State Bank Of Mysore's Schemes for MSEs

BANGALORE, INDIA:

State Bank Of Mysore, one of the leading banks of India, provides with a basketful of schemes to aid the Micro and Small Enterprises (MSEs) of India. Following are the Major schemes for MSMEs:

CREDIT GURANATEE FUND TRUST SCHEME FOR MICRO & SMALL ENTERPRISES (CGTMSE)

CGTMSE was set up jointly by GOI and SIDBI. The scheme is extended to all New and Existing units of Micro and Small Enterprises. The scheme is available both under Manufacturing Sector and Service Sector. Eligible loan limit is up to Rs. 100.00 lakhs.

Loans to Micro & Small Enterprises (MSEs)

Any individual / partnership firm / Public or Private Ltd. Companies desirous of promoting MSEs (Manufacturing sector) with investment in Plant & Machinery not exceeding Rs. 5 crore and Medium Enterprises with investment in plant & Machinery is above Rs. 5 Crore and upto Rs. 10 crores. Extent of Finance -Need based (both fund based and non-fund based)

Small Business Finance

All types of Retail Traders are eligible. Persons who propose to start retail trade business, fair price shop, consumer co-operative stores are also eligible for finance. Extent of Finance - Credit limits up to Rs.20 lacs

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Small Business Enterprises

Eligibility

Individuals and firms managing a business enterprise established mainly for the purpose of providing any service other than professional services.

Extent of Finance

Individual limits for working capital will be fixed depending upon the requirement of activities pursued. Advances for acquisition, construction, renovation of House Boats and other tourist accommodation will be financed. Advances for distribution of mineral oils will also be considered under this category

Rate of Interest

As per prevailing rates from time to time

Laghu Udyami Credit Card Scheme

Small businessmen, retail traders, artisans, Small industrial units including those in Tiny sector, Professionals and self employed persons, enjoying working capital up to a limit of Rs 10 lacs can have access to this scheme.

Limit

Fixed at 20% of annual sales turnover declared in Income Tax/Sales Tax returns

Professionals and Self- employed persons are eligible for credit limits up to 50% of their gross annual income, as declared in their income- tax return

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RICE MILL PLUS

The scheme envisages coverage of all existing units with proven track record and take over of units subject to compliance with takeover norms. The new units can also be accommodated on case to case basis.Its based on simplified scoring model. The limit upto and inclusive of Rs.5.00 lakhs should be collateral free and covered under CGTMSE. The rate of interest is 9% p.a for such advances

CONTRACTOR PLUS

‘CONTRACTOR PLUS’ has been introduced under SME segment to fund the work bills of BBMP, all Municipal Corporations, Zilla Parishats, BWSSB and other Statutory Bodies all over Karnataka state provided they are agreeable for the tripartite agreement. Instead of LCs, Bills are backed by tripartite agreement.