SME

Strengthening Micro Enterprise (SME) is provided only to those clients who fall under the head of small enterprises. SME loans will be disbursed from EDF account. SME loans’ record will remain in those branches where they will be disbursed. It shall be given on individual basis. Such loans are extended in cash form with loan amount between Rs. 100,000 and Rs. 500,000. This financing facility is provided for the duration of 12, 18 and 24 months with the recovery of equal monthly instalments. It is mandatory to provide financial collateral i.e. guarantor by the clients. Before advancing loan, evaluation of business shall be carried out whether or not client has repayment capacity.

Additional consideration shall also be given to these criteria in case of SME:
• Business point of the client has to be located within RCDP program area.
• Client is required to have an experience of 3 to 5 years in the respective business.
• Minimum 3 person should be employed in the client’s business.
• Net Monthly Income of the client should be more than Rs. 15,000.