SBI for SME provides financial assistance to authorized Sellers of Snapdeal or Flipkart engaged in selling products through online portal of Snapdeal or Flipkart. Sellers have to be registered with the online portal for a minimum of 6 months tenure can avail this smart loan. It is available under MUDRA Scheme.
Eligibility for SBI SME e-Commerce Loans
Sellers registered with e-tailer (Snapdeal / Flipkart) for a minimum tenure of 6 months and to be applied through e-Commerce seller portal. Financing Limit Assessment will be computed as follows:
2 to 3 times x Average of last 3 month net-sales routed through Snapdeal / Flipkart Platform.
Loan Amount for SME e-Commerce Scheme
It is given as working capital loan minimum of Rs. 1.00 Lakhand upto Rs. 25.00 Lakhs. The margin to be 20%
Interest Rate of SME e-Commerce Loans
Present Base Rate is 9.30%
- For Loans below ticket size of Rs. 10.00 Lakhs (Under MUDRA)
- For Manufacturing Units: BR + 2.00%
- Trading Units: BR + 2.30%
- For Loans above ticket size of Rs. 10.00 Lakhs:
- For Manufacturing Units: BR + 1.7% to BR + 3.70%
- For Trading Units: BR + 2.20% to BR + 4.20 %
Processing fee SME e-Commerce Loans
0.399% + S.T
Repayment of SME e-Commerce Loans
Working Capital: Up to 1 year
Collateral Security for SME e-Commerce Loans
- Loan Amount up to Rs.10 lacs: Nil collateral security.
- Loan amount above Rs. 25 lacs: 25% Collateral.
Special feature of SME e-Commerce Loans
- Concession of 0.25% for Women Entrepreneurs
- Concession of 0.50% to 1.00% for sellers with 50% to 100% collateral
Documents Required for SME e-Commerce Loans
- PAN Card of Directors/Proprietor/Partners and business unit
- Address Proof
- VAT registration copy or last filled VAT Return
- Month bank account statement
- Collateral documents (in case of loans above Rs. 10 Lakhs)