All About Bank of Baroda SME Loan
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Bank of Baroda Business Loan
Baroda SME Loan Pack provides single line of credit for meeting SME borrowers’ working capital as well as long term requirements within the overall limit approved by the bank.
Bank of Baroda provides loans for Business startups, SME Loans and self-employed people running Software companies, IT sector, Traders, Manufacturers, Machinery, Equipment and many more….
Purpose of the Loan:
To provide hassle free line of credit for the working capital requirements ( fund and non fund based). They will take into account about the nature of the business, cash flow projections, peak time needs and any possibility of any unforeseen event in the business.
Eligibility for Bank of Baroda SME Loan :
All of the enterprises like Micro, Small and medium scale enterprises as described in the MSMED Act of 2006, and other entities whose annual sales turnover comes out to be Rs 15 lacs and more.
The Composite Limit:
It is 4.5 times of the consumer’s tangible net worth as per last evaluated Balance Sheet or Rs 500 Crores that is lower.Margin of 25 % is available.
Interest rates: As per the credit history of the borrower.
Bank of Baroda SME Loan Feature:
Loans Up to Rs 100 Lakhs to small and Micro Enterprises will be covered Under Credit Guarantee Fund Trust Scheme.
Bank OF Baroda SME Loan Rate Of Interest:
Base Rate (per annum) w.e.f. 04.02.2012 : 9.50%
|Loan Limit||For Micro Enterprises||For Small Enterprises|
|Upto Rs. 50,000||At Base Rate||0.50% above Base Rate|
|Above Rs. 50,000 upto Rs. 2.00 lacs||0.50% above Base Rate||1.00% above Base Rate|
|Above Rs.2 lacs but less than Rs.25 lacs||2.75% above Base Rate||3.25% above Base Rate|
On SME advances of Rs.25.00 lacs and above
|Credit Rating||For Micro Enterprises||For Small Enterprises|
|Fund Based Limits upto Rs.10 crores||Fund Based Limits above Rs.10 crores|
|CR1||2.15% above Base Rate||2.65% above Base Rate.||3.15% above Base Rate|
|CR2||2.50% above Base Rate.||3.00% above Base Rate.||3.50% above Base Rate.|
|2.75% above Base Rate.||3.25% above Base Rate.||3.75% above Base Rate.|
|3.00% above Base Rate||3.50% above Base Rate.||4.00% above Base Rate|
|3.50% above Base Rate.||4.00% above Base Rate||4.50% above Base Rate|
CR 6, 7, 8, 9 & 10
|4.00% above Base Rate||4.50% above Base Rate||5.00% above Base Rate|
Security in The Loan:
- Exclusive charge of the assets of the enterprise is required.
- Personal Guarantee of all of the Director and Promoters is required.
- Charge on the tangible personal assets of the promoters, directors, partners, whichever is appropriate.
- Third party guarantee in case of credit line above Rs Hundered Lakhs to small and Macro enterprises.
- Other collateral for the credit line above Rs 25 lakhs for other enterprises such as Medium based and enterprises based upon the turnover criteria.
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