Small and Medium Business LoansSME loans like existing & green Projects, Secured & Unsecured loans are specifically designed by Nationalized, Scheduled, Private banks & NBFCs to facilitate the small & medium business owners in getting project based finance to meet their working capital and growth needs.
SME business loans offer a great relief for the business owners to fulfill the working capital and growth needs. Small and medium business owners need to keep in mind the global economic fluctuations that any financial institution will account for when giving credit.
Two Basic Classification of SME Loans
There are different types of loans that are available in the market. However, they are all classified broadly under Secured and Unsecured loans
Secured SME Loans
These loans provide you with the necessary working capital requirement, business expansion, purchases, etc. You can avail secured loans based on total asset value provided as collateral. The sanction amount will be from 25 Lakhs onwards based on the company’s financial strength.
Unsecured SME Loans
These loans are given to help you in meeting your working capital needs, business expansion plans, purchase of any equipment, etc. Unsecured business loans can be provided [based on turnover – above one crore] from 5 Lakhs onwards. You can avail these loans without security.
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