State Bank of India is the biggest bank of India and since its inception the entrepreneurs have been focus of this bank. Entrepreneur Scheme is such a scheme which provided loans to technically qualified, trained and experienced entrepreneurs for setting up new viable industrial projects.
Loans under this scheme are extended to technocrats who are unable to meet the margin money requirements under the new liberalized schemes. Perhaps, this scheme is not for setting up projects rather loans are distributed to encourage entrepreneurs to set up industries.
- SBI provides three types of financial assistance: a) Term Loans, b) Working Capital and c) Equity Fund Finance.
- For loans up to 5 Lakh, the loan seekers don’t have to contribute margin money.
- For loans more than 5 Lakh and less than 20 Lakh, they have to contribute 10% as margin money.
- The loan seeker should have a technical degree: a degree or diploma holder in engineering or technology.
- Degree in business and industrial management.
- A craftsman with considerable experience or adequate training.
- Chartered accountant or a cost accountant with relevant experience.
To apply for this scheme, visit your nearest SBI branch.
For assistance, Contact Us.