SBI Aarogyam Healthcare Business Loan: State Bank of India (SBI) has launched a new business loan product ‘Arogyam Healthcare Business Loan’ to support the healthcare sector. This loan can be taken through cash credit, term loan, bank guarantee or letter of credit. In this, businessmen will be able to get a minimum loan of 10 lakhs and maximum up to 100 crores. A special feature of this product is that it will get 10 years for repayment tenure i.e. to repay the loan. Also, loans up to Rs 2 crore will be covered under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.
who will get this loan
SBI’s Aarogya Healthcare Business Loan product can be availed by the institutions associated with the healthcare ecosystem like hospitals, nursing homes, diagnostic centers, pathology labs, manufacturers, suppliers, importers and logistics companies engaged in the work of critical healthcare supplies. Arogyam loan can be taken as a term loan or cash credit, bank guarantee. Loan as capital can be used for setting up new units or expansion of old business.
Loan up to 100 crores in metro cities
A loan of Rs 100 crore can be taken under the Arogyam Loan Scheme in metro cities. Loan up to 20 crores can be available on Tier-1 and Urban Center. At the same time, a provision has been made to give loans up to Rs 10 crore to institutions operating in Tier-2 to Tier-4 cities.
Loan collateral free up to 2 crores
Another feature of Aarogya Healthcare Business Loan is that companies taking loans up to Rs 2 crore will not be required to deposit any collateral or security with the bank. This loan will be fully covered under the Guarantee Scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The provision of Arogyam Healthcare Business Loan has been made under the Covid Loan Book. Recently, the Reserve Bank had announced to take such steps under the Covid relief measures.
