Special Financial Products

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Special Financial Products
  • CM Special Assistance Scheme
    • To provide hassle free finance for enabling environment in the state for MSMEs, Startups and NRKs for working capital & asset creation purposes
    • Financial assistance shall be provided to all forms of new and existing entities i.e., proprietorship, partnership, company etc
    • Loan assistance of up to 80% of project cost shall be provided
    • Lending limits shall be Rs. 25 Lakhs to Rs. 200 Lakhs (in the process of being hiked to Rs. 500 Lakhs)
    • Repayment period of 5 years
    • Moratorium period of 1 year
    • Interest rate of 5.50 % (floating, after 3% interest subvention from Government)
    • Additional 0.5% rebate on prompt repayment of financial assistance
    • Security for the loan shall be exclusive/ pari passu charge over the assets of the unit financed or collateral security
    • Age limit: 18 – 50 years (being enhanced to 70 years)
    • Should have a good CIBIL score i.e., above 650
    • Bill Discounting Loan
      • To provide finance support purchase / discounting of bills arising out of genuine trade transactions made by clients with Government / PSUs
      • To Corporate entity or partnership firm with minimum 3 years’ experience related to civil, mechanical & engineering works and other business (excluding trading), duly supported by a certificate from authorized agencies such as PWD, KWA etc
      • Work advance and credit / loan together shall not exceed 80% of the value of the contract / purchase limited to Rs. 5 Crore at a time
      • Financial Assistance of Rs. 200 Lakhs to Rs. 500 Lakhs
      • Interest rate of 10.50% (floating)
      • The loan will be secured by the personal guarantee of Partners / Directors, necessary agreement / POA with KSIDC, tripartite agreement between Company / firm, purchaser and KSIDC, and irrevocable power of attorney in favour of KSIDC to receive bill amount directly from the work issuing Department / Govt. Undertaking
      • Contractor Loan
        • To provide financial assistance by way of working capital term loan to eligible, established and creditworthy applicants in the State for execution of various works in connection with Government assigned contracts in the State
        • To Company, LLP, Proprietorship concern or Partnership Firm
        • Shall be provided a financial assistance of 60% of the cost of work awarded
        • Financial Assistance of Rs. 50 Lakhs to Rs. 6,000 Lakhs
        • Repayment period of 3 years
        • Interest rate of 9.50% (floating)
        • Security for the loan shall be unencumbered collateral security, irrevocable Bank Guarantee, and fixed deposit in nationalized / scheduled banks providing 133% of cover for the loan sanctioned
      • Caravan Loan
          • To provide finance for meeting the expenditure for purchasing of new caravans and / or setting up caravan parks
          • Maximum finance from KSIDC per caravan is limited to 70 % of the cost of caravan. Promoters have to bring in the balance 30 %
          • Financial Assistance of Rs. 25 Lakhs to Rs. 100 Lakhs per caravan, with the maximum lending limit being Rs. 500 Lakhs
          • To Existing resorts/resort groups (firms, LLP and limited companies), Existing fleet owners/tour operators (firms, LLP and limited companies) and Returnee migrants
          • Repayment period of 7 years
          • Moratorium period of 12 months, extendable by another 6 months, from the date of first disbursement
          • Interest rate of 8.50% (floating)
          • Security for the loan shall be hypothecation of the caravan. In case of multiple vehicles financed, collateral security to cover 140% security shall be provided
          • In case of funding for caravan parks, mortgage of caravan park exclusively to cover 140%
      • WE Funding
        • To provide financial assistance to existing women entrepreneurs in the manufacturing/service business using industrial machinery/equipment with average turnover of Rs. 10 lakhs and above, for scaling up through expansion, modernization and related diversification
        • Assistance shall be given to proprietorship, partnership firms, limited liability partnerships, private limited companies etc. owned and managed by women
        • Loan assistance of up to 80% of project cost shall be provided
        • Lending limits shall be Rs. 25 Lakhs
        • Interest rate of 7.50%
        • Tenure of loan shall be limited to a maximum of 5-6 years, including a moratorium up to 6 months from the date of sanction of loan

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Last Updated on: 6 February 2023
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