Enterprise Loan Scheme

Purpose
The object of the scheme is to provide credit for any industrial activity approved by Development commissioner, MSME, GOI in the small scale sector for production, service,providing marketing support to rural produce like retail outlets, for purchase of mobile sales van, construction of godown, shopping complexes,etc

Eligible Borrowers
Eligible borrowers will be Rural artisans, handicraftmen, small entreprenours, group of individuals, etc.

Eligible Activities
All manufacturing processing activities as approved by Dev: commissioner MSME, GOI, modernization/ renovation/ expansion/ diversification of existing units / any service activities aiding rural industries and household services/ any infrastructure support activity as approved by NABARD (ie.mobile/static cars and kiosks, workshed, marketing outlets).

Nature of Assistance
Loans to meet block capital, Block capital with capitalized working capital.

Items of Investment
It include work shed, plant & machinery ,Tools & equipments, working capital for one operating cycle capitalized as term loan and additional working capital for next 4yrs,capitalized as term loan.

Maximum Loan
maximum loan eligible is projects having outlay up to Rs.1 Crores.

Margin
15% to 25%

Repayment Period
The loan should be repaid in 3-10 yrs including moratorium upto 18 months.

Security
As fixed by the apex bank in the respective loan rules, in accordance with the guidelines issued by RBI/NABARD/RCS.

Rate of Interest
Loan Amount    Up To    -    1,00,00,000    ::    11.50    %