SBI introduces short-term loan facility
Posted on: 13/Oct/2017 12:21:47 PM
The State Bank of India has introduced a new facility of providing short-term loans for the micro, small and medium enterprises (MSMEs) as investment capital, The plan is known as ‘MSME Assist’.
SBI has informed about this facility that the short-term loan amount will be based on the refund expected for the input credit claims out of the GST paid by the companies
Under this facility, all the MSMEs can avail short-term loan under low interest and repay the same in monthly installments.
With this facility, these industries can meet the capital requirements till they get the refund of the input credit claims.
The processing fee for getting this short-term loan is Rs. 2000.
The companies applying for this facility need to furnish a certificate signed by the auditor confirming the details of the input credit claims.
The MSMEs which are customers of the State Bank of India can avail this short-term loan facility till 31st March 2018.
