SBI launches Aarogyam Healthcare Business Loan
Shri Dinesh Khara, Chairman, SBI launched a new product named “Arogyam Healthcare Business Loan”
· This unique loan product is specially designed to support the healthcare ecosystem of the country
· New loans may be availed by way of Cash Credit, Term loan, bank guarantee, letter of credit
· Loan amount ranges from minimum of Rs.10 lakhs to maximum of Rs.100 Cr. (both for expansion & setting up of new facility), repayable in 10 years
· Loans upto Rs. 2 crore will be covered under CGTMSE guarantee scheme
In order to provide enhanced support to the healthcare sector in India amid the pandemic, the State Bank of India has launched the Aarogyam Healthcare Business Loan. Under this new product, entire healthcare ecosystem such as Hospitals, Nursing homes, Diagnostic centres, Pathology labs, Manufacturers, Suppliers, Importers, Logistic firms engaged in critical healthcare supply can avail of loans upto Rs. 100 crore (as per the geographic location) repayable in 10 years.
The Aarogyam Loan can be availed either as term loan to support expansion/modernization or as Working capital facilities such as cash credit, bank guarantee/letter of credit. In metro centres loans under Aarogyam can be availed upto Rs.100 Crores, Tier I & Urban centres upto Rs.20 Crores and in Tier II to Tier VI centres upto Rs.10 Crores.
The beneficiary units/borrowing Companies availing loan of upto Rs. 2 crores will not be required to offer any collateral or security to the bank as this will be covered under the guarantee scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Shri Dinesh Khara, Chairman, SBI while launching the product said, “Our Healthcare system has been providing uninterrupted and phenomenal support over the last year to the country amidst the pandemic. Acknowledging and recognizing their contribution in the wake of Covid-19, we are glad to launch the Aarogyam Healthcare Business Loan for them. We believe this special loan product will provide the much needed financial support to enable expansion/modernization of existing facilities and also creation of new facilities. With Aarogyam Healthcare Business Loan, our endeavour is towards strengthening the healthcare infrastructure across the entire country.”Aarogyam Healthcare Business Loan will be eligible under the COVID loan book being created by banks announced by RBI as part of COVID relief measures.