Emergency Credit Line Facility-Banner_WC

Banner-Dynamic-Scroll-CockpitMenu_LAP

Emergency Credit Line_WC

Emergency Credit Line

The Finance Ministry of India announced the Emergency Credit Line Guarantee Scheme (ECLGS) for existing Business Enterprises/MSMEs to avail of additional funding as a special response to the unprecedented situation of the COVID-19 pandemic.

Eligibility Criteria of the Emergency Credit Line Facility

  • Under ECLGS 1.0 Extension: Borrowers who meet the eligibility criteria, as defined by the guidelines, may be provided with assistance of up to 30% of the total outstanding credit (fund based only and excluding the availed ECLGS limit) as of Feb 29, 2020, or Mar 31, 2021 – whichever is higher.
  • Under ECLGS 2.0 Extension: Borrowers from the 26 identified sectors based on the Kamath Committee and the Healthcare Sector who meet the eligibility criteria, as defined by the guidelines, can be given assistance of up to 30% of the total outstanding credit (fund based only and excluding the availed ECLGS limit) as on Feb 29, 2020, or Mar 31, 2021, whichever is higher.
  • Under ECLGS 3.0 Extension: Borrowers who meet the eligibility criteria as defined in the guidelines and fall under stressed sectors such as Hospitality, Travel and Tourism, and the Leisure and Sporting sector, and Civil Aviation can be provided with monetary assistance of up to 40% of their total outstanding limit (fund based only and excluding the availed ECLGS limit) as on Feb 29, 2020, or Mar 31, 2021, whichever is higher. The maximum assistance is capped at Rs.200 Crore.
  • Under ECLGS 4.0: For existing hospitals/nursing homes/clinics/medical colleges/units engaged in the manufacturing of liquid oxygen, oxygen cylinders, etc. for the setting up of on-site oxygen-producing plants. These sanctions should not be Non-Performing Assets (NPA), as of Mar 31, 2021. A maximum of Rs.2 Crore can be granted.

No processing fees, pre-payment penalties, and guarantee fees shall be charged to borrowers for the above schemes. No additional collateral requirement for availing of an ECLGS loan is required either. The security will rank the second charge with the existing credit facilities.

For additional information on the same, please contact us at bhflwecare@bajajfinserv.in.

*Terms and conditions apply

Emergency Credit Line Facility_Related Article_wc

ECL_PAC_WC

People Also Consider

KNOW MORE

KNOW MORE

KNOW MORE

KNOW MORE

CommonPreApprovedOffer_WC

Pre-Approved Offer