SBI’s Construction Equipment Loan Scheme

In a bid to expand their businesses, MSME sector always has requirement for working capital. From manufacturing to trading to services, different businesses have requirement for funds to generate more revenue, expand and generate employment. One of the sectors which needs funds on a timely basis is Construction. SBI’s Construction Equipment Loan Scheme is helping entrepreneurs making it big in life. Sanjay Srivastava, General Manager, SBI, said, “Make in India and Infra are focus of the Govt of India. We need to have a set of contractors ready with equipment and machinery. We have this product with competitive rate of interest. We have tied up with OEMs. We have 300 borrowers and have Rs 500 crore exposure. Our target is to touch Rs 1000 crore within a short span of time. The scheme funds purchase of new construction equip, construction activities such as mining, material handling, earth moving, etc. SBI offers term loan, dropline overdraft facility, competitive interest rates linked to MCLR. SBI’s scheme have made several businesses successful and world-class.