COVID 19 – Line of Support for MSME Scheme

Sr. No.

Category

Particulars

1.              

Product Name

COVID 19 - Line of Support for MSME (CLSM)

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 (Tenor 18 months)

5.      

Purpose

To meet temporary liquidity mismatch of MSME units arising out of COVID 19 (to meet the statutory dues, payment of salaries to staff, electricity bills, rent of office, delayed retaliation of receivables, etc.)

6.      

Loan Amount

WCDL upto 10% of the specific existing fund based working capital facility subject to the maximum limit of Rs.1.00 crores.

Existing customers who have availed special loan products like IOB SLC for MSME and GST Ease are also eligible for the facility. However, the total additional exposure including the present facility should not exceed 25% of the existing FBWC exposure.

7.      

Eligibility

Existing MSME units having credit limits with satisfactory credit record of two years.