IND HEALTH CARE

Target Group

ü  Diagnostic Centers, Pathology Laboratories, Physiotherapy centers etc

ü  Eye treatment Centers, ENT treatment Centers, Small and Medium size specialty clients like skin clinics, dental clinics, dialysis centers, endoscopy centers, IVF    centers, poly clinics, X-ray labs, CT scan Centers, MRI Centers, Ultra sound centers etc.,

ü  Qualified Medical Practitioners / Entrepreneurs

o   For purchase of Medical equipments required for setting up of Diagnostic Centre, Pathology labs, X- ray labs, CT scan Centres, MRI Centres, Ultra sound centres etc and centres including tie-up with professionals – For existing and new customers.

o   For Outright purchase / construction of Building for setting up Diagnostic centres / Nursing Home/ Other Medical facilities

o   Renovation of existing Diagnostic Centre / Hospitals / Nursing home, Rehabilitation centres.

o   Working Capital requirements.

v  Individuals/ Proprietorship Firms/ Partnership Firms/ Corporates/ and any other valid legal entities.

v  Promoters or their spouse should be qualified medical practitioners with minimum satisfactory track record of above two years.

v  Entrepreneurs without medical qualifications are also eligible to avail loan under the scheme subject to engagement of suitable professionals with requisite skills / tie-up arrangements with professionals (Medical Practitioners).

v  Net worth of the borrower / existing unit should be positive.

v  CMR of 1 to 4 or equivalent CIC score.

v  In case of CMR 5 or equivalent CIC score / CMR-NA, Credit policy guidelines to be complied.

New Units:

v  Entrepreneurs with experience upto 2 years.

v  New Enterprises with experienced promoters are also eligible.

Both existing and new units should have the required approvals/ registrations from the statutory/ regulatory authority.

Non-Fund Based : BG/LC.

*Assessment will be based on cashflow of the project and compliance to DSCR.

·         Maximum Loan Amount: As below

*based on location of the unit.

·         For proposals with exposure above Rs.5 Crs – FGMCAC upto their discretionary authority is empowered with 75% security by way of immovable properties / liquid securities in Metro / Urban Centres.

Deviation if any, will be approved by COLCC(GM).

Collateral Security:

Personal Guarantee:

• Personal Guarantee of property owner/s whose security has been considered.
• Corporate Guarantee of group concern/s which had offered the security.
• Personal Guarantee of Partners / Directors as per extant guidelines.

a) Accounts having Immovable properties / liquid securities / Hybrid Security:

b) Accounts with CGTMSE Coverage:

ROI for Outright purchase / Construction of Building for setting up Diagnostic Centres / Nursing Home / Other Medical facilities

Method of Repayment:

Principal in equal Monthly Instalments.

Equated Monthly Instalments (EMIs)

Negotiated repayment of principal – Ballooning repayment based on repaying capacity.  DSCR to be complied in case of Term Loan.

Interest to be serviced during holiday period.

Working Capital : On Demand

Other Constitution based documents and applicable documents as per documentation manual.

Charges

ü  Documentation charges – 50 % Card Rate

ü  Other Charges as per Service Charges Circular.

ü  100% concession in Processing fee , Documentation charges in case of takeover.

*Any deviation in benchmark ratios to be dealt as per delegated powers.

·         Sanction letter of existing banker to be obtained to verify the loan repayment is in order as per sanction terms.

·         Accounts should have Standard Asset Classification with the existing banks and recorded net profit after tax in the previous year and at least two years out of last 3 years, unless the account is in operation for less than three years.

·         All facilities of the borrower (instead of select facilities) should be taken over from the existing banks.

·         Repayment terms are same as per existing loan taken over from other banks / financial institutions. i.e. no extension from the original repayment

·         Security of assets charged for the facilities (Primary, Collateral, Personal / Corporate Guarantee) will continue as security to our Bank.

·         Liquidation of liabilities of loan from FIs / banks may be considered, provided those liabilities were / are in order.

·         For detailed guidelines , please refer Page No. 52 to 56 of Credit Policy 2023-24.

2.    Amount should be remitted directly to the dealers / suppliers by means of DD / NEFT / RTGS.

3.    Unit should obtain necessary approvals from the appropriate / statutory/ regulatory authorities as applicable for setting up hospitals, nursing home, clinics etc.

4.    All securities should be adequately insured with Bank Clause – Premium to be borne by the borrower.

5.    Wherever term loan alone is sanctioned, it should be our endeavour to bring current account of borrower into our fold, to ensure that cash flow is captured and risk of default is mitigated

6.    Promoters’ contribution should be brought up front proportionately / or as per sanction terms.

7.    Pre-Release Audit/Legal Audit/ Deva are to be conducted as per extant guidelines of Credit Policy.

8.    Charges to be registered with ROC/other authorities as per extant guidelines.

9.    Compliance to KYC/ AML and other guidelines to be ensured.

10.  Credit Policy guidelines to be complied. Any modifications in the credit policy from time to time will form integral part of the scheme.

11.  Loan should be utilized for the purpose sanctioned and end use to be monitored through unit visits and other credit tools available for monitoring.

12.  Assessment criteria for Working Capital / TL /NFB facilities as per Credit policy. Working Capital assessment will be based on cash budget method.

13.  Common Application for MSMEs and checklist of documents should be used as ready reckoner, as given in Circular Adv-181 / 2019-20 dated 16/03/2020.

14.  Standardised Credit Appraisal formats to be used as per existing practice. Appraisal formats are available on MSME dashboard also.

15.  Relaxation if any of the product features to be placed to COLCC(GM) for approval.