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Smart SME Products for smart businesses
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Smart SME Products for Smart Businesses
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SME Products

State Bank of India has been playing a vital role in the development of small scale industries since 1956. The Bank has developed a wide array of products to meet the changing needs of the industry. It provides end -to -end solutions for the financial needs of the industry. To service the specific credit needs of small and medium enterprise (SME) the Bank established the Small & Medium Enterprise business unit in 2004.

Apart from the general working capital requirements (like Cash credit, Bill Discounting limits, LC, BG etc) to meet the day to day requirements and term loans to take care of investment needs for acquiring fixed assets, Bank has an array of products/schemes to cater to the enterprise specific require ments of SME Units both in Manufacturing and Trade and services sectors. Brief details of some of the schemes are as under:

For Micro Enterprises and SSIs

SME Credit Card (Up to Rs.10 Lakh)

Product provides loans for the micro enterprises including SSI units, small business enterprises, professional and self employed persons, small retail traders, transport operators etc for meeting any kind of credit requirement including purchase of shops, maximum limit being Rs 10 lakhs including term loan & working capital loan. The loan will be sanctioned for 3 years with an annual review. This product has simplified sanction process without requirement of elaborate financial data.
The borrower will be provided a photo identity card and a passbook giving details of the limit and validity of the facility. A cheque book marked as SME Credit Card and a pass book would be issued to the customer.

SME Smart Score (Up to Rs.50 Lakh)
The Loan product is for units in Micro and Small Enterprise sector in manu facturing trade and services segments to meet working capital needs and for acquisition of fixed assets. A simplified appraisal model has been de veloped to standardize the appraisal process for loans upto Rs 50 lakhs in SSI sector and upto Rs 25 lakhs for trade and services sector available with attractive interest rates. The loan will be sanctioned for 2 years with an an nual review.

Food processing

Rice Mill Plus
Term loan for acquisition of machinery/factory building for modernization/ expansion and working capital needs of Rice Mills engaged in milling, sorting, grading and polishing. No upper ceiling on loan amount.

Dal Mill Plus
Term loan for Dal mill owners for acquisition of machinery, factory building, modernization and all working capital needs.
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