What are the MSME Loans from State Bank of India (Part 2)

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What are the MSME Loans from State Bank of India (Part 2)

Continuing our three-part series on MSME loans from State Bank of India, today we look at 6 MSME loans from SBI that focus on a particular segment of customers.

We look at the final 6 in tomorrow’s post.

Here are the loans we cover in today’s post:

  1. Cotton Ginning Plus
  2. SBI Doctors Plus Loan
  3. SBI Medical Equipment Loan
  4. SBI Loans to Business Correspondents
  5. SBI Overdraft (OD) to Business Correspondents
  6. Warehouse Receipt Finance

Let us look at them in some detail.

Cotton Ginning Plus

This loan is meant for MSME businesses engaged in cotton ginning activities. This is a need-based loan which means that the loan amount sanctioned by the bank depends on the needs as well as the repayment capacity of the borrower. This is a secured loan and offers financial assistance to MSMEs to meet their working capital needs.

SBI Doctors Plus Loan

This loan is meant to help medical practitioners meet their capital expenditures or working capital expenses in their business. As a borrower, you can use the funds for setting up your clinic, nursing home, hospital or pathology labs or purchase equipment, vehicles or ambulance. You can apply for a maximum loan amount of Rs 5 crore. To be eligible, you must be a qualified medical practitioner from any of the different branches of medicine including Allopathy, Homeopathy, Unani and Ayurveda, provided you have experience in running such a business.

More details of the loan are available here.

SBI Medical Equipment Loan

This loan is again for the healthcare sector and helps nursing homes, diagnostic centres, pathology laboratories, ENT centres, dental clinics, medical practitioners, etc. get financial assistance to purchase ancillary equipment for business use. You can apply for a loan of up to Rs 20 crore. Eligible applicants can be individuals, proprietors, LLPs, trusts, companies and societies running medical centres.

More details of the loan are available here.

SBI Loans to Business Correspondents

The loan helps kiosk operators, customer service providers and other business correspondents fund their everyday operations. The loan can be used for investment in current assets, to purchase raw materials, make salary payments, pay electricity bills, etc. It may also be used for expansion of business or acquisition of business assets.

More details of the loan are available here.

SBI Overdraft (OD) to Business Correspondents

This OD loan is similar in terms of end-use and target customer segment like the previous loan for business correspondents. Just that it is given as an overdraft, which means the borrowers must have a satisfactory relationship with the bank for over 2 years. It helps business correspondents finance their everyday operations. They can use the funds to invest in current assets, purchase raw materials, make salary payments and so on.          

More details of the loan are available here.

State Bank of India Warehouse Receipt Finance

This loan provides financial assistance to traders, manufacturers of goods, owners of goods, etc. against electronic Negotiable Warehouse Receipts (NWR) issued by collateral managers. This is a need-based loan and is offered as a cash credit facility, term loan or a revolving demand loan, based on the needs of the borrower.

More details of the loan are available here.

In conclusion:

If you are looking for a small business loan, you can apply right here. We give you access to loans from some of the largest banks and financial institutions in the country.

If you apply through us, you can get quotes from different banks and FIs, which helps you choose the bank that is giving you the lowest interest rate and best terms.

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