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SBI Loan Scheme: SBI is giving 50 lakh rupees to start a small business

SBI Loan Scheme
Written by bobby
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SBI Loan Scheme: SBI is giving 50 lakh rupees to start a small business: If you want to take working capital for manufacturing or trade and services business, you can easily take a loan of up to Rs 50 lakh under SBI’s SME Smart Score loan facility. SBI Scheme Small Business Loan: If you also want to start a small business, then the State Bank of India can help you well. If you want to take working capital for the Manufacturing or Trade and Services business, SBI has come up with the best plan for you. Under SBI’s SME Smart Score loan facility, you can easily take a loan of up to Rs 50 lakh.

These people apply

Let us tell you that SME Smart Score from SBI is a cash credit/term loan facility. Any public/private limited company, partnership firm, or SSI of the MSME sector can apply for the Trading and Service Sector Loan facility under C&I and SBF segment. You can use this loan for working capital.

How to get the loan

In SME Smart Score, a minimum loan of Rs 10 lakh and a maximum of Rs 50 lakh is available for manufacturing, trade, and services units. This includes 20 percent of working capital margin and 33 percent of term loans. Chief Promoter / Chief Executive can apply for SME Smart Score Loan. Your age should be between 18 years to 65 years.

Here is the process

SBI is linked to the bank’s EBLR. Its fee has been fixed at 0.40 percent of the loan amount. There is no collateral security in this. All loans are covered under Credit Guarantee Fund Trust Fund for Micro and Small Enterprises (CGTMSE).

This is the loan tenure

According to SBI, the cash credit loan will be reviewed every 2 years. Also, there will be an annual review of your business. The repayment tenure for term loan/draw line OD will not exceed 7 years. After this, a time of 6 months (Moratorium) can be given.

About the author

bobby

Hi, I am Bobby. Blogger India. I love writing, and reading articles. Blogging is my passion. I have started my blogging career in 2016.

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