<p>State Bank of India (SBI) on Thursday launched a first-of-its-kind product ‘SME Assist’ wherein the bank will provide a short-term Working Capital Demand Loan (WCDL) to bank’s MSMEs for nine months.<br /><br />Under SME Assist, the bank would provide loan to Micro, Small and Medium Entrepreneurs on their Input Credit Claims under GST, at a concessional rate of interest.<br /><br />V Ramling, CGM (SME), said SBI has been at the forefront in handholding the SME sector.<br /><br />“This product will help them manage their working capital requirement till the time they get input credit,” Ramling said.<br /><br />He added that it also supports the government’s GST initiative, as it will help stabilise the SMEs to run their operations without any hurdle.</p>
<p>State Bank of India (SBI) on Thursday launched a first-of-its-kind product ‘SME Assist’ wherein the bank will provide a short-term Working Capital Demand Loan (WCDL) to bank’s MSMEs for nine months.<br /><br />Under SME Assist, the bank would provide loan to Micro, Small and Medium Entrepreneurs on their Input Credit Claims under GST, at a concessional rate of interest.<br /><br />V Ramling, CGM (SME), said SBI has been at the forefront in handholding the SME sector.<br /><br />“This product will help them manage their working capital requirement till the time they get input credit,” Ramling said.<br /><br />He added that it also supports the government’s GST initiative, as it will help stabilise the SMEs to run their operations without any hurdle.</p>
