SCHEME NO. : 2
|
1. |
Name
of the Scheme |
EQUIPMENT FINANCE SCHEME (EFS) |
|
2. |
Purpose
of Loan |
Providing quick finance to
well establish industrial units for acquisition of capital goods/ equipments
not related to any specific project both indigenous and imported. |
|
3. |
Eligibility
Criteria |
Existing industrial
concern(s) having good track record and sound financial position. The unit
concerned should ; 1. Have been in operation
for at least 4 years. 2. Have earned cash profits
and/or have declared dividend on equity shares during preceding 2 financial
years. 3. Not in default to
financial institution(s)/ bank(s) in the payment of its dues. |
|
4. |
Loan
Limit |
Maximum of Rs. 4.00 crores under EFS. |
|
5. |
Security
Margin |
Minimum
25% |
|
6. |
Promoters'
Contribution |
Minimum 22.5% |
|
7. |
Debt
Equity Ratio |
1.5: 1 |
|
8. |
Interest
Rate |
Prevailing interest rate. |
|
9. |
Repayment
Period |
5 years in quarterly
installments including moratorium of 6-12 months, depending on repayment
capacity. |
|
10. |
Rebate
on Timely Payment |
As per prevailing policy -
2% wef 16.07.2009. |