AREA SPECIFIC SCHEME FOR FINANCING MSMES ENGAGED IN BOTH CERAMIC AND VITRIFIED TILE INDUSTRIES IN AHMEDABAD CIRCLE

Nature of Facility	Working Capital Term Loan (Both Fund-Based and Non-Fund Based facilities)
Purpose	"To provide credit for business requirement of MSME borrowers engaged in Ceramic and Vitrified Tile business(Manufacturing) for Term loan / working capital requirements."
Target Group	Unit’s engaged in the activity related to Ceramic industry(Manufacturing). Availability of mortgage of Land and Building for Individuals/Partnership firm (other than partnership firms where HUF is a partner)/ company (excluding NBFC)/ proprietary firms. The Scheme shall be applicable for accounts of risk rated up to Moderate Risk.
Quantum of loan	Minimum: Above Rs.10 Lakhs Maximum: Rs.50 Crores Term Loan: Maximum up to Rs.30 Crores.
Margin	Term Loan: 25%. Working Capital: 25% against Stock and 30% against Book Debts. Non fund based limits ( LC/BG/ Trade Credit): 20 %
Security	Primary: Assets created out of loan proceeds. Collateral: Minimum security comfort by way of primary & collateral (Land & Building and Approved securities, viz. LIC Policies, NSCs, KVPs, PSU Bonds except share & debenture standing in the name of borrower only) should be more than 50% of loan/limit. However, in the case of recently purchased Land, which is within one year from date of purchase, minimum security comfort by way of prime & collateral (Land or Land & Building alone) shall be 40% or more of the loan/limit. It is subject to the condition that the market value of the Land or Land & Building alone shall be more than 50%.
CGTMSE Coverage	Not Applicable.
Processing Charges	50% of the applicable upfront fee/ processing charges.
Processing Charges	Working Capital: Tenable for one year Term Loan: 5 to 7 Years including moratorium.

Applicable PAN India with present applicability in Ahmedabad circle.

Individuals/ Proprietary Concern/Partnership Firms (other than Partnership Firms where HUF is a Partner) /Company (excluding NBFC).
The Scheme shall be applicable for accounts risk rated up to Grade V /Moderate Risk /BB.

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 and Internal 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.