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MSME Loan

MSME LOAN

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1. PMEGP:

The Scheme Government of India had in August 2008, approved the introduction of a new credit linked subsidy program called Prime Minister's Employment Generation Program (PMEGP. It was launched by merging the two schemes that were in operation till 31, March 2008, namely Prime Minister's Rojgar Yojana (PRY) and Rural Employment Generation Program (REG) for generation of employment opportunities through establishment of micro enterprises in non-farm sector for rural as well as urban areas.

2. JRG Bank GST Plus:

Purpose To meet Working Capital need of the business. Scheme for MSME borrowers (New/Existing) All type of Borrowers i.e. Individuals, Proprietor, Partners, Companies, LLPs etc. who are registered under GST. UDYAM Registration is mandatory.

3. STAND UP INDIA (SUI):

The Stand-Up India scheme was launched by the Prime Minister on 05.04.2016. The scheme endeavors to create an eco-system for SC, ST and women entrepreneurs, which facilitates and continues to provide a supportive environment for doing business.

GST PLUS SCHEME

Category Details
Purpose To meet Working Capital need of the business.
Target Group MSME borrowers (New/Existing).
Eligible Customers
Borrowers All types of Borrowers, i.e., Individuals, Proprietor, Partners, Companies, LLPs, etc., who are registered under GST. UDYAM Registration is mandatory.
New Customers Minimum business operation of 12 months required.
Existing Customers At the time of renewal, they shall be brought under the scheme.
GST Returns GST Return of the past 12 months / 4 Quarters / 1 Annual required. At least 60% of turnover reflected in GST return should have been routed through the Bank account.
Banking Arrangement Sole Banking arrangement for working capital requirements is required. Multiple Banking Arrangement/Consortium is not permissible.
CIBIL Score Minimum CIBIL score of 650 or no credit history with no default/overdue appearing in CIC/CIBIL report of promoters.
Assessment of Loan
Quantum of Finance 25% of the GST Sales of past 12 months as per GST returns.
Nature of Facility Working Capital (Cash Credit) or Dropline Overdraft (OD).
Drawing Power (DP) DP as per Stock Statement or original Dropline level (whichever is lower). The DP can be reduced or restored based on adequate Stock & Book Debt Statement availability.
Loan Details
Minimum Loan Amount Rs. 10.00 Lakh.
Maximum Loan Amount Rs. 100.00 Lakh.
Margin 25% on Stocks and 40% on Book Debts.
Tenure - CC: 12 months; Subject to annual renewal/review.
- OD (Dropline): Not more than 5 years. Annual review is required for all loans.
Special Features of the Scheme
Working Capital Limit Available to GST-registered firms, companies, LLPs, or other business entities.
Turnover Reflection GST Return of the past 12 months required. At least 60% of turnover reflected in GST return should have been routed through the Bank account.
Limit Assessment 25% of the GST Sales of the past 12 months as per GST returns.
Loan Amount Range Minimum: Rs. 10.00 Lakh; Maximum: Rs. 100.00 Lakh.

COMMERCIAL VEHICLE LOAN

Category Details
Purpose Purpose To finance new commercial vehicles, Electric vehicles, Hybrid commercial vehicles, CNG vehicles, Ambulances.
Eligibility
• Minimum 2 years of experience in transport industry/ Hospitality Industry and other related business enterprise/ activities.
• Satisfactory track record with existing banks/FIs.
• MSMEs should be registered in UDYAM portal and should have Udyam Registration Certificate.
• First time users may also be considered as a special case
Loan Amount
• Minimum: Rs.10.00 lakhs.
• Maximum: Rs.50.00 Lakhs.
Margin
• 15% on on-road price
Repayment Period
• 15% on on-road price
• For Commercial Vehicle: Max 84 months including moratorium. Moratorium: Up to 6 months.
• For Electric Vehicle: Maximum 48 months including moratorium. Moratorium: Up to 6 months

Fleet finance

Category Details
Purpose To finance new vehicles (Small, Light, Medium, Heavy Commercial Vehicles, Passenger Vehicles). E.g., trucks/tankers/ trailers/ tippers/ buses/ luxury buses and passenger vehicles etc. Electric/ Hybrid commercial vehicles can also be financed.
Eligibility
• Minimum 3 years of experience in transport industry and other businesses. Fleet operator having existing fleet of minimum 5 vehicles.
• Transport operators holding national/ state route permit and other necessary permits/license/approval.
• Satisfactory track record with existing banks/FIs.
• MSMEs should be registered in UDYAM portal and should have Udyam Registration Certificate.
• Eligibility is linked to the scores obtained under scoring model.
• Minimum CIBIL Score of main Promotors/ Partners/ Directors should be 650.
Loan Amount
• Minimum: Rs.50.00 lakhs.
• Maximum: Rs.200.00 Lakhs.
Margin
• 10% on on-road price (Score Between 50% to 60%) and 5% (Score above 60%).

PMEGP

The Scheme Government of India had in August 2008, approved the introduction of a new credit linked subsidy program called Prime Minister's Employment Generation Program (PMEGP. It was launched by merging the two schemes that were in operation till 31, March 2008, namely Prime Minister's Rojgar Yojana (PRY) and Rural Employment Generation Program (REG) for generation of employment opportunities through establishment of micro enterprises in non-farm sector for rural as well as urban areas.

ABL - SME

S.No. Parameters Details
1 Purpose For build-up of current assets and fixed assets
2 Nature of Facility Fund Based and Non Fund based
3 Type of Loan Drop-line Overdraft facility OR Cash Credit
4 Eligible Customers
  • Existing Customer already availing credit facilities from us.
  • New units with marketable assets to offer as security.
  • Takeover of existing units from other Banks/ FIs with a satisfactory track record of minimum 3 years. (Credit Information Report to be obtained)
5 LTV% Immovable property: 80% of the realizable value
6 Loan Amount
  • Minimum loan amount: ₹25 lacs
  • Maximum loan amount: ₹30 Crores
7 Eligible Security
  • Immovable property
  • Freehold/Leasehold on Industrial property
8 Repayment
  • Drop-line Overdraft: 12 months to 240 months
  • Cash Credit: On demand
9 Security Immovable property, Industrial property
10 Documentation
  • Arrangement Letter, DP Note, DP Note Take Delivery Letter, yearly affidavit and SME Documentation as applicable.
  • For Mortgage of Property:
    • Original Title Deeds
    • House/Property tax payment receipts
    • Title Investigation report as per Bank's extant instruction.
    • For loans above ₹25 lakhs, TIR should be obtained from two different panel advocates.
11 Insurance Insurance cover, both for the assets of the activity for which ABL has been sanctioned and for the property against which loan is given should be taken, as in the case of regular finance.
12 Special Mention The end use under "JRGB Asset Backed Loan" does not include "Commercial Real Estate"

SME CRE for Commercial Real Estate – Commercial Projects

Category Details
Target Group Proprietorship/ Partnership/ Company/ LLPs
Purpose Creation/acquisition of real estate such as office buildings, retail space, industrial or warehouse space, multiplex, hotels, restaurants, gymnasium, amusement parks, cold storage etc., where the prospect for repayment would generally be lease or rental payment or sale of asset. For both working capital (including pre-operative expenses) and acquisition of fixed asset.
Nature of Facility Fund Based Only:
  • LTV ratio has to be maintained for the aggregate limits @ 50% of the realizable value.
  • Limit should be reviewed annually.
  • Minimum 25% margin on the construction cost.
  • Cash budget to be obtained at the time of appraisal.
  • Project Cost should not include purchase of land.
Eligible Customer
  • Existing customer who have already availed credit facilities from us.
  • New units with marketable assets to offer as security.
  • Takeover of existing units from other Bank/FIs permitted with satisfactory track record.
Loan Amount
  • Minimum loan amount: > Rs.25 lakhs.
  • Maximum loan amount:
    • Urban Centres: Rs.10 Crs
    • Semi-Urban Centres: Rs.5 Crs
    • Rural Centres: Rs.50 Lakhs
Margin 25% both for working capital and acquisition fixed assets.
Silent Features
  • Project Cost should not include purchase of land.
  • LTV ratio has to be maintained for the aggregate Limits @ 50% of the realizable value (Land & Building).
  • Minimum Margin of 25% of the total project cost (excluding cost of land) must be ensured; Promoters contribution must be ensured at every stage of disbursement.
  • Land will be considered as Collateral Security and value of land (govt. rate) must be >= 30%; In case of any shortfall in collateral security, other collateral including liquid will be accepted.
  • Interest rate must be based on CRA rating as applicable to SME Segment.

BUILDER TIE-UP & FINANCE

1. Copy of Sale Deed
2. Mutation
3. Latest Rent Receipt
4. Memorandum & Article of Association (for company)
5. Certificate of Registrar of Companies (for company)
6. Registered Development Agreement with share allocation between land owner & builder (if applicable)
7. Registered Power of Attorney (if applicable)
8. Environmental Clearance
9. Permission of Fire
10. Airport Clearance, if any
11. RERA
12. Approved Map & Building Permit
13. Booking Details
14. KYC of Firm & Partners
15. A/c statement of firm (1 year)
16. Loan A/c Statement of 1 year (if applicable)
17. CERDAI Registration
18. Project Report
19. Estimate of Project
20. Last 3 years audited balance Sheet

JRGB SME Asset Backed Loan

S.No. Parameters Details
1 Purpose For build-up of current assets and fixed assets.
2 Nature of Facility Fund Based and Non-Fund Based.
3 Type of Loan Drop-line Overdraft Facility OR Cash Credit.
4 Eligible Customers
  • Existing customers already availing credit facilities from us.
  • New units with marketable assets to offer as security.
  • Takeover of existing units from other Banks/FIs with a satisfactory track record of minimum 3 years. (Credit Information Report to be obtained.)
5 LTV% Immovable Property: 60% of the realizable value.
6 Loan Amount
  • Minimum Loan Amount: > ₹25 Lacs
  • Maximum Loan Amount: ₹30 Crores
7 Eligible Security
  • Immovable Property
  • Freehold/Leasehold on Industrial Property
8 Repayment
  • Drop-line Overdraft: 12 months to 240 months
  • Cash Credit: On demand
9 Security Collateral: Immovable property and industrial property.
10 Documentation
  • Arrangement Letter, DP Note, DP Note Take Delivery Letter, yearly affidavit, and SME Documentation as applicable.
  • For Mortgage of Property:
    • Original Title Deeds
    • House/Property Tax Payment Receipts
    • Title Investigation Report (TIR) as per Bank's extant instruction. TIR should be obtained from two different panel advocates for loans above ₹25 lakhs.
11 Insurance Insurance cover should be taken for both the assets of the activity for which ABL has been sanctioned and for the property against which the loan is given.
12 Special Mention The end use under "JRGB Asset Backed Loan" does not include "Commercial Real Estate."

Insta Credit

S.No. Parameters Details
1 Eligibility Individual members of those WSHGs who have been credit linked with our Bank, and the NRLM account should be standard and regular.
2 Type of Facility Cash Credit and/or Term Loan for a maximum period of 5 years.
3 Quantum of Finance
  • Minimum: ₹0.50 Lakh
  • Maximum: ₹5.00 Lakh
4 Margin Up to ₹5.00 Lakh - NIL
5 Security
  • Primary: Hypothecation of stocks-in-trade, receivables, machinery, and assets purchased out of Bank finance.
  • Collateral: NIL (All credit facilities to be covered under CGFMU).
6 Third Party Guarantee NIL
7 Processing Charges 0.30% of the loan amount and a minimum ₹500.00 + GST. Upfront Fee: 0.50% of the loan amount and a minimum ₹500.00 + GST.
8 Credit Assessment
  • Cash Credit: Up to 20% of their annual (actual or projected) turnover.
  • Term Loan: Based on the project cost (Fixed Assets).

UDYAMI DIDI

S.No. Parameters Details
1 Identification of Beneficiary Sponsoring Agency (NRLM/JSLPS Officials) identifies at least one-woman micro-entrepreneur from each SHG and forwards the application with KYC of the beneficiary to the nearest/identified branches/AMH.
2 Quantum of Loan
  • Minimum Project Cost: ₹1.00 Lakh
  • Minimum Loan Amount: ₹75,000/-
  • Maximum Loan Amount: ₹5.00 Lakhs
3 Security
  • Primary: Hypothecation of stocks-in-trade, receivables, machinery, and assets purchased out of Bank finance.
  • Collateral: NIL (All credit facilities to be covered under CGFMU).
4 Quotation No prior quotation shall be sought. A request letter from the borrower shall be obtained with an undertaking that the loan is applied for the procurement of machinery/equipment/raw material/stock, etc., for starting/running the enterprise/activity.
5 Project Report Projected balance sheet should not be insisted upon.
6 KYC Documents
  • Aadhaar Card is mandatory, and PAN card shall not be insisted upon. A bilingual standard undertaking (FORM 60) shall be obtained in lieu of a PAN card in the regional language/English.
  • KYC Documents: OVD for identification and address proof (for residence and unit).