SBI for SME provides Term loan upto 10 crore for existing transport operators owning fleet of commercial vehicles (minimum 10 nos) like Trucks, Trailers, Tankers and buses etc. This scheme cannot be availed by first time users to start a new venture. Loan amount includes cost of body, Insurance, Registration and Road Tax. Optional collateral free security is available in select cases.
Good time for small entrepreneurs! Hassle free loan under Pradhan Mantri Mudra Yojana (PMMY) Scheme from your most trusted bank SBI which is initiated by the Ministry of Finance, Govt. of India to "Fund the Unfunded". PMMY allows loans through Public Sector banks, Regional banks, Rural banks, State and Urban cooperative banks to manufacturing, trading and services sector that comes upto Rs. 10 lakhs fund needs. All of above PMMY is a Collateral Free loan Scheme.
Asset Backed Loan (ABL) against immovable assets or Mortgage of property brings business people a great flexibility showing they are not dependent to any other intermediaries. SBI caters asset backed loan facility to businesses units doing trading, manufacturing and services sectors.
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.
SBI SME Transport Plus Loan for Transport Operators offers term loans for purchase of new transport vehicles at cost on road basis and working capital facilities against the receivables. Loans are available for surface transport operators owning more than 10 well maintained and road worthy vehicles including trucks, tankers, tippers, luxury buses.
Loans to the Owners of Restaurants and Fast food chains for purchase of kitchen equipment, investment in interior decoration, purchase of furniture and fixtures, purchase of land and construction of buildings etc. The loans are repayable in maximum period of 7 years. Simple sanction process.
Term Loans to well established whole sale and Retail Traders, distributors, stockists, construction, transport & supply contractors, hospitals, nursing homes, clinical labs, resorts, travel agents etc for any general purpose such as holding of stocks, book debts, acquisition of land and building, renovation of office/showroom, purchase of vehicles, equipment etc.
SBI has different Term Loan products to boost SME sector depending on purpose of the business they setup. Products are: General purpose term Loan for SSI upto Rs. 50 lakhs, Open term Loan upto Rs. 2.5 Crore and Corporate term Loan upto Rs. 10 Crore or no cap for Corporates.
SBI Shoppe, Loans for present and prospective owners of shops/ offices/ show-rooms/ training centres/ service centres/ garages/ offices for Chartered Accountants/ Consultants for the purchase / repair/ renovation of new/ old shops/ establishments/ offices/ dealer’s showroom etc. Maximum Term loan available is Rs 20 lakhs repayable in 3-7 years.
Every banks deal with "Term Loan" as their financial product to attract customers. Majority of financing institutions are given their product as a term loan. They are probably, short-term loan for buying home appliances or long-term loan for buying a home or inter-mediate term loan for purchasing a car. Here we see the types and features of Term Loan.