Emergency Credit Line Guarantee Scheme (ECLGS) :
The Emergency Credit Line Guarantee Scheme (ECLGS) was unveiled as part of the Rs 20 lakh crore comprehensive package announced by Finance Ministry on 13/05/2020, to aid Micro, Small and Medium Enterprises (MSMEs) sector in view of the economic distress caused by the COVID-19 pandemic. We at Capri Global are extending pre-approved unsecured loans guaranteed under ECLGS in which the Company will consider funding to those pool of customers who are eligible as per revised MSME definition. Key Highlights of the scheme are as follows.
Name of the Facility |
Guaranteed Emergency Credit Line (GECL) |
Facility Type |
Term Loan |
Eligible Borrowers |
|
Loan Eligibility Calculation |
Credit under GECL would be up to 20% of the borrower’s total outstanding credit up to Rs. 25 crores, excluding off-balance sheet and non-fund-based exposures, as on 29th February 2020, subject to the borrower meeting all the eligibility criteria. The maximum loan amount that can be extended under this facility is Rs. 5 cr. |
Tenor
|
|
Interest Rate / Type |
ROI to be capped @maximum 14%p.a. |
Processing Fees |
NIL |
Pre-Payment Charges |
NIL |
Guarantee Fee payable to credit guarantee trust |
NIL |
Scheme Validity |
This scheme is valid till 31st October 2020 or Rs. 3 Lac Crores is utilized by lending institutions, whichever is earlier. Or during any extension announced by the Government in future. |
- Revised MSME classification as defined by the Ministry of Finance dated 13th May’2020:
Revised MSME Classification | |||
Composite Criteria: Investment and Annual Turnover | |||
Classification | Micro | Small | Medium |
Manufacturing &Services |
Investment <Rs. 1Cr. and Turnover <Rs. 5 cr. |
Investment <Rs. 10Cr. and Turnover <Rs. 50Cr. |
Investment <Rs. 50Cr. and Turnover <Rs. 250 Cr. |
- For more details on ECLGS guidelines, please visit https://www.eclgs.com
- For further details on GECL, please contact your Branch.