Government of India through Ministry of Finance, Department of Financial Services has introduced the Emergency Credit Line Guarantee Scheme (ECLGS) for providing 100% guarantee coverage for additional working capital term loans (in case of Banks and Fls) and additional term loans (in case of NBFCs) upto 20% of their entire outstanding credit upto Rs.25 crore i.e. upto Rs.5 crore, as on February 29, 2020, subject to the account being less than or equal to 60 days past due as on that date.
The Fund and the Scheme will be managed and operated by National Credit Guarantee Trustee Company Ltd. (NCGTC), which is a wholly owned trustee company of Government of India.
Profectus Capital Pvt. Ltd is registered as a Member Lender Institute (MLI) and in line with the scheme guidelines, will offer additional term loans to its existing customers upto 20% of their entire outstanding credit. Profectus Capital is presently in process of reaching out to all eligible existing customers and will offer this additional Term Loan within the guidelines issued by Ministry of Finance, Department of Financial Services.