Union SME plus to is a credit item custom-made to meet the impermanent transient working capital necessities of MSME Borrowers.

You can benefit the advance for the accompanying purposes:

Any sort of authentic credit need of impermanent nature to hold over liquidity crunch

Reimbursement of high cost fleeting borrowings profited for veritable working capital.

Meeting Working Capital need emerging out of batching of requests

Impermanent deferral in shipment/acknowledgment of book obligations

Sudden expansion in expense of crude material and so on.

Qualification:-

Borrowal Accounts having a place with Micro, Small and Medium Enterprises Sector
Earned benefits reliably for the previous three years and who have not defaulted in any of their responsibilities
Borrowers with existing working capital points of confinement of Rs.1.00 cr or above.

Quantum of Loan:-

Adhoc Working Capital limit up to 15% of the current consistent working capital farthest point (Fund based and Non Fund Based).

Margin, i.e. Your Share:-
Least - 25%.

Nature of Facility:-

Request Loan.

Points of interest of the Scheme:-

Adhoc Working Capital or Non Fund Based point of confinement will be endorsed while restoring/exploring the aggregate furthest reaches of the current borrower
This office won't be accessible for EPCG, DPGL and for L/C and L/G if the time of L/C, L/G is over 90 days
The breaking points endorsed will be in the way of Demand Loan, repayable inside three months.
It will be sponsored by satisfactory Drawing Power.
For new borrowers, this point of confinement will be accessible strictly when customary restoration of the utmost

SECURITY:-

Prime - Extension of Bank's charge over present and altered resources
Guarantee Extension of charge over existing insurance
Individual guaranteeof proprietor/accomplices/executives

INTEREST:-

2% over the pertinent rate of interest (in view of FICO scores)
Reimbursement:-
The points of confinement endorsed will be repayable inside three months.