Sanctioning Authority
Loans upto
Rs. 5 lakhs - General Manager Regular long term loan is considered for creation of capital assets for
new projects/expansion, diversification, modernisation, etc., which is
eligible for refinance from SIDBI / IDBI. This is normally repayable between
5-8 years.
Loan under Equipment Finance is extended to only established units which
are in profit for the last 2 years and have good tract record including
payment of its dues.
Loans under Extended Credit Scheme are considered for land and building
also along with the plant and machinery and other assets.
Interim term loan or bridge loan is considered only for the cases where
regular term loan is sanctioned.
The sanction letter of loan is communicated to the applicant concern
within 7 days from the date of approval of the proposal / minutes. This
is enclosed with special conditions stipulated along with the general
terms applicable for financial assistance. A brief brochure which explains
"How to obtain EDC funds faster" is furnished to the applicant
along with sanction letter. The draft of the acceptance letter is also
enclosed therewith. The copies of sanction letter are marked to the Legal
Division. Computer Cell, Disbursement File, Follow-up File, participating
institution if any. The sanction letter is issued by the concerned head
of department i.e. G.M./Dy.G.M.
Loans upto Rs. 20 lakhs - Managing Director
Loans above Rs. 20 lakhs - Board
Copyright © EDC Limited 1999-2000. All rights reserved.
Site designed and maintained by netmagic, Goa, India
Optimised for IE4.0+ at 800x600 resolution.