Fleet-Finance - MSME Loan / SME Loan Scheme | SBI - Business

Features

• Target Group: Existing Fleet Operators & Captive Users, Business Enterprises, contractors, Mine owners, Port owners/ operators/ aggregators etc.
• Quantum of loan (Min/Max)
  • Minimum: Rs.50.00 lakhs.
  • Maximum: Rs.50.00 Crs.
• Margin (%) : Margins are linked to the scores under scoring model.

  	Scores between 50% to 60%	Scores above 60%
  For cost of chassis	5%	0%
  For cost of body	30%	30%
  For fully built model	10%	5%
  Other expense (Road tax +Insurance+ Registration)	Minimum 50%	Minimum 50%

• Pricing : Competitive pricing linked to EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%) / 6 Months MCLR
• Repayment Period:
  • Scores between 50% to less than 60%: Max 60 months.
  • Scores 60% and above: Max 66 months Repayment in EMI basis.
  • Negotiated repayment can be done depending on cash accruals.
• Processing Fee/ Upfront Fee: 1% of the loan amount
• Other Charges: Annual Review of Term Loan: 0.05% of the sanctioned loan amount
• Collateral Security: Loans should be covered under CGTMSE. Guarantee fee to be borne by the borrower
• Special Feature
  • Minimum 3 years of experience in transport industry and other businesses. Fleet operator having existing fleet of minimum 10 vehicles.
  • Transport operators holding national/ state route permit and other necessary permits/license/approval.
  • Satisfactory track record with existing banks/FIs.
  • Income Tax Assessee (personal & Business).
  • Eligibility is linked to the scores obtained under the scoring model. Borrowers should get a minimum of 50% score under the scoring model to be eligible for SBI Fleet Finance Scheme.
  • Minimum CIBIL Score of main Promotors/ Partners/ Directors should be 650.