Emergency Credit Line Guarantee Scheme (ECLGS)
Facility Type: Working Capital Term Loan (WCTL)
Validity: Scheme is available up to Oct 31, 2020 or on reaching the threshold stipulated by the Government of India under Emergency Credit Line Guarantee Scheme (ECLGS).
Purpose: To augment the Business Enterprises/Micro, Small & Medium Enterprises (MSME) borrowers working capital needs, to meet operational liabilities and restart their businesses which have been impacted due to the COVID-19 crisis.
Tenure: 48 months including principal moratorium for first 12 months.
- Borrowers with up to INR 25 crore outstanding as on Feb 29, 2020 and up to INR 100 crore annual turnover for FY 2020 will be eligible.
- Loans sanctioned under IGECL would be up to 20% of the borrower’s total outstanding credit as on Feb 29, 2020.
- Loans provided to Business Enterprises/MSMEs constituted as Proprietorship, Partnership, registered company, trusts and Limited Liability Partnerships (LLPs) shall be eligible under the Scheme.
- Business Enterprises/MSME borrower must be Goods and Services Tax (GST) registered in all cases where such registration is mandatory. This condition will not apply to Business Enterprises/MSMEs that are not required to obtain GST registration.
- Borrower accounts which had NPA or SMA-2 status as on Feb 29, 2020 shall not be eligible under the scheme.
- Nil processing charges and waiver of foreclosure/prepayment charges.
- No additional collateral requirement.
For detailed guidelines and FAQs on ECLGS, visit https://www.ncgtc.in/en/eclgs .
To Opt In / Opt Out click here
Sorry, but the page you were trying to view does not exist.
It looks like this was the result of either:
- a mistyped address
- an out-of-date link