Working Capital
Working Capital:
Description:
A tailored solution to meet the daily working capital requirements of MSMEs, offering flexibility and ease of approval.
Key Features:
- Assistance for fulfilling working capital needs.
- Option to select a banking platform from multiple partner banks (IDBI, CUB, Yes Bank).
- Seamless approval process with customer-specific instructions for setting Drawing Power.
- Single-window facility for term loan customers to access working capital funding.
- Attractive interest rates linked to MCLR.
Eligibility:
- New and existing entities not availing working capital facilities from other banks/financial institutions.
- Takeover of working capital accounts allowed when included in a term loan takeover, subject to guidelines.
- No history of defaults with banks or financial institutions.
SWIFT:
Description:
An innovative working capital assistance in the form of an Overdraft Facility, featuring a fast-track digital process and minimal documentation.
Key Features:
- Overdraft facility for working capital needs.
- Paperless, in-principle offer letter upon completing the digital journey.
- No need for monthly/quarterly statements (e.g., Stock/Book Debt/QIS).
- Low processing fees: 0.25% at sanction and 0.10% per annum during review/renewal.
- Option to select a banking platform from partner banks (IDBI, CUB, Yes Bank).
- Attractive MCLR-linked interest rates.
- Assistance up to ₹3 Crore.
Eligibility:
- Existing entities with at least 3 years of operation.
- Entities not availing working capital/overdraft facilities from other banks/financial institutions.
- No history of defaults with banks or financial institutions.
STEP:
Description:
A Working Capital Term Loan designed to enhance net working capital or facilitate the execution of urgent confirmed orders.
Key Features:
- Term loan assistance for working capital augmentation and urgent orders.
- Repayment tenure of up to 3 years, including a moratorium period of up to 6 months.
- Financing up to ₹3 Crore for existing customers and ₹2 Crore for new customers.
Eligibility:
- Minimum of 3 years of operations (2 years for existing customers of SIDBI).
- Positive operating profit in the last 2 years (1 year for existing customers).
- No history of defaults with banks or financial institutions.
