Mahindra Finance

We care for you!

To meet your operational liabilities and restart your business affected by Covid-19 pandemic, we are offering you the option of Emergency Credit Line Facility – guaranteed by Government of India.

Under this facility you can avail up to 20% of your existing outstanding loan with Mahindra Finance as on 29th February 2020. Details of the scheme are given below

Salient Features of the ECLGS Scheme *:

Scheme Emergency Credit Line Guarantee Scheme (ECLGS) – a Scheme announced by Govt of India on May 23, 2020 for Covid-19 affected Business Enterprise / MSME.
Loan Product Guaranteed Emergency Credit Line (GECL)
Nature of facility Additional term loan upto Rs.5 crore or 20% of outstanding borrowing with Mahindra Finance as on February 29, 2020*
Tenor 4 years
Moratorium 12 months
Repayment In 36 months after 12 month moratorium is over.
Interest to be paid on a monthly basis even during Moratorium.
Security Charge on assets created out of our loan
Collateral No collateral required
Interest Rate Upto 14% p.a.
  • No processing fee
  • No guarantee fee
  • No prepayment penalty
Eligibility Business Enterprise / MSMEs:
  • Having an outstanding loan with Mahindra Finance as on February 29, 2020
  • Total Loan Outstanding upto Rs 25 crs as on Feb 29, 2020
  • Annual turnover upto Rs.100 crore for FY19-20
  • Borrower account should be classified as regular, SMA-0 or SMA-1 (i.e. repayments on time or maximum overdue of upto 60 days) across all its lenders as on Feb 29, 2020.
  • Loans provided in individual capacity are not covered under the Scheme
Guarantee The facility would be backed by 100% guarantee the Government of India through implementing agency - NCGTC (National Credit Guarantee Trustee Company)

* Conditions apply. For more details on the Scheme, please visit or get in touch with your Relationship Manager.