Bank of Baroda Small Business Loan

Hii buddy , My father want to Get Small Business Loan from Bank of Baroda , Fo it will you please tell me Eligibility , Margin information and Other Information ?

[Saksham]

Friend as per your demand , Here I am sharing information for Small Business Loan of Bank of Baroda


Eligibility
All Enterprises, i.e. Micro, Small & Medium Enterprises, as defined under MSMED Act, 2006, and other entities with annual sales turnover up to Rs. 150/- crores exclusively banking with our bank/new borrowers desirous of having sole banking arrangement with our bank.

Composite Limit:
4.5 times of borrower�s tangible net worth as per last audited Balance Sheet, or, Rs. 5.00 Crores, whichever is lower.

Margin : 25%.


Features:

Loans upto Rs. 100/- lacs to Mi

Security :

• Exclusive charge on the assets of the enterprise .

• Personal Guarantees of all promoter Directors / Partners .

• Charge on the unencumbered personal properties of the partners, promoter Directors, wherever applicable .

• Third party guarantee in case of credit line above Rs.100.00 lacs to Micro & Small Enterprises as per Regulatory definition .

• Any other collateral for the credit line above Rs. 25.00 lacs in case of other Enterprises, i.e. Medium Enterprises and Enterprises based on the turnover criteria to maintain asset coverage ratio above 1.25.