1.      

Product Name

IOB-Standby Line of Credit for MSME

2.      

Target Group

MSMEs (Manufacturing/Services/Trade)

3.      

Target Constituents

Individual/Proprietary Concern/Partnership Firm/ Limited Liability Partnership/Company.

4.      

Nature of facility

Working Capital Demand Loan

5.      

Purpose

To meet temporary liquidity mismatch of MSME units arising out of delayed realisation of receivables, receipts of GST inputs tax credits (including for exports) and other business requirements.

6.      

Eligibility

Existing units having credit limits upto Rs.5.00 crores with satisfactory credit record of two years.

7.      

Loan Amount

The maximum loan amount permissible under this scheme is capped at the lowest of the following:

a)   WCDL upto 25% of the specific existing fund based working capital facility or

b)  delayed receivables i.e. book debts which are not considered for the regular limits enjoyed by the borrowers and with maximum age of 180 days less applicable margin or

c)    Rs.1.25 crores.