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The Trust shall provide guarantee as under :
Micro Enterprises
Loan facilities upto Rs.5 lakh
85% of the amount in default subject to a maximum of Rs.4.25 lakh
Loan facilities above Rs.5 lakh upto Rs.50 lakh
75% /Rs.37.50 lakh
Loan facilities above Rs.50 lakh upto Rs.100 lakh
Rs.37.50 lakh plus50% of amount in default above Rs.50 lakh subject to overall ceiling of Rs.62.50 lakh
Women entrepreneurs/ Units located in North East Region (incl. Sikkim) other than credit facility upto Rs.5 lakh to micro enterprise
Loan facilities upto Rs.50 lakh
80% of the amount in default subject to a maximum of Rs.40 lakh
Loan facilities above Rs.50 lakh upto Rs.100 lakh
Rs.40 lakh plus50% of amount in default above Rs.50 lakh subject to overall ceiling of Rs.65 lakh
All other category of borrowers
Loan facilities upto Rs.50 lakh
75% /Rs.37.50 lakh
Loan facilities above Rs.50 lakh upto Rs.100 lakh
Rs.37.50 lakh plus50% of amount in default above Rs.50 lakh subject to overall ceiling of Rs.62.50 lakh
All proposals for sanction of guarantee approvals for credit facilities above Rs.50 lakh and upto Rs.100 lakh will have to be rated internally by the MLI and should be of investment grade. Proposals approved by the MLIs on or after December8,2008 will be eligible for the coverage upto Rs.100 lakh.
The guarantee cover will commence from the date of payment of guarantee fee and shall run through the agreed tenure of the term credit in respect of term credit / composite credit. Where working capital alone is extended to the eligible borrower, the guarantee cover shall be for a period of5 years or a block of5 years, or for such period as may be specified by the trust in this behalf.
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