Purpose :
  • Loan for Weaving activity and ancillary workers involved in weaving activities.
  • All weavers and ancillary workers involved in weaving activities.
  • Preference shall be given to weavers identified under the Third Census of Handloom weavers conducted by Development Commissioner (Handlooms).
  • MThrust in financing shall be on clusters of weavers and ancillary workers who have joined Societies /SHG /Consortia /Producer Companies/Joint Liability Groups.
  • All existing borrowers of the Bank enjoying credit facilities and having satisfactory dealing with the Bank will also be eligible.
    Loan Limit :
  • Credit limit will be fixed based on assessment of working capital requirements as well as cost of tools and equipments required for carrying out weaving activity.
  • Maximum individual limit is Rs 2.00 lac.
  • Margin
  • No Margin up to Rs 25000/-
  • 20% Margin above Rs 25000/-
  • Rate of Interest:
  • Rate of interest depends on the profile of the proposed Borrower and varies between Base Rate to BR+1.50% p.a. with monthly rests.
    Primary Security:
  • Working Capital : Hypothecation of Stocks, Book debts and other current assets.
  • Term Loan : Hypothecation of plant & machinery and assets financed by the Bank.
  • Collateral Security:
  • Coverage under CGTMSE
    Repayment Period:
  • Working Capital : On demand subject to review every year.
  • The WCC card issued is valid for 3 years.
  • Term Loan : 5 to 7 years.