Equipment Finance Scheme
Purpose
For acquisition of machinery / equipment, both indigenous and imported, which are not related to any specific project.
Eligible Borrowers
Existing units in the SSI sector with good track record and sound financial position. They should have been in operation for at least three years and have earned profits and / or declared dividend during two years proceeding to taking up the scheme. The units should not have defaulted in payment of its dues.
Norms
Requirement of loans should not be less than Rs.7.5 million. The limits for states of Eastern Region, North-Eastern Region, Jammu & Kashmir and Himachal Pradesh shall be Rs.5 million.
Debt Equity Ratio - For projects - 2:1, for units - 1.5:1
Repayment - 5 years.
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