Seasonal Business Running Financing Facility

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In order to cater the financing needs of cyclical business, Seasonal Business Running Financing Facility (SBRFF) is designed for meeting working capital needs of the seasonal business. The facility is to be used for purchase of stocks (raw materials/semi-finished/work in process/unfinished goods), spares and for meeting day to day operational expenses. This product is meant for existing businesses to meet their short term financing need and existing SME Bank borrowers can also avail this facility which is available to all enterprises engaged in seasonal business activities.

Products Features

  • Available for entities engaged in seasonal business activities.
  • Avail finance facility from Rs.0.5 Million to Rs.100 Million
  • Maximum 11 months but to be fixed for seasonal period depending upon the nature of business activities.
  • During active seasonal business period maximum up to eight months, the borrower will be allowed to deposit and withdraw the amount as per business requirements.
  • After active seasonal business period, no debit will be allowed in the account and account will have to be adjusted in next three months. Total period of the facility will be eleven months. The next facility will be allowed only after passing of one month from the date of adjustment of previous facility.
  • Minimum 1 year KIBOR + 8.5% p.a (adjusted annually)
  • Mortgage of urban residential/commercial/industrial properties acceptable to the bank (Maximum financing will be 70% of Forced Sale Value of the security & collateral).
  • Hypothecation of Plant & Machinery/stocks (with 25% margin)
  • Personal Guarantees of sponsor/partner/directors.Third party Guarantee(optional).

Cash Near Cash Security with 10 to 20% margin..

* Amount benchmarked for SME’s, corporate clients may go beyond the set limit.

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