By July 1, both private and government run lending institutions had sanctioned a total of Rs. 1.10 lakh crore out of the 3 lakh crore MSME loan package. Recent data points that cumulative loan sanctions stand at Rs. 1.30 lakh crore by July end. Out of the total amount, 17.41% was disbursed by July 1, while the figure rose to 27.35% in the next 22 days, i.e. by July 23. With a target of providing as many as 45 lakh business units funding through the Atma Nirbhar Bharat scheme, loans have been sanctioned to 38.19 lakh accounts and disbursed to 20.16 lakh accounts as per official data. (3)
Private banks are disbursing 5.6 times more amount per account as compared to government run entities with an average lending amount of Rs. 14.95 Lakhs per borrower vis-à-vis Rs. 2.66 Lakhs for PSUs. Private lenders have been doling out big ticket loans with a total sanctioned amount of Rs. 58,673 crore while that of public sector banks stood at Rs. 71,818 crore. The ultimate beneficiary is of course the small business owner, who has easy access to finance even in such tough times to revamp the company.
An SME loan available on Finserv MARKETS comes with competitive interest rates, high loan limit of upto Rs. 30 Lakhs and flexible loan duration anywhere from 12 months to 5 years as per your convenience. So if you have been struggling to keep your enterprise afloat amid a cash crunch, need to pay your staff or necessary bills, office space rent etc, do not shy away from taking a MSME loan.
You can easily apply online for the Bajaj Finserv MSME loan on Finserv MARKETS in a few simple steps. The loan amount is transferred to your bank account within 24 hours of approval! So do not let any hurdle stall your business dreams, opt for a SME loan today and realise your vision.
Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.