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  #2  
7th November 2015, 12:32 PM
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Re: Bank Of Baroda SME Policy

Hello sir I want to know about Bank Of Baroda SME loan pack policy so here can you please tell me its details that I am eligible or not for taking loan ?
  #3  
7th November 2015, 12:32 PM
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Join Date: Aug 2012
Re: Bank Of Baroda SME Policy

Hey as Baroda SME Loan Pack provides single line of credit for meeting SME borrowers� working capital as well as long term requirements within the overall limit approved by the bank.


ELIGIBILITY

All Enterprises, i.e. Micro, Small & Medium Enterprises, as defined under MSMED Act, 2006, and other entities with annual sales turnover up to Rs. 150/- crores exclusively banking with our bank/new borrowers desirous of having sole banking arrangement with our bank.

COMPOSITE LIMIT :

4.5 times of borrower�s tangible net worth as per last audited Balance Sheet, or, Rs. 5.00 Crores, whichever is lower.

MARGIN : 25%.

RATE OF INTEREST :

As per credit rating of the borrower.

SECURITY :

Exclusive charge on the assets of the enterprise.

Personal Guarantees of all promoter Directors / Partners.

Charge on the unencumbered personal properties of the partners, promoter Directors, wherever applicable.

Third party guarantee in case of credit line above Rs.100.00 lacs to Micro & Small Enterprises as per Regulatory definition.

Any other collateral for the credit line above Rs. 25.00 lacs in case of other Enterprises, i.e. Medium Enterprises and Enterprises based on the turnover criteria to maintain asset coverage ratio above 1.25.

OTHER FEATURES :

Loans upto Rs. 100/- lacs to Micro & Small Enterprises will be covered under Credit Guarantee Fund Trust Scheme.


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