Attractive interest rate
Interest rate of 8.25% per annum
Pre--Approved loan up to Rs.10 crore
Minimal documentation with no processing fee
Loan tenure up to 4 year
including moratorium of one year
No pre-payment charges
Early settlement of loan without any charges
Emergency Credit Line Guarantee Scheme (ECLGS) is a scheme launched by the Government of India under ‘Atmanirbhar Bharat Abhiyan’ that aims at mitigating the economic distress faced by businesses/Micro, Small and Medium Enterprises (MSMEs) by providing additional funding in the form of a fully ECLGS.
- You have a total credit outstanding of Rs 25 crore or less as on Feb 29, 2020
- Your turnover for 2019-20 was up to Rs 100 crore
- You have a GST registration or were not required to obtain such GST registration.
Udyog Aadhaar or recognition as MSME is not required under this scheme.
No. Typically, lending institutions get funds from banks/Non-Banking Financial Companies (NBFCs) through on-lending, refinance, asset purchase, securitisation, assignment, etc. There are, therefore, other windows available including the Partial Credit Guarantee Scheme and the Special Liquidity Facility.
Existing loan where entity is the primary co-applicant
Combined outstanding loans of not more than 25 Crore
Entities with annual turnover of 100 Crore in FY 2019-20
Eligible entities must be GST registered
Scheme extended to loans under Pradhan Mantri Mudra Yojna
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