SME fosters economic growth, social stability and contributes to the development of the private sector. SME Loan is offered to fund small and medium sized enterprises. There are various banks in India that work hard to provide SME finance to the small and medium enterprises.
SME loan is offered to finance a new business as well. The main reason why most small and medium enterprises shut down is that they don’t receive financial assistance at the need of hour and they won’t have working capital or any funds to buy plants and machinery to function.
SME Finance for Women
Most of the women entrepreneurs are found in the small scale units. These units are managed by one or more women who have stake not less than 51% in the equity. The banks have realised that there are many such units that need help, hence specific products are offered to the women entrepreneurs to meet their working capital requirement, to expand their business, alteration and renovation of hotels, restaurants or lodges or to acquire plant and machinery, etc.
Loans are also provided for establishing catering units for selling tiffin or food or lunch packs. Other loans offered are:
- Loan for beauty parlour
- Loan for day care centre
- SME easy loan to meet the working capital requirement
- Loan against Property
- Shree Shakti package
“RIOM” has been consistently secured as one of the best and leading loan consultant in terms of SME Loans. We have encouraged our customers to avail the opportunity in getting the SME Loans which help them in day to day working capital requirements.
Facilities offered to SME Units
Following are the facilities offered to the SME units:
- Term loan or demand loan or deferred payment guarantee
- Working capital through cash credit, overdraft etc.
- Bill purchase or discounting
- Export credit facilities
- Foreign or Inland letter of credit
- Bank guarantees
- Standby letter of credit