Guaranteed Emergency Credit Line (GECL)

1.Eligible Borrowers:

  • I. All existing Business Enterprises / MSME institution/Individual borrowers with outstanding loans of up to Rs. 50 crore as on 29.2.2020, and annual turnover of up to Rs. 250 crore in FY 2019-20 are eligible.
  • II. There should be no overdue beyond 60 days with any Financial Institution as on 29th February 2020.
  • III. Business Enterprises / MSME borrower must be GST registered in all cases where such registration is mandatory. This condition will not apply to Business Enterprises / MSMEs that are not required to obtain GST registration.

2.Facility Type : Working Capital Term Loan (WCTL)

3.Emergency Credit Line (Additional Loan) will be capped at 20% of the total fund based outstanding as on 29th Feb 2020.

4.Interest rate for the Additional Loan sanctioned under GECL will be External benchmark + 1% subject to maximum of 9.25% per annum.

5.The tenor of loans provided under GECL shall be for a tenor of four years from the date of disbursement including moratorium on repayment of principal for first 12 months.

6.There is no processing fees/Guarantee Fees/foreclosure charge to avail this facility.

7.There will be an extension of existing security for the additional Loan facility sanctioned under GECL and hence customer will need to execute documentation of enhancement with the Bank

For more details pls visit:

To avail this product contact your nearest Utkarsh Small Finance Bank Limited Branch.