KFC Assistance to MSMEs in Healthcare to Fight COVID-19 (New Scheme)

  • The Corporation has introduced a New Scheme (Term Loan/ Working Capital Term Loan), ‘KFC Assistance to MSMEs in Healthcare to Fight COVID-19’.

Sl No

Parameter

Scheme Details

1

Eligibility

For units engaged in manufacturing of products or providing services for fighting COVID 19, as follows:

-Units engaged in manufacturing oxygen cylinders/ oxygen generators/ oxygen concentrators/ liquid oxygen or units providing services in transportation/ storage/ refilling of oxygen.

-Units engaged in manufacturing of products such as ventilators/ Oximeters/ Spectrometer/ portable X ray machines/ other lifesaving equipment.

-Units manufacturing gloves/ bodysuits/ shoes/ covers/ goggles/ testing labs.

-Hospitals, Nursing Homes, Clinics, diagnosis Centre, Pathology Laboratories, Manufacturers of permitted drug/ health products, Ecosystem engaged in building/ servicing Health Care Infrastructure, etc.

- Or such any eligible activity/ service for fighting COVID-19.

- The units should have MSME registration.

2

Purpose

To acquire equipment/ plant/ machinery/ other assets
To purchase raw materials
To have working funds

3

Maximum Loan amount

As per the Credit Policy of the Corporation, subject to 90% of the total project cost.

4

Repayment

Loans up to and including Rs.50 lakh: Up to a maximum of 5 years including a maximum moratorium up to 1 year.

For loans above Rs.50 lakh: Up to a maximum of 10 years including a maximum moratorium up to 1 year.

5

Promoters contribution

10%

6

Interest rate

  1. Loans up to and including Rs.50 lakh will be covered under CMEDP at net interest rate of 7% pa, after 3% Govt subsidy.

 

  1. For loans above Rs.50 lakh, there shall be two separate loan accounts. Loan portion up to and including Rs.50 lakh (first loan account) shall have a net interest rate of 7%, after 3% Govt subsidy. The interest rate for the balance portion (second loan account) shall be based on the Credit Rating of the unit as per the Interest Rate Policy.

7

Processing and upfront fee

Nil

  • Steps to be followed by the Customers to get the benefits.
    • The eligible customers shall submit the loan application online at www.kfc.org (see Apply Online menu) before the time frame mentioned at (c).
    • The loan will be sanctioned to eligible customers within 15 days of registering the loan application.
    • The scheme will be valid up to 31.12.2021.