(Simplified Loan delivery mechanism to provide hassle free financial support to Artisans)
OBJECTIVE
- To provide hassle free financial support to Artisans
- To make credit delivery simple and easy
SECURITY
Secured by Hypothecation of stocks, receivables, machinery, other equipment, etc.
COLLATERAL SECURITY
No Collateral security and third guarantee required. Loan to be covered under Credit Guarantee Scheme of CGTMSE.
NATURE OF LIMIT
Term Loan & Cash Credit Limit
MARGIN
| Extent of Limit | Margin | |
|---|---|---|
| (i) | Upto Rs. 2,00,000 | Nil |
VALIDITY
Card is valid for three years
Nature of limit
Term loan and working capital (both upto Rs. 2 lakh)
ELIGIBILITY
- All artisans (Existing & New) involved in production / manufacturing process (and otherwise eligible for credit facilities for carrying out the proposed activities under any of the existing bank schemes).
- Preference is given to artisans registered with Development Commissioner (Handicrafts).
- Thrust on financing in clusters of artisans and artisans who have joined to form Self Help Groups (SHGs).
- All existing / new artisans borrowers of the bank enjoying credit facilities upto Rs. 2 lakh and having satisfactory dealings with the bank.