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Date :23/01/2020

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Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

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D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

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H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

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K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
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I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

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Date :23/01/2020

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हिंदी में पढ़े
Updated: 14-01-2020 07:26:26 AM

State Bank of India offers business loan to meet the varied needs of large business houses as well as Small and Medium Enterprises (SME). These loans can be secured as well as unsecured. SBI also assists businesses in availing loans under government schemes such as PMEGP, PM Mudra Yojna, CGTMSE and Stand-up India.

In addition to the SME Business Loans, SBI caters to the Mid-Corporate Group that are defined as entities availing aggregate limits of above ₹ 50 Crores and up to ₹ 500 Crores. Financial assistance is extended to these entities in the form of working capital finance, project finance, corporate term loans, structured finance, dealer financing, loan syndication, construction equipment loans, etc.

SBI Business Loan Interest Rates
SBI Business Loans for SME
SME Government Schemes
SBI Business Loan Documents Required
SBI Business Loan Customer Care

SBI Business Loan Interest Rates

The table given below shows the interest rate range for SME business loans offered by SBI.

  SBI Business Loan/SME Loan Interest Rate – 2020
Supply Chain Finance8.80% onwards
CGTMSE8.25% onwards
Doctor Plus10.25% onwards
PMEGP/KVIC11.35% onwards
SBI Asset Backed Loan10.20% onwards
SBI Asset Backed Loan for Commercial Real Estate10.95% onwards
Electronic Dealer Finance Scheme8.45% onwards
SME Construction Equipment Loan9.40% onwards
SBI Fleet Finance Scheme8.65% onwards
Warehouse Receipt Financing8.90% onwards
Lease Rental Discounting11% onwards
Arthias Plus Scheme8.90% onwards
Dal Mill Plus8.80% onwards
Cotton Ginning Plus8.80% onwards
SME Credit Card10.40% onwards
Weavers Credit Card10.65% onwards
Artisan Credit Card10.65% onwards
Medical Equipment Finance Scheme10.40% onwards
SBI e-Smart SME e-Commerce Loans9.90% onwards

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank, NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.

Note: As per SBI, 1 yr MCLR effective from 10th Dec, 2019 is 7.90%

Check – Business Loan Interest Rate of Top Banks

SBI Business Loans for SME

1- SBI Asset Backed Loan

This business loan can be taken for the purpose of building current and fixed assets of a business. Such assets may be needed for business modernization, capacity expansion, arranging for short-term working capital, etc. It is a drop-line overdraft facility wherein applicant can withdraw funds from his/her current account up to a certain limit. Some key characteristics of this loan are given below-

Minimum Loan Amount10 Lakh
Maximum Loan Amount20 Crore
Repayment TenureUp to 15 years
Processing Fee1% of the limits with maximum cap of 10 Lakh
MarginMinimum 25% cash margin for NFB facility

Eligibility Criteria

  • Applicant must be a customer of SBI, availing credit facility from them
  • A business must have marketable assets to offer as collateral to the bank
  • Takeover of existing business loan from other banks can also be done provided the borrower has a satisfactory track record

2- SBI Loan for Commercial Real Estate

Business houses can take this type of loan from SBI to purchase a commercial property which could be a retail space, warehouse, restaurant, hotel, storage space, gym or office building. This loan is also offered in the form of a drop-line overdraft. Key features of this SBI Business Loan include:

Minimum Loan Amount10 Lakh
Maximum Loan AmountFor Tier II and Tier III branches- 20 Crore

For Tier I branches- 50 Crore

Repayment TenureUp to 6 years
Processing Fee1% of the limits with maximum cap of 10 Lakh
Margin25% for both working capital and fixed assets

Eligibility Criteria

  • Applicant must have availed a credit facility from SBI
  • The business must have marketable assets which can be offered as collateral to the bank
  • Takeover of existing business loan from other banks can also be done provided that the borrower has a satisfactory track record

3- SBI Doctor Plus Scheme

This term loan is offered by SBI to medical practitioners, especially those of allopathic discipline. Hospitals, X-ray labs, pathological clinics, nursing homes and polyclinics are also eligible. The loan proceeds can be used for buying equipment, setting up a new clinic or drug store or for expanding existing medical premises. Some key features of this SBI Business Loan are:

Minimum Loan Amount10 Lakh
Maximum Loan Amount5 Crore
Repayment Tenure3-7 years (moratorium period of 6 months)
Processing Fee50% concession on card rates
Margin15% uniformly

Eligibility Criteria

  • Individuals/Partnerships/ Corporate/Trusts
  • Promoters/applicants should be registered practitioners and must be qualified to practice allopathy

Collateral Security

  • For loan amounts up to ₹ 2 Crores, no collateral is required. Such applicants will be covered under the Credit Guarantee Fund Trust For Micro and Small Enterprises (CGTMSE)
  • For loans above ₹ 2 Crore and up to ₹ 5 Crore, minimum 25% tangible collateral security and Personal guarantee of promoters will be required

4- SBI Fleet Finance

This SBI Business Loan is a type of term loan targeted for fleet operators such as goods transport or passenger transport. The loan proceeds can be used for purchasing new vehicles. Following are the important elements of this loan:

Minimum Loan Amount50 Lakh
Maximum Loan Amount10 Crore
Repayment TenureUp to 66 months
Processing Fee1% of the limit
MarginFor Cost of Chasis : 5% (score b/w 35-60%) & 0% (above 60% score)

For Cost of Body : 45% (score b/w 35-60%) & 40% (above 60% score)

For fully built model : 10% (score b/w 35-60%) & 5% (above 60% score)

Other expenses : Min. 50%

Eligibility Criteria 

  • Fleet operators having more than 2 years’ experience in the field
  • Fleet operators should have at least 10 vehicles in the fleet
  • Loan can be taken for the purpose of buying minimum 10 new vehicles or a minimum loan of ₹ 50 Lakh must be availed
  • Transport operators holding national/state route permit and other necessary permits required

Collateral Security

  • For loan amounts up to ₹ 1 Crore, no collateral is required. Such applicants will be covered under the Credit Guarantee Fund Trust For Micro and Small Enterprises (CGTMSE)
  • For loans above ₹ 1 Crore, minimum 20% tangible collateral security will be required

 5- SBI SME eBiz Loan

This is a cash credit facility by SBI launched to provide financial assistance to people who sell products online through e-commerce portals. Given below are the key points related to this loan-

Minimum Loan Amount50 Lakh
Maximum Loan Amount5 Crore
Processing Fee1% of the limit
MarginFor Cost of Chasis : 5% (score b/w 35-60%) & 0% (above 60% score)

For Cost of Body : 45% (score b/w 35-60%) & 40% (above 60% score)

For fully build model: 10% (score b/w 35-60%) & 5% (above 60% score)

Other expenses: Min. 50%

Eligibility Criteria

  • The applicant must be registered as a seller on an e-Commerce portal for selling products online with at least 6 months track record on any of the major e-Commerce player

6- SBI Simplified Small Business Loan

This is again a drop-line overdraft facility offered to business units engaged in manufacturing or service activities. This SBI Business Loan can be taken for the purpose of building fixed assets and current assets of the business. Important aspects of this loan are:

Minimum Loan Amount10 Lakh
Maximum Loan Amount25 Lakh
Repayment TenureUp to 5 years
Processing Fee₹ 7,500
Margin10% which will be ensured through stocks and receivable statement

Check – Business Loan Eligibility Criteria

7- e Dealer Finance Scheme

This is a cash credit facility offered to dealers who are working on a fully-electronic platform. Dealers include authorized distributors, stockiest, franchisees, etc. All authorized dealers of Industry Majors (IM) with whom SBI has tie-up arrangement are eligible for this finance scheme. Following are the key aspects related to this loan:

Minimum Loan AmountNeed based
Maximum Loan AmountPast Performance or Projected Sales, whichever is higher
Credit PeriodUp to 90 days; Yearly renewal
Processing FeeFrom ₹ 10,000 to ₹ 30,000
MarginNil. 100% finance to dealers

8- e Vendor Finance Scheme

This is again a cash credit scheme offered to vendors of reputed corporates. This is a completely web based solution and provides instant credit to such vendors. The corporates with which the vendors are dealing should have a tie-up arrangement with SBI in order for the vendors to be eligible for this scheme. Important aspects of this SBI Business Loan are:

Minimum Loan AmountNeed based
Credit PeriodAccording to tenor of the receivables
Processing FeeFrom ₹ 10,000 to ₹ 50,000
MarginNil

This financing will be made to the vendors against the supply of goods and services to corporates or industry majors. Repayment can be done through cash, cheque, NEFT, RTGS, etc.

9- Export Packing Credit

This is a type of pre-shipment finance extended by the State Bank of India to manufacturers and merchant exporters. The proceeds of this SBI Business Loan can be utilized towards the purchase of raw materials, processing, packing, warehousing and transportation of goods meant for export. Some important elements of this business loan are:

Minimum Loan AmountNeed based
Credit PeriodDepending on the manufacturing / trade cycle, usually not extending 180 days
Processing FeeAs applicable to cash Credit Facility/Working Capital Limits
MarginDepending on the nature of order, commodity, capability of exporter, etc. and RBI guidelines regarding the same

10- Medical Equipment Finance

This SBI Business Loan is offered to path labs, diagnostic centers, nursing homes, etc. for the purchase of medical equipment. Some important points related to this facility are:

Minimum Loan Amount₹ 10 Lakh
Maximum Loan Amount₹ 20 Crore
Repayment Tenure3-7 years (6 month moratorium period)
Processing Fee50% concession on card rates
Margin15% uniformly

Eligibility Criteria

  • Individuals, corporates, partnerships, trusts and societies can apply for this loan
  • Minimum 3 years of operation is mandatory at a diagnostic center or other such eligible practices
  • Applicant should have an ITR
  • The medical center should have all regulatory/statutory approvals
  • It should have tie-up with/employed qualified doctors

Collateral Security

  • No collateral is needed for loans up to ₹ 2 Crore

For loans above ₹ 2 Crore, minimum 25% tangible collateral will be required along with personal promoter guarantee.

SME Government Schemes

1 – Prime Minister Employment Generation Programme (PMEGP)

Implemented by the Khadi and Village Industries Commission (KVIC), this scheme offers financial assistance to individuals who wish to set up new enterprises. The maximum project cost in the manufacturing sector should be ₹ 25 Lakh and ₹ 10 Lakh in the business/services sector.

Any individual above 18 years of age is eligible for this financial assistance. The applicant must have passed the 8th standard for projects costing above ₹ 10 Lakh in the manufacturing sector or above ₹ 5 Lakh for projects belonging to the business/service sector. Societies, self-help groups, production cooperative societies and charitable trusts are also eligible provided that they have not availed financial assistance under any other government scheme.

Applicants can fill out an online form and take a printout of the same along with Detailed Project Report and other required documents and submit at the respective office.

2 – Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)

The Ministry of Micro, Small & Medium Enterprises (MSME) has launched CGTMSE to make bank credit available to SMEs without the hassle of collateral or third-party guarantee. The main objective of the scheme is that the lender should give utmost importance to project viability and provide funding purely on the primary security of the assets financed. Moreover, the lender availing guarantee facility should endeavor to give composite credit to the borrowers so that the borrowers obtain both term loan and working capital facilities from a single agency.

The Credit Guarantee scheme (CGS) reassures the lender bank that in case a MSE unit fails to discharge its liabilities, the Guarantee Trust would cover the loss incurred by the lender up to 50/75/80/85 per cent of the credit facility. The maximum credit cap is set at ₹ 200 Lakhs.

For details regarding CGTMSE, click here.

3 – Stand up India

Under the Stand-up India scheme, bank loans will be provided between ₹ 10 Lakh and ₹ 1 Crore to at least one Scheduled Tribe (ST) and Scheduled Caste (SC) borrower and at least to one woman borrower per bank branch. This loan is offered for setting up a Greenfield enterprise in manufacturing, trading or the services sector.

Applicants can fill out an online form. They can also choose a preferred lender. Alternately, they can visit a branch of their preferred bank and apply directly.

4 – Pradhan Mantri MUDRA Yojana (PMMY)

Launched by the Prime Minister in 2015, PMMY helps non-corporate, non-farm small/micro enterprises secure financial assistance. Loans can be availed from commercial banks, Regional Rural Banks, Cooperative Banks, Small Finance Banks, MFIs as well as Non-Banking Financial Corporations. Loans up to ₹ 10 Lakh can be availed under the scheme. Products are classified as Shishu, Kishore and Tarun to categorize the enterprises according to growth and funding needs of the beneficiary micro unit/entrepreneur.

  • Shishu : covering loans up to ₹ 50,000
  • Kishor : covering loans above ₹ 50,000 and up to ₹ 5 Lakh
  • Tarun : covering loans above ₹ 5 lakh and up to ₹ 10 Lakh

Click here to read in detail about the offering of Mudra Loan by the Government of India.

SBI Business Loan Documents Required

The documentation requirements for SBI Business Loans differ on the basis of the type of loan. Here we have compiled a list of some common business documents which may be needed at the time of application.

  • PAN Card of Primary Applicant or of the Enterprise
  • Duly filled application form with passport-size photograph
  • Identity Proof of the applicant: Voter ID, Passport, Driving License, Aadhaar Card, etc. are accepted by the bank
  • Address Proof: Driving License, Voter’s ID, Passport, Telephone Bill, Electricity Bill (Not older than 3 months), Sale Agreement / Bank Statement (not older than 3 months) Registered Lease Deed, etc. are accepted by SBI
  • Ownership proof of either residence or office either in the name of applicant or jointly with family members
  • Proof of Business Continuity– Any one of the following document can be submitted-Bank Statement, ITR, Certificate of Incorporation, Shops & Establishment Certificate, Partnership Deed or Sales Tax Challans
  • Financial Documents of the Business such as Profit & Loss Statement and Balance Sheet (duly audited by a registered Chartered Accountant), book-debt and creditors-statement for latest three months, Periodic Stock, etc.

SBI Business Loan Customer Care

SBI Toll-free Number- 1800 11 2211 / 1800 425 3800

Call on 080-26599990; normal call charges may apply. Toll-free numbers can be accessed from all landlines and mobile phones in India.

Disclaimer

Business loan offers are available through partner banks & NBFCs

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