Emergency Credit Line Guarantee Scheme (ECLGS)
A new facility in accordance with the Emergency Credit Line Guarantee Scheme (“Scheme”) is launched by NCGTC (National Credit Guarantee Trustee Company Ltd., Ministry of Finance, Government of India). Under the Scheme, an additional loan upto 20% of the outstanding as on 29th Feb 2020 can be extended, which facility will be valid for a period of 4 years with a 12-month principal moratorium.
This loan offer is subject to you complying with the following additional requirements, as specified under the Scheme:
Annual turnover of the entity for the Financial year 2019-20 is not greater than Rs. 100 Cr.
Overall fund based outstanding credit with all banks/NBFCs/FIs as on 29th Feb 2020 is not greater than Rs. 25 Cr.
No overdues beyond 60 days, across all banks/NBFCs/FIs as on 29th Feb 2020.
Availability of a valid GST registration, unless exempted.
Important Communication on ECLGS