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SBI Loan Scheme: Nowadays the government is also doing a lot to promote business. SBI, the country's largest government bank, has recently started giving loans up to Rs 50 lakh to small enterprises. If you are also planning to start a business due to lack of funds, then you will not get a better opportunity than this.  

 

The Chopal, SBI Loan Scheme: Today people in India have started giving more importance to business than work. Everyone wants to start their own enterprise. But due to lack of money, many people fail to do so. But the loan scheme of India's largest public sector bank will prove beneficial for such people recently. Well, State Bank of India (SBI news) will help you if you also want to start a small business or want to raise funds for the working capital of an existing business.

Let us tell you that with SBI's SME Smart Score (SME Smart Score) loan facility, you can take an easy loan of up to Rs 50 lakh, which meets the working capital requirements of goods level production or trade and services business. Let us know the process of this loan in detail.
 

Who can take this loan?

According to the information available on the SBI website, SME Smart Score is a cash credit/term loan facility. If you are still unaware about this loan, then let us tell you. SBI MSME Loan Eligibility: To apply for this loan facility, any company of public/private limited company, partnership firm, or trading and service sector falling under SSI, C&I and SBF segment can apply for this facility. This loan is capable of purchasing working capital or fixed assets.

How much loan will be available from this loan facility?

If you are unaware about the loan, then let us tell you that under SME Smart Score, production, sales and service units can get a loan ranging from Rs 10 lakh to Rs 50 lakh. 33% of term loan and 20% of margin working capital are included in this. You can get a loan in this way under SBI loan scheme. 

Look at loan pricing and collateral security  

According to the news, SBI SME Loan will also be available at competitive pricing and is also linked to the bank's EBLR. Fees and charges are 0.40% of the loan amount. There will be no collateral rights in this. All loans are included in the Credit Guarantee Fund Trust Fund for Micro and Small Enterprises (CGTMSE). There should be a guarantee fee barrier in this. 

Will there be a repayment period for this loan?

According to the official website of SBI, the cash credit loan will be reviewed every two years. The business performance will also be reviewed every year. At the same time, the repayment period for term loan/drawline OD will not exceed 7 years. After this, you can get a moratorium of six months. All loans will be reviewed on an annual basis.

What should be the loan eligibility? 

Key promoters or key executives are eligible for SME Smart Score loan. They should be between 18 and 65 years of age. 

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