Simplified-Small Business Loan - MSME Loan / SME Loan Scheme | SBI - Business

Features

• Target Group : All Business units engaged in manufacturing, services activities along with self-employed and professional individuals, wholesale / retail trade.
• Quantum of loan (Min/Max) :
  • Minimum: Above Rs. 10 lakhs
  • Maximum: Rs. 25 lakhs
• Margin (%): 10% which should be ensured through stocks and receivable statement
• Pricing: Competitive pricing linked to EBLR
• Collateral Security :
  • Minimum collateral of 40% in the form of exclusive mortgage charge on Land & Building/cash equivalent like lien/charge on Fixed Deposit, Mutual Fund etc. Realizable value of immovable property to be taken for this purpose and property should be SARFAESI compliant.
  • Personal guarantee of all the directors / partners. However, personal guarantee of Professional director / Independent directors / Nominee directors will not be obtained.
  • Personal Guarantee of the owner of the Collateral Security offered as Mortgage/Pledge.
• Repayment Period: 
  • Cash Credit: Repayable on demand or To be renewed annually.
  • Dropline OD:
    • Limits can be sanctioned for a period ranging from 12 months to 60 months (reducing DP) including a moratorium of a maximum three months. To be reviewed annually.
    • The drawing power shall be reduced monthly so as to have the outstanding liquidated at the end of the repayment period.
    • Regular transactions are permitted upto drawing power available.
    • No over-drawings will be permitted.
    • DP Reduction date or instalment due date will be last working day of every month.
    • After liquidation, in case further loan is required, fresh request to be made
• Unified Charges : Rs. 7500/- plus applicable taxes. Unified annual charges comprising of processing fee, EM charges, documentation charges, Inspection, commitment charges and remittance charges (1 remittance per day free)