Rajasthan: Credit Limit Under Equipment Finance Scheme

RIICO, Rjasthan Government has launched Equipment Finance Scheme to cater to the frequent need of the companies for installation of equipment during its operation cycle.

Eligibility:

• Company should be standard asset and has no default in repayment during the year.
• Company should have paid at least one third of the principal amount.
• Company should have been in operation for the last 3 years and earning adequate cash profits in at least 2 (including preceding year) out of the last 3 years.
• Average DSCR 2:1 after the proposed assistance.

Benefits:

• Loan up to Rs. 50 Crore per year and the loan amount shall also not exceed the amount repaid by the company against term loan to FIs / Bank(s).
• Security Margin: Minimum 25%
• Promoter’s Contribution: Minimum 30%
• Debt Equity Ratio: 1.25:1 (after availing the limit)
• Repayment Period: Not more than 5 years in quarterly installments. The first installment shall be payable from the next quarter of availing the disbursement.

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