Canara MSE Pragati Loan Scheme | Information
New Loan Scheme for MSE Companies (Pragati Loan Scheme) of Canara Bank. Scheme Valid till 31st march 2014.
| Purpose | To meet business related needs including purchase/ construction of business premises, machinery, equipments, vehicles and working capital requirements of Micro and Small Enterprises. |
| Eligibility | Existing customers with satisfactory track record for last 2 years (both conduct of account with financing branch and financials of the applicant unit)
New customers subject to satisfactory OPL from their existing bankers. New units subject to satisfactory market opinion on the promoters and prospects of the project/business proposed. Individuals, proprietorships, partnership concerns, pvt ltd company, trusts, HUF are eligible. Partnership concerns with HUF as one of the partners, Educational institutions, Self help Groups, Joint liability Groups and units engaged in Retail Trade activity are not Eligible. Units whose Risk rating is HIGH and/or grading as per scoring norms is Higher/Highest are not eligible. |
| Type of Credit Facility | Term Loan and working Capital |
| Margin | 15% |
| Maximum Loan |
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| Rate of Insterest |
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| Guarantee | Coverage under credit guarantee fund scheme for micro & small Enterprises. |
| Processing Fees | Upto 5 lac: Nil, Above 5 Lac: 50% normal charges |
Conditions apply. The information provided above is only illustrative and not exhaustive.
Contact:
For more details, please contact your nearest : Canara Bank branch or E-mail to:
hosbu@canarabank.com
