SBI has launched the new Aarogyam Healthcare Business Loan
To assist the healthcare system during the current pandemic scenario, SBI has launched a new loan scheme, under which various healthcare firms will be completely covered.
The loan enables them to avail a loan of up to Rs.100 crore on a regional basis, which can be repaid within up to 10 years. This can be either availed as a support for expansion works or as capital facilities like cash credit.
In metro centres, Aarogyam loan can be availed up to Rs 100 crore, Tier I & Urban centres up to Rs 20 crore, and Tier II to Tier VI centres up to Rs 10 crore. No collateral will be required if the loan amount is below Rs.2 crore, as it will be covered under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) guarantee scheme.
“This loan can and will provide the creation of new facilities and much needed financial support to enable modernisation of existing facilities. With Aarogyam Loan, our aim is to strengthen the healthcare situation across the nation.” Chairman Dinesh Khara of SBI said in a statement. Aarogyam business loan will be eligible under the COVID loan book being created by banks announced by RBI.