The State Bank of India (SBI) announced the Aarogyam Healthcare Business Loan under which the entire healthcare ecosystem, such as hospitals, nursing homes, diagnostic centers, pathology labs , medical devices, equipment manufacturers, suppliers, importers and logistics companies engaged in critical health care procurement can benefit from loans of up to 100 crore repayable over 10 years.
The 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.
In metropolitan centers loans can be granted up to 100 crore, level I and urban centers up to 20 crore and in level II to VI centers up to 10 crore.
âRecipient units / borrowing companies receiving a loan of up to 2 crore yen will not be required to offer a guarantee or guarantee to the bank, as this will be covered by the guarantee scheme of the Guarantee Fund. Micro and Small Business Credit (CGTMSE), “SBI said in a statement.” We believe this special loan product will provide the much needed financial support to enable the expansion / modernization of existing facilities as well as the creation of new ones. facilities, “said Dinesh Khara, chair of the SBI.
With Aarogyam Healthcare Business Loan, our goal is to strengthen healthcare infrastructure across the country, âhe added.
The Aarogyam Healthcare business loan will be eligible as part of the COVID loan portfolio being created by the banks, as announced by the RBI as part of the COVID relief measures.