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After the State Bank of India’s recently launched exclusive startup bank branch, SBI InCube – specialised branch to understand and address banking needs of startups, the bank has taken another leap in this space with the launch of SBI e-Smart SME, a working capital loan offering for sellers on ecommerce platforms, reported VCC.

With this development, sellers can apply for the loan online on the e-commerce platform and get instant sanctioning of the loan.

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This product uses proprietary platform data and surrogates information from public domain to assess the seller’s creditworthiness for loan sanctioning.

The product was launched in partnership with ecommerce platform Snapdeal in the presence of bank’s chairman Arundhati Bhattacharya & Snapdeal CEO Kunal Bahl.

Some of the important features of the product are:

  • Exclusive & easy finance
  • Quick online sanction with KYC documents
  • Lowest interest rates
  • Collateral free loan upto INR 10 Lacs under MUDRA
  • 0.399% processing fee
  • Concession of 0.25% to women entrepreneurs

This new product will enable millions of small brick-and-mortar merchants, who are selling on the ecommerce platform, to overcome their liquidity crunch and expand their business exponentially and digitally.


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