Short Term Loan Against Central Subsidies Receivable

SHORT TERM LOAN AGAINST CENTRAL SUBSIDIES RECEIVABLE
(i) |
Name of the facility |
Short Term Loan against Central Subsidies Receivable |
(ii) |
Type of facility |
Fund based short term loan facility |
(iii) |
Tenure of the loan |
From 3 months to 1 year or receipt of subsidy, whichever is earlier |
(iv) |
Purpose |
Bridging the temporary liquidity mismatch in the business operation. |
(v) |
Margin |
Upto 50% of the sanctioned subsidy amount. |
(vi) |
Interest Rate |
8.50 % p.a. (monthly rests, on reducing balance) |
(vii) |
Security |
|
(viii) |
Repayment of Principal |
Monthly / Quarterly / Bullet repayment at the end of tenure or at the time of receipt of subsidy. |
(ix) |
Processing Fee |
0.25% plus GST |
(x) |
Prepayment penalty |
Nil |
(xi) |
Eligibility |
|
(xii) |
Other Conditions |
|