Business loan

SBI Launches Aarogyam Healthcare Business Loan

To provide increased support to the healthcare sector amid the pandemic, (SBI) has launched the Aarogyam Healthcare Commercial Loan. Under this new product, the entire healthcare ecosystem such as hospitals, nursing homes, diagnostic centers, pathology laboratories, manufacturers, suppliers, importers, Logistics companies engaged in essential healthcare supply can qualify for loans of up to Rs 100 crore (depending on geographical location) repayable in 10 years, SBI said in a statement.

The Aarogyam loan can be used either as a term loan to support expansion/modernization or as working capital such as cash credit, bank guarantee/letter of credit. he declares.

In metropolitan centres, loans under Aarogyam can be obtained up to Rs 100 crore, Tier I and City centers up to Rs 20 crore and in Tier II to VI centers up to Rs 10 crore, a- he declared.

Beneficiary units/borrowing companies benefiting from a loan of up to Rs 2 crore will not be required to offer any guarantee or security to the bank as this will be covered under the guarantee scheme of the Credit Guarantee Fund for Micro and small businesses (CGTMSE), It said.

SBI Chairman Dinesh Khara said, “We believe that this special loan product will provide the much needed financial support to enable the expansion/upgrading of existing facilities and also the creation of new facilities. all the countries.”

The Aarogyam Healthcare business loan will be eligible under the bank-created COVID loan book announced by RBI as part of the COVID relief measures.