Each EE Loan, eligible under PRGFEE will entail a one-time Guarantee Fee of 1%, plus applicable service tax, of the amount guaranteed for each project, if borrower is a male entrepreneur and payable after approval and before signing of guarantee agreement. In case the borrower is a female entrepreneur, the Guarantee fee would be 0.50% plus applicable service tax of the amount guaranteed for each project, provided that:
• ESCO company is managed by one or more female entrepreneurs who have stake not less than 51% of the total equity.
Upon signing of the Guarantee Agreement and disbursement of first tranche of the loan by the bank , this fee shall be non-refundable. However in case of non-disbursement of first tranche of loan within six months from date of signing of guarantee agreement, 50% of the guarantee fee shall be refunded to the PFI on recieval of such request from the PFI maximum within a period of nine months of signing of guarantee agreement, beyond which the guarantee fee shall be non-refundable
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