Working Capital
Working Capital
Working Capital
SWIFT
STEP
Working Capital
Key Features
Working capital assistance for working capital requirements of the MSMEs.
Option to choose banking platform from multiple banks (IDBI/CUB/Yes Bank)
Seamless approval as per customer instructions for setting Drawing Power.
Single window for term loan customer to avail working capital facilities.
MCLR Linked attractive rate of Interest.
Eligibility
New and existing entities who do not enjoy working capital facility from any other bank/ financial institution.
Takeover of working capital accounts as a part of term loan takeover may be considered subject to standard guidelines.
No defaults to Bank/FIs.
SWIFT
Key Features
Working capital assistance in form of Overdraft Facility for working capital requirements of the MSMEs.
Paperless in-principle offer letter upon completion of Digital Journey.
No requirement for submission of monthly/ quarterly statements (Stock/ Book Debt/ QIS etc.)
Low processing fees of 0.25% at time of sanction and 0.10% p.a. at time of review/renewal.
Option to choose banking platform from multiple banks (IDBI/CUB/Yes Bank).
MCLR Linked attractive rate of Interest.
Assistance upto Rs.3 crore.
Eligibility
Existing entities having 3 years of operations.
Should not avail working capital/ over-draft facility from any other bank/ financial institution.
No defaults to Bank/FIs.
STEP
Key Features
Working capital term loan assistance for augmenting net working capital and/or to execute urgent confirmed orders.
Repayment upto 3 years including moratorium upto 6 months.
Financing upto Rs. 3 crore for existing customers and Rs. 2 crore for new customers.
Eligibility
Minimum 3 years operations, (2 years for Existing customer of SIDBI)
Operating profit during past 2 years, (1 year for Existing Customers)
No defaults to Bank/FIs.
