur region of Bhubaneswar Circle.
  • Individuals /Proprietary Concern/Partnership Firms (other than partnership Firms where HUF is a Partner) /Company/LLP (excluding NBFC).
  • The Scheme shall be Applicable for accounts risk rated up to Moderate Risk.

31.03.2025 (subject to performance review of the scheme as on 30.09.2024)

  • Customer Identification proof along with NF998 MSME application.
  • Address Proof of unit and promoters.
  • License/permissions.
  • Financial papers for the last 3 years with ITR and projections.
  • Details of Guarantor with proof of assets.
  • Stock Statement.

Rate of Interest is linked to the value of security/approved collaterals, Internal and External Risk Rating/Grade.

  • Penal interest of 0.25%/0.50% may be chargeable as the case may be, from previous sanction to current renewal period, in case of lesser turnover routed through the account.
  • Agree to pay penal interest at 2% for overdrawn portion, in case of delayed regularization of the limit.

SITEMAP | TERMS AND CONDITIONS | COPYRIGHT POLICY | WEBSITE SECURITY POLICY | PRIVACY AND COOKIES POLICY | T&C WHATSAPP BANKING | CHATBOT TERMS & CONDITIONS

© 2024, Canara Bank, All rights reserved

Last updated on 22-12-2024 11:46 AM

Visitor Count 8