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What are the MSME Loans from State Bank of India (Part 3)
This is the last part of 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, start-ups and new MSME businesses.
- E-Dealer Finance
- E-Vendor Finance
- Fleet Finance
- SBI Export Packing Credit
- Stand-Up India
- Mudra Loan
Let us look at them in some detail.
State Bank of India e-Dealer Finance
This loan helps MSME traders, wholesalers, dealers and distributors get the funds needed for working capital. The loan is a short-term loan to bridge the working capital gap and must be repaid within 90 days. This is a need-based loan and SBI offers 100% finance for this loan as a cash credit facility.
More details of the loan are available here.
State Bank of India e-Vendor Finance
This loan helps vendors of corporates and industry majors get funds for their working capital. This loan is sanctioned only to existing customers of SBI who have been making a profit in business for the last 3 years. This scheme is an online facility and is offered as a cash credit facility. This scheme has a credit period of 90 days and can be renewed on an annual basis.
More details of the loan are available here.
State Bank of India Fleet Finance for MSMEs
This loan helps MSME units in the transportation sector buy new vehicles in the small, light, medium and heavy commercial and passenger vehicle categories for business use. You can apply for a maximum loan amount of Rs 10 crore. State Bank asks for collateral security of immovable property for loans of over Rs 1 crore. Eligible candidates include existing fleet operators for goods or passenger transport sectors as well as individuals, firms, companies, trusts, societies, institutions and associations.
More details of the loan are available here.
State Bank of India Business Export Packing Credit
This loan helps small business exporters get funds to carry out day-to-day operations for pre-shipment activities. It is a type of working capital loan. SBI also offers non-funded assistance under this scheme to help export businesses operate smoothly. This is a need-based loan.
More details of the loan are available here.
State Bank of India Stand-up India Loan Scheme
This loan is designed to help women and SC/ST entrepreneurs set up greenfield enterprises in India. All first-time ventures of women and SC/ST beneficiaries in the manufacturing, trading and services sector are eligible for this loan. The maximum loan amount given under this scheme is Rs 1 crore while the minimum amount is Rs 10 lakh. These loans need to be repaid within 7 years after the moratorium period of 18 months.
More details of the loan are available here.
State Bank of India Mudra Loan Scheme
This loan helps unfunded individuals, proprietors and partnerships running small manufacturing units, fruit and vegetable shops, food service units, repair shops, small industries and so on get funds for their business needs. Like all other Mudra loans, the SBI Mudra Loan is divided into three variants – Shishu, Kishore and Tarun – depending on the type and size of the business. Maximum loan allowed depends on the loan variant applicable to the business. The maximum loan amount sanctioned by the bank is under the Tarun variant and is Rs. 10 lakh.
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.
