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 smexpress

Bank of Baroda, India ’ s International Bank

Middle East


SME Loan Factory

Express Loan to traders / professionals / business units (Up to 200% of deposits with the bank).

The Scheme aims at providing finance for working capital and other long term purpose such as business premises loan, business loans, CAPEX, etc. against the security of cash margin and / or immoveable property.

 

Salient Features


Purpose:

Single line of credit for Working capital such as Over Draft, Trust Receipts, BP/BD/LCD, short term demand loans, Letter of credits, Bank Guarantees, and also long term requirements against the security of certain cash margin and / or immoveable property

Eligibility:

All concerns having sales turnover upto AED 100 millions and profit making for last 3 years

Loan amount:

(A) The working capital limit can be extended up to 20% of the projected sales Turnover or actual requirement, whichever is less, subject to following:

(i) In case collateral security is not available

1. Up to 150% of deposits held with the branch if establishment is less than 3 years old

2. Up to 200% of deposits with the branch if establishment is > 3 years

(ii) In case security is available.

1. 60% of the value of Mortgage/Assignment

2. 50% of the value of possessory pledge

(B) Other facilities

Limit will be assessed considering the total budget and actual requirement subject to assessment as per existing guidelines

Security:

Deposits with the bank , Assignment / mortgage of the immoveable property, personal guarantee, etc.

Rate of interest*:

Competitive Rate of interest prevailing at the time of sanction

Period:

Working capital finance – renewable annually
Term loans - Up to 7 years

 

For Further details


*Terms: Rates and charges are subject to change from time to time

 
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