Central Bank of India offers a wide range of MSME loans for customers. The bank has sixteen different loan schemes listed on its website for MSME customers. We take a look at 6 of them:
Loan #1: Central Bank of India Cent Mortgage Loan
This scheme helps MSME businesses take a loan against property for business needs. The immovable property must be located in metro, urban or semi-urban centres. Property located in rural centres is also eligible for this loan if it is being mortgaged for purposes other than for agricultural use. The loan can be availed as Overdraft Facility (OD) or Term Loan.
Loan #2: Central Bank of India Cent Mortgage Loan for Educational Institutions
This loan is a subtype of the Cent Mortgage Loan and helps small to medium educational institutions take care of their financial needs. Like the mortgage loan, the immovable property must be located in metro, urban or semi-urban centres and the loan can be taken as an overdraft or a term loan.
Loan #3: Central Bank of India Cent Kalyani Loan
This scheme helps women running MSME businesses take care of their working capital and capital expenditure requirements. This is one of the bank’s initiatives to empower and encourage women to engage in income-generating activities. All MSME businesses where the management has a women-majority or partnerships where a majority of partners are women are eligible for this loan.
Loan #4: Central Bank of India Cent Warehouse Receipt (WHR) Scheme
This scheme provides financial assistance to farmers, traders, exporters and importers dealing with non-perishable agricultural commodities. This is a need-based short-term loan given against negotiable warehouse receipts issued by repositories approved by WDRA for stocks or goods stored in WRDA-accredited warehouses.
Loan #5: Central Bank of India Loan to Small Road Transport Operators
This loan is meant for the transport sector and helps small to medium road transport operators buy commercial vehicles. This loan can be availed on the purchase of brand new vehicles as well as pre-owned vehicles for business use. Existing transport operators are also eligible for this loan as well as new businesses.
Loan #6: Central Bank of India Cent Trade Loan for MSME Units
This helps businesses in the MSME sector meet their working capital needs. Maximum loan amount is Rs. 5 crore for this scheme. The loan is usually offered as an OD facility and in certain circumstances as a term loan.
A Bonus for You: A generic business loan meant for any micro enterprise that is at least 3 years old.
Loan #7: Central Bank of India Laghu Udyami Loan
This loan helps businesses in the micro-enterprises sector meet their capital expenditure and working capital requirements. The business must have been active for the past 3 years to be eligible for this loan. Maximum loan amount sanctioned under this loan depends on the location of the business.
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