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MSME > SME Smart Line of Credit

SME Smart Line of Credit IDBI Bank SME Smart Line of Credit




Availability of timely and adequate credit has always been a matter of concern for the MSME Sector. MSMEs stand to lose out on emerging business opportunities, due to lack of want of access to credit, when needed. Keeping that in view, IDBI Bank has introduced this Product in which financial assistance pre-approved composite loan is offered to the MSMEs.

The product details are as mentioned below:

Sr. No.

Field

Content

1

Eligible Segments

All MSME clients as defined by MSMED Act, 2006

2

Facility

Composite loan with the following components
Term Loan
Working Capital (Fund Based and Non-fund Based)

3

Loan Amount

Maximum :  Rs. 500 lakh for corporate borrowers
Maximum : Rs. 250 lakh non-corporate borrowers

4

Purpose of Advance

Term Loan: For capital expenditure, modernization, expansion, retiring of high-cost debt
Working Capital: To meet working capital requirement

5

Tenor

Term Loan: Max 5 years
Cash Credit: Max 12 months

6

Pricing

Linked to Bank Base Rate and Rating

7

Security

Primary:  Hypothecation of assets/ Financed stock/Book Debts
Collateral Security: In the form of immovable property such as residential /commercial, or other liquid security

8

Guarantee

Personal Guarantee of the borrowers/promoters to be obtained.

9

Margin

Depending upon the nature of the facilities

10

Processing Charges

Upto 1%



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