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In the world of business, there are times when financing support is required to move ahead. This can be for expansion, setting up a new unit, purchase of new production tool or machinery or easing out working capital requirements. Micro, Small and Medium Enterprises (MSME) loans have been made available for such purposes and helps in boosting overall business. Andhra Bank offers MSME Loans through many schemes to suit the needs of different borrowers. Andhra Bank MSME Loans are broadly categorised into Manufacturing and Service Sectors wherein investments are made mainly in plant & machinery and Equipment. Financing amount ranges from a maximum of Rs. 25 lacs in the Micro Enterprises segment to Rs. 5 crores in Medium Enterprises segment. More details on Andhra Bank MSME Loans can be read below.
Andhra Bank offers many schemes through MSME Loans.The details are outlined below:
Credit facilities are offered up to Rs. 5 crores. The margins on this credit are:
1) MSME - Mitra
2) ABhivrudhi - Financing to MSEs
Maximum: Rs 6.00 Crs
For WC limits: 2 years
Primary for BG/LC: Cash margin of minimum 15%, counter guarantee of the applicant and extension of charge on entire current assets of the unit
3) Term Finance
Collateral: No collateral for credit limits up to Rs.10 lacs in case of stand-alone Term loan/Composite loan. For credit limits above Rs.10 lacs as per guidelines of the Bank
4) Standby Term Loan
Collateral: Existing collateral securities continue
5) Artisans Credit Card (ACC) Scheme
6) AB Power Tools (Shakti)
7) Technology upgradation fund scheme (TUFs) for textile & jute industries in SSI Sector
8) Credit Guarantee Fund Trust for Micro and Small Enterprises
Credit facilities sanctioned to an eligible borrower with interest rate more than 4% over base rate are not eligible
9) Pavala Vaddi Scheme
10) Scheme of Technology Upgradation
11) Mutual Credit guarantee scheme in association with ALEAP & CGSTI for women entrepreneurs
75% Non-fund based and Fund based Working Capital Limit or outstanding whichever is lesser
12) Credit Linked Capital Subsidy Scheme for Technology Upgradation of small-scale enterprises
13) National Equity Fund Scheme
14) Prime Minister Employment Generation Programme
15) AB Laghu Udhyami Credit Card (LUCC) Scheme
16) Open Cash Credit
Above Rs. 10 lacs: Land and Building, Plant and Machinery, other fixed assets
17) Composite Loan Scheme
Up to Rs. 25,000 – Nil
Above Rs. 25,000 up to Rs. 25 lacs – 15% to 25%
Above Rs. 25 lacs up to Rs. 100 lacs – as per bank guidelines
Up to Rs. 10 lacs: NIL
Above Rs. 10 lacs: As per bank policy
18) AB Doctor Plus
This scheme helps in providing finance to qualified medical practitioners and doctors in any branch of medical science
Working capital limit: 75% of the revenue expenditure
For working capital limits – 1 year
Andhra Bank MSME Loan can be applied online through the official website. The application form can be downloaded or accessed and completed details needs to be submitted for further processing. One can also drop into the nearest branch of the bank for consultation and information on the product. The bank representative will assist you with details and advice on the best suited loan on the basis of your business profile. Application form can be submitted physically at the bank as well.
1.What is the tenure for MSME – Mitra loan from Andhra Bank?
The tenure for the MSME – Mitra Loan is one bullet payment in 8 months.
2. What are the eligibility criteria for ABhivrudhi - Financing to MSEs?
3. What is the maximum amount of loan available on Allahabad Bank Weavers Credit Card (WCC) Scheme?
The maximum loan amount available to an individual under this scheme is Rs. 2 lacs.
4. What is the Allahabad Bank Laghu Udhyami Credit Card Scheme?
Under this scheme, financial assistance is offered for providing working capital for the business. Term loan is also available for purchasing production tools or equipment for the process.
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