2012-11-01

Corporation Bank offers Rs 20,000 cr loan to SMEs

Public sector lender, Corporation Bank is targeting to offer to Rs 20,000 crore as loans to country’s small and medium enterprises (SMEs) by end of March 2013. The bank has also recently reduced its processing fees by 50 basis points for SME segment durin

Corporation Bank offers Rs 20,000 cr loan to SMEs

Public sector lender, Corporation Bank is targeting to offer to Rs 20,000 crore as loans to country’s small and medium enterprises (SMEs) by end of March 2013. The bank has also recently reduced its processing fees by 50 basis points for SME segment during its loan festival for SMEs that started on October 20th and will run till January 31st next year.

The bank has also launched a credit scheme in which the interest rates would be charged from 11.60 per cent to 12.60 per cent on loans up to Rs 1 crore to the SME sector to encourage lending for SMEs.

B B Tejappa, Mumbai Circle General Manager, Corporation Bank told SMEntrepreneur, “We are offering the 50 per cent concession on the processing charges for SMEs during the festive bonanza. Also, for loans extended to micro and small enterprises up to Rs 1 crore, the rate of interest will be from 11.60 per cent to 12.60 per cent.”

The bank is currently also providing additional concession on interest rate of 25 basis points for women entrepreneurs.

The loan festival has 10 specialised and tailor-made schemes for SMEs including Corp SME Tex Plus Scheme, Corp Term Plus Scheme, Corp SME Auto Plus Scheme, Corp SME Liquid Plus Scheme, Corp SME Gold Card Scheme, Corp SME Receivable Funding, Corp Commercial Vehicle Loan Scheme, Corp Collateral Free Loan Scheme, Corp SME Credit Card Receivable Funding, and Corp Laghu Udhyami Credit Card Scheme.

The bank has launched exclusive SME loan centres in 14 cities across the country. Each SME centre is supported by a team of relationship managers and central credit processing mechanism, said a press release by the bank of its ‘grand festival loan bonanza.’

 

Related opportunities
  • Azvasais well known in the field of Education for its..
    Locations looking for expansion Karnataka
    Establishment year 2009
    Franchising Launch Date 2023
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 44000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bengaluru Karnataka
  • Department & Convenience Stores
    As pioneers in mainstream and ethnic retail in over 60..
    Locations looking for expansion Delhi
    Establishment year 2020
    Franchising Launch Date 2023
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Bike Rental
    2WheelR is a new age, tech-enabled retailing platform for end..
    Locations looking for expansion Maharashtra
    Establishment year 2020
    Franchising Launch Date 2023
    Investment size Rs. 20lakh - 30lakh
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Haveli Maharashtra
  • Others Food Service
    SMGU HANDMADE MASALE, It is one of the famous brands in..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2020
    Investment size Rs. 30lakh - 50lakh
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Haveli Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads