State Bank of India (SBI) offers a vast array of loans to cater to the financial needs of the Small and Micro Enterprises (SME) sector. Individuals who are engaged in income-generating activities in the manufacturing, trading, and services sectors can avail loans ranging between Rs.5 lakh and Rs.500 crore. The interest rates charged on these loans range between
Amount of Loan
The minimum and maximum amount of loan can be acquired specified below:
Minimum: The minimum loan amount of above Rs.50 Lakhs can be obtained.
Maximum: The maximum loan amount of up to Rs. 500Lakhs can be obtained.
Security
Primary Security: Hypothecation of stocks and assignment of receivables.
Collateral Security: Minimum 35% collateral (in the form of SARFAESI compliant land/building, and liquid securities in the way of Bank Deposits, LIC, NSC, KVP pledged or specified to the Bank).
Guarantee: Personal guarantee of all the Directors or Partners or Promoters of the unit.
Purpose of SME eBiz Loan
SBI SME eBiz Loan is a cash credit facility introduced by SBI to provide financial assistance to people who sell products online through e-commerce portals. It is a small business loan given to authorised sellers of products on e-commerce websites such as Amazon or Flipkart.
Processing Fee
First Year: 1.00% of limit sanctioned and additionally with the applicable taxes.
Second year onwards: 0.35% and additionally with the applicable taxes.
Eligibility Criteria
The sellers registered on e-Commerce portal for selling products online with at least six months track report on any of the major e-Commerce player are eligible to avail the SME eBiz Loan benefits.
Documents Required
- Documents regarding registration of firm/shop/manufacturing unit.
- Registration certificate of the firm under MSME.
- Copies of sales-tax return filing documents.
- Copies of income tax-return filing documents.
- Drug license (if running a pharmaceutical manufacturing/selling enterprise).
Application Procedure for SME eBiz Loan
Visit Official Portal of SBI
Step 1: The applicant has to visit the official portal of the State Bank of India.
Small and Medium Enterprise
Step 2: Click on “SME” tab which is present on the homepage of the portal.
Step 3: After clicking on “SME” tab a pop-up screen appears where you have to select the “SME” link from the list of options.
Apply for SME
Step 4: On the next page, click on “Click here to Apply” button to apply for SBI SME eBiz Loan online.
Complete the Details
Step 5: Now, the form will appear on the next page fill the form with the required details such as
- Name of Company
- Date of firm creation
- Address of the firm
- Operating address of the firm
- E-mail address of the firm
- Contact Details
- Sector/Industry code
- Permanent Account Number
- GST Number.
Submit your Application
Step 6: After entering the details, click on the “Submit” button to submit your details successfully.
Upload the Documents
Step 7: Finally upload the documents required along with the application form to complete the process.
FAQs
What is the SBI SME eBiz Loan?
The SBI SME eBiz Loan is a financial product offered by the State Bank of India (SBI) to meet the working capital and term loan requirements of Micro, Small, and Medium Enterprises (MSMEs). It is designed to provide easy access to funds for business expansion, equipment purchase, and operational needs.
Who is eligible for the SBI SME eBiz Loan?
- Be registered under the MSME Act.
- Have a minimum operational history, which may vary based on specific loan conditions.
- Maintain a good credit score and financial history.