Equipment Finance Scheme

Scheme Name	EQUIPMENT FINANCE
Purpose of the loan	To provide term loan assistance for the modernization/ upgradation/ expansion/ diversification of existing and new projects and equipment purchasing in order to keep pace with the changes and to keep them technologically updated so as to remain competitive.
Eligibility Criteria	Have a positive Net worth during the last 3 years.
Upper loan limit	The upper limit is up to Rs. 2 cr
Promoter’s contribution	1:3
Moratorium period	Moratorium up to 12 months
Repayment period	3 to 5 years including the Moratorium period
Lending rate of Interest	8% to 10 % pa
Security	Legal documentation of assets financed