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MAJOR PARAMETERS
A. ELIGIBILITY
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The
Unit and its promoters
Preference
will be given to units established by persons with adequate experience, expertise
and exposure. The determination of the above quality will be guided by the track
record of the promoters, their group affiliations, the management team, academic/professional
qualification and work experience in software development and marketing, infrastructure
available etc. | | . |
The
Services
Services
coming under the following broad categories can be considered for the financing:
-
- Software services including staffing and programming services.
- Project services including custom made software development, systems solution
and integration, maintenance of software etc.
- Software products and packages.
- Information Technology related services. The
following items could be considered while quantifying the requirement of financial
assistance. -
expenses for order canvassing and execution
- expenses on manpower offering
the services
- expenses on purchase of software packages/tools |
B. METHODOLOGY FOR ASSESSMENTS OF FINANCIAL NEEDS .Every
loan proposal is to be assessed based on the following documents: - i)
Operating statement in Form-A
ii) Balance sheet in Form-B
iii) Cash budget
in Form-C
iv) Statement of contract economic in Form-D
v) Project report
and Business plan clearly spelling out:-
- the long term and short term goal
of the unit
- the proposed strategies for development and marketing of software
- the stagewise financial outlay and revenue/cost projections
- the basis
on which the requirement is fixed.
C.
UPPER LIMIT OF ASSISTANCE
.
Loans can be given upto Rs.500 lakhs for corporate
sector and upto Rs.200 lakhs for other sectors.The loan amount has
to be restricted to 2/3rd of the projected requirements.
D.
MINIMUM PROMOTER'S CONTRIBUTION
33 Percent
of the requirement estimated.
E.
DEBT EQUITY RATIO .Maximum
of 2:1
F . MAXIMUM REPAYMENT PERIOD
Upto
six years including a gestation period of upto one year for starting the repayment
of the principal amount. The repayment period can be re-fixed based on the annual
review of the account.
G. SECURITY FOR THE LOAN
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| 1.
Primary Security: A
charge on the existing assets of the unit and primary charge on assets acquired
with the financial assistance of the corporation | | .
| 2.
Collateral Security
Worth
at least 100% of the limit of accommodation sanctioned if
the unit is in own premises Relaxation in requirements of
collateral security can be done based on the track record
and quality of promoters and the unit.
| | .
| 3.
Personal Guaranty Personal
Guaranty of all promoter (s), shareholders having more the 5 percent share in
the equity and co-obligants (if any)
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H.
SANCTIONING AUTHORITY
Managing
Director for all assistance under this scheme, irrespective of amount
involved. All other condition prescribed for sanction by the corporation
would also be applicable. | |
