Emergency Credit Line Guarantee Scheme (ECLGS)
Siemens Financial Services Private Limited
Guaranteed Emergency Credit Line (GECL) Facility Details
No, as per the SFSPL credit guarantee scheme Policy, you will need to apply via email and submit the required documents if you want to avail of the loan under the guarantee scheme. The documents will be evaluated against the eligibility requirements as set out by the guarantee trust and decision will be taken accordingly.
Evaluation criteria is based on the eligibility criteria as mentioned by the ECLGC scheme
- Borrower with combined outstanding loans across all Member Lending Institutions (*MLIs) of up to Rs. 50 crore as on 29.2.2020, and annual turnover of up to Rs. 250 crore for FY 2019-20 are eligible for the Scheme.
- Borrower accounts should be less than or equal to 60 days past due as on 29th February 2020 to be eligible. i.e. All borrowers who have not been classified as SMA 2 or NPA by any of the MLIs as on 29th February 2020 will be eligible for the Scheme subject to the internal Risk assessment of SFSPL.
- Borrower must be GST registered in all cases where such registration is mandatory.
2nd charge on existing asset to be created and will last the duration of loan under this scheme.
Reach out to us in case of any other questions
To avail the loan, please contact your Sales Manager or send us an e-mail