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UCO Business Loan Schemes |
UCO Trader
It is a loan for financing working capital and Term Loan needs of Retail and Wholesale trading activities other than Export. Retail and Wholesale trade in various types of commodities (not services) excluding those items which are specifically prohibited / restricted by the Bank, are financed through this scheme. Fund based Advance is granted by way of Cash Credit against stock as well as Book debt and Term Loan for acquisition of fixed assets to run the trade and business.
Eligibility
Existing enterprises engaged in business for at least 2 years and earning profit during the last 2 years.
Quantum of loan
Minimum Rs. 1 Lac and Maximum Rs 125 Lacs
Within fund based limit of Rs. 125 lac, term loan up to Rs. 25 lac can also be sanctioned for acquisition of fixed assets. Repayment period of Term Loan not to exceed 60 months. Besides the above quantum of fund based limit, up to 50% thereof can also be sanctioned by way of Inland LC / Bank Guarantee if needed.
Salient features
- No margin for Cash Credit is required
- Margin for Term Loan, LC & BG is 25%
- Application is simple; Balance Sheet is not required for limit up to Rs 10 lacs and not compulsory for limit below Rs 50 lacs subject to certain conditions.
Security
- Primary-Hypothecation of stocks and book debt.
- Collateral-100% for Cash Credit (against stocks only ) and Term Loan, 125% for Cash Credit(against stocks and debtors)
Click here for Interest Rates
Processing Charges
0.50% of fund based limit, 0.25% of Non-Fund based limit.
For more details please contact your nearest UCO Bank branch. |
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