- There are two types of loans that SBI offers to help small businesses expand to newer horizons. These include asset-backed loans and collateral free loans.
- Asset-Backed Loans- These loans are secured against property and the proceeds can be used for business purposes such as purchasing of fixed deposits, working capital requirement, capacity expansion and more. Up to Rs. 20 crores can be borrowed under this for repayment tenure of up to 180 months. The loan can be availed up to 60% of the value of the property.
- Collateral Free Loans- SBI offers loans to businesses without the need to put up an asset as collateral. Just like asset-backed loans, these can be utilized for business purposes like those mentioned above. The amount of loan depends on the credit profile of the borrower.
Apart from these, SBI also offers SBI e-Smart for e-Commerce, SME credit card, and SBI Fleet Finance Scheme.