PNB Solar Vendor Financing Scheme

S. No.PARTICULARSDESCRIPTION
1.Name of the SchemePNB Solar Vendor Financing Scheme
2.PurposeWorking capital finance to vendors of solar panels
3.Eligibility(i) Individuals/ Proprietorship / Partnership / Limited Liability Partnership (LLP) / Pvt. Ltd. Co. / Public Ltd. Co & any other legal entity having GST Registration No. (wherever applicable). HUF not permitted.
(ii) Individual/ entity should be registered as MSME having valid Udyam Registration Certificate.
(iii) The vendors/entity should be registered with Ministry of New & Renewable Energy (MNRE)/ DISCOM. Blacklisted vendors on MNRE site shall not be eligible. List of backlisted vendors is available on Ministry of New and Renewable Energy website.
(iv) The applicant should at least have 6 months of experience in the intended line of business and should have completed minimum 10 projects/installations.
4.Nature of facilityCash Credit
5.Quantum of loanMinimum – Above Rs.10 lac
Maximum – Rs.5 crore
6.Margin25% (Stock & Book Debt)
7.Rate of Interest (ROI)Concessional rate linked with Internal Risk Rating.
8.Collateral SecurityFacility may be covered under CGTMSE for full amount of limit as per Bank guidelines.orFacility can also be covered under “Hybrid Security” model of CGTMSE subject to 100% coverage of the facility.
or
Minimum 50% collateral in the shape of immovable property or Bank’s approved liquid security to be obtained.