It depends upon the amount of the advance applied for since applications for the higher amount requires approval at higher levels of the bank and therefore, in such case, little more time is taken. Nevertheless, the bank endeavours to dispose of the advances-applications within 30 days at all levels.
Whether both Term finance and working capital finance are sanctioned by Bank ?
Yes, both Term finance and working capital are available.
Whether collateral security is required ??
No collateral/third party guarantee for loans upto Rs.25 lac covered under Credit Guarantee Trust Scheme of SIDBI. For other loans collateral/ third party guarantee will be considered as per Government / Bank's policy guidelines.
What is the criteria for SSI unit ?
