SBI Business Loan

SBI provides a range of business loan products aiming to fulfill diverse financial needs. These include financing solutions for export activities, specialized credit for distribution channels, long-term funding for expansion, financial instruments for trade transactions, and tailored financing for lease income.

SBI offers dedicated construction equipment loans, solutions for diverse corporate financial needs, asset-backed loans, flexible credit lines for working capital, and financing utilizing warehouse receipts. The loan amounts for SBI Business loan can extend up to Rs 500 crore, with flexible tenures reaching up to 15 years, providing substantial support for business growth and expansion.

Planning to choose SBI Business Loans for your financial needs? Then read further to know more!

SBI Business Loan Highlights

Refer to the table below to know major highlights of SBI Business loan:

SBI Business Loan Interest Rates

The State Bank of India (SBI) aligns its business loan interest rates with the prevailing External Benchmark Lending Rate (EBLR) and Marginal Cost of Funds Based Lending Rate (MCLR). However, the general interest rate for the SBI Business Loan starts from 9.10% p.a. The business loan interest rates offered by the lender for its business schemes are:

SBI Business Loan Fees & Charges

These fees and charges are mandatory for effective financial planning and ensuring a clear picture of the overall cost of SBI business loan:

Types of SBI Business Loans

SBI offers various loan products that are tailored to meet the diverse financial requirements of businesses. These corporate loans help to support enterprises in their expansion, operational enhancement and other business initiatives. Here are the different corporate loans offered by SBI:

SBI Simplified Small Business Loan

The SBI Simplified Small Business Loan is a special loan designed for small and medium-sized businesses (SMBs). The loan provides necessary funds to all businesses manufactured and services activities and to individuals and self employed professionals in the retail / wholesale trade. Here are the loan details:

SBI Asset Backed Business Loan

SBI Asset Backed Business Loan is a suitable financing option for businesses looking to leverage their existing assets for expansion, working capital needs, modernization or equipment acquisition. Under this loan, all MSMEs as per the MSMED Act 2006, self-employed, professional individuals and wholesale / retailers are eligible for the loan. The terms offered by SBI are:

SBI Asset Backed Business Loan Commercial Real Estate

The SBI asset backed business loan for commercial real estate is a loan for creation or acquisition of real estate such as office buildings, retail space, industrial or warehouse space, hotels, multiplex, restaurants, amusement parks, gymnasiums, cold storage, etc. The loan is specifically designed for Proprietorships, Partnerships, Companies and LLPs. Here are the loan terms offered by SBI:

SBI Surya Shakti Business Loan for Solar Finance

This loan provides financial aid to SME and business enterprises for installation of solar rooftops or ground mounted grid connected systems of up to 1 MW capacity for captive use. The loan terms include:

SBI Construction Equipment Loan

The SBI construction equipment loan is a loan designed for the purchase or lease of new or used equipment for construction. The terms for this loan are:

SBI Corporate Loan

A corporate loan is a loan designed to provide financial aid to corporates for working capital requirements or for the purchase or upgradation of necessary equipment like machinery, for renovation, repaying high cost debt and more. The repayment term is up to 10 years or for the life of the asset under cover, whichever comes first.

SBI Business Loan under Contactless Lending Platform

This loan is an online lending facility offered through the PSB loan in 59 minutes platform. The loan is provided to proprietorships, partnerships, public and private limited companies in the small and medium industrial and trading sector. This platform helps businesses get financial aid for their working capital requirements or acquisition of assets. The terms for these loans are:

SBI Stand Up India Business Loan

The Stand Up India loan offered by SBI is a loan specialised for providing financial aid to women entrepreneurs especially those belonging to SC/ST category. The loan offers term loans and working capital facility to businesses who are starting up greenfield projects in the services, trading and manufacturing sectors.

SBI PM Mudra Yojana Loan

The PM Mudra Yojana loan is a government-backed scheme implemented by the State Bank of India to provide affordable loans to businesses in the manufacturing, trading or service sector and allied agricultural activities. Here are the terms offered by the loan:

SBI Business Loan for Finance for Startups (MSME UDAAN)

The SBI business loan for finance for startups is a financial tool that is aimed to help MSME start-ups that are registered or recognised by the Department of Promotion of Industry and Internal Trade (DPIIT). The loan can be used for various purposes required for business development. The loan terms include:

SBI Business Loan for Warehouse Receipt Finance

SBI warehouse receipt finance scheme is a secured business loan that allows businesses to borrow funds by using warehouse receipts as collateral. The loan terms offered are:

SBI SME Gold Loan

This is a loan facility that allows businesses to procure a loan against their gold jewellery or gold ornaments. The terms offered by SBI are:

SBI SME Car Loan

The SBI SME car loan is a specific loan product offered by the State Bank of India to meet the financial needs of small and medium enterprises for purchasing cars. It differs from normal car loans due to the tailored features. The terms of the loan include:

SBI Business Loan for Commercial Vehicles

The SBI commercial vehicle loan is a loan product offered by SBI to help individuals or businesses purchase new or used commercial vehicles. The vehicles they can purchase include electric vehicles, hybrid commercial vehicles, CNG vehicles, ambulances and caravan vehicles. The loan terms offered are:

SBI Healthcare Business Loan

The SBI healthcare business loan is a loan provided to businesses in the healthcare sector which can be used for purchasing medical equipment, expanding or renovating a healthcare facility and funding capital needs. Businesses can get the following benefits:

SBI Business Loan for Fleet Finance

This is a type of business loan that finances businesses for the purchase of new or used commercial vehicles. This is highly beneficial for businesses in the transportation, logistics, tourism, and other sectors that rely on a fleet of vehicles for their operations. The loan terms for this type include:

SBI Lease Rental Discounting

This financial scheme is offered to borrowers to meet their liquidity mismatch. A certificate regarding the end use stating that the proceeds from the loan are used for its intended purpose not for speculative or real estate purpose should be obtained. The loan terms provided by SBI are:

SBI SME Smart Score Business loan

SBI SME Smart Score Business loan

SBI SME Credit Card

This enables businesses particularly MSMEs meet their financial requirements including the purchase of shops. Here are the loan terms offered by SBI:

SBI Business Loan for Finance to Food Processing Industry

This loan is specially designed to provide financial assistance to food processing businesses including vegetable and fruit processing, food grain, egg and poultry, meat, fish processing and more. This loan helps businesses in the industry grow, expand and innovate. The terms for this loan are:

SBI Business Loan to Business Correspondents

This loan is offered by SBI as a term loan, demand loan or overdraft facility for various business requirements of the borrower. The loan terms include:

SBI SME Marble Plus Loan

This scheme offers financial assistance to businesses in the manufacturing, processing, carving, polishing, mining of marble, felspar, quartz and other stone units. This loan can be used for working capital or capital expansion. The loan terms are:

SBI Arthiyas Plus

The SBI Arthiyas Plus is a business loan program designed to assist Arthiyas or Commission agents engaged in retail trading activities in meeting their working capital requirements. The loan terms for this loan are:

SBI SME Open Term Loan

SBI SME open term loan is designed to support business units in the manufacturing and services sectors. Businesses also include healthcare, hospitality, and transportation. Borrowers can utilise this facility multiple times within the sanctioned period as long as the total utilisation is within the overall sanctioned limit. SBI offers the following loan terms:

SBI Business Loan for SME Finance of CA Firm

The SBI business loan for SME finance of CA firms offers term loans and overdraft facilities specially designed for Chartered Accountancy firms that are operating as proprietorships or partnerships. The loan allows CA firms to effectively manage expenses. The loan terms offered by SBI are:

SBI Business Loan for Export Packing Credit

This loan offers financial support to businesses in the export industry. It offers loans for the purchase of raw materials, packing, processing, transportation and warehousing goods which are extended to businesses in the form of working capital. The terms for this loan include:

SBI Business Loan for Trade and Services Sector

This loan allows borrowers from companies having more than 10 vehicles. The loan enables businesses to purchase trucks, trailers, tankers, luxury buses, cars, etc. They can also avail working capital, cash credit accounts and term loans. Here are the loan terms offered by SBI:

SBI Business Loan for E-Dealer Finance

SBI offers business loans for E-Dealer finance, which is a cash credit facility offered to dealers, distributors and franchisees of major industries, stockists, etc. The loan terms offered are as follows”

SBI Business Loan for E-Vendor Finance Scheme

This scheme offers instant credit to vendors against the receivables of recommended vendors of reputed corporates or Industry Majors (IMs). The terms offered by SBI are:

SBI Dall Mill Plus Business Loan

This loan offers working capital or loan for acquisition of machinery, factory building for modernization or expansion, etc. The terms offered by SBI for this loan are:

SBI Business Loan Eligiblity Criteria

To be eligible for an SBI business loan, you must ‌meet the following criteria:

• Business Type: Self-employed individuals, proprietorships, partnerships, companies, or trusts with borrowing powers.
• Age: Minimum 21 years old.
• Business Existence: Minimum 3 years of operations for existing businesses (except for startup loans).
• Financial Stability: Good credit history, profitable operations, and stable income.
• No Defaults: No history of defaults on loan repayments from banks or NBFCs.

Documents Required for SBI Business Loans

Here's a list of generic documents typically required for SBI business loans:

1. Identity and Address Proof: Aadhaar Card,PAN Card,Voter's ID,Passport (if applicable)

2. Business Proof:

• Certificate of Incorporation or Registration (for companies and partnerships)
• GST Registration Certificate
• Business Licenses and Permits
• Shop & Establishment Certificate
• Trade License

3. Financial Documents:

• Income Tax Returns (ITR) for the last 3 years
• Bank Statements for the last 12 months
• Audited Financial Statements (for companies)
• Projected Financial Statements (for startups)
• Business Turnover Certificate

SBI Business Loan Interest Rates Vs Other Lenders

When considering a business loan, the interest rates play a significant role in the overall cost of borrowing. Here's a comparative overview of interest rates offered by SBI and other prominent banks and lenders:

Benefits of SBI Financing

SBI Business Loans empower businesses with a diverse range of financial solutions, competitive terms, and accessible lending options, making it a preferred choice for entrepreneurs.Experience the advantages of choosing a business loan from the State Bank of India with the following features:

1. Diverse Credit Products:

• Access a comprehensive suite of over 30 credit products tailored to businesses of all sizes and types.

2. Competitive Interest Rates:

• Benefit from highly competitive interest rates, with a starting rate as low as 9.10% p.a., setting SBI apart from other lenders.

3. Hassle-Free Application Process:

• Seamlessly apply for business loans through SBI's user-friendly online portal, ensuring a streamlined and convenient application experience.

4. Flexible Tenure:

• Enjoy the flexibility of choosing a repayment tenure ranging from 12 months to 20 years, providing convenience for your business's financial planning.

5. Special Loans for Women Entrepreneurs:

• Avail special lending schemes like Stand-Up India, designed to empower women entrepreneurs with lower interest rates and robust financial support.

6. Transparent Terms:

• Experience transparency with no hidden charges, ensuring a clear understanding of the financial commitment.

How to Apply for SBI Business Loan

Here are the quick steps to apply for an SBI business loan:

• Step 1: Visit your nearest SBI branch or the e-portal and fill out the online application with your personal/business details. Keep all documents ready.
• Step 2: Provide essential documents - KYC proofs, business registration papers, ITRs for the last 3 years, audited financial statements for the last 3 years, bank statements, details on existing loans, and collateral you can offer.
• Step 3: An SBI representative will contact you to collect and verify documents if your application meets initial criteria. They will assess your creditworthiness, cash flows, and collateral.
• Step 4: The SBI business loan processing team appraises your application and makes the final credit decision based on your eligibility.
• Step 5: If approved, the business loan amount gets disbursed to your account within 2 weeks. Utilize the financing per approved purposes.

SBI Loan Repayment Plans

Here are the different SBI Loan Repayment plans and calculator:

1. SBI Bank Home Loan Repayment:

SBI Bank's Home Loan repayment options offer considerable flexibility to borrowers. With the ability to secure loans of up to 80% of the property value, customers can enjoy extended tenures of up to 30 years.

2. SBI Bank Personal Loan Repayment:

SBI Bank's Personal Loan repayment structures aims for diverse customer segments with varying needs and income levels. Borrowers can choose repayment tenures spanning from 12 months to 5 years, aligning with their financial preferences.

3. SBI Bank Auto Loan Repayment:

SBI's Auto Loans provide a robust financing solution for purchasing new or used vehicles, offering up to 85% of the on-road price as the loan amount. Borrowers can enjoy flexible repayment tenures extending up to 84 months. SBI's Auto Loan repayment plans accommodate diverse borrower needs with clarity and flexibility.

4. SBI Bank Education Loan Repayment:

SBI Bank's Education Loans aim to support higher education needs with competitive interest rates and favorable repayment terms. Borrowers can enjoy extended repayment periods of up to 15 years after completing the course, coupled with a 12-month repayment holiday.

5. SBI Bank Gold Loan Repayment:

SBI Bank's Gold Loans provide a convenient financing option with repayment tenures of up to 36 months, accommodating various financial needs. With the option to avail up to 75% of the gold value, borrowers can access funds up to Rs. 50 lakhs. SBI offers three distinct repayment modes, including Gold Loan, Liquid Gold Loan, and Bullet Repayment for different borrower preferences.

SBI Business Loan Customer Care Number

For queries, support, or complaints related to SBI business loans, customers can reach out to SBI's customer care through the following channels:

Toll-Free Numbers: 1800-1234 / 1800-11-2211 / 1800-425-3800
Reporting Unauthorised Electronic Transactions: 1800-11-1109 / 94491-12211 / 080-2659-9990

For service requests, queries, feedback, or complaints related to business loans, use the provided toll-free numbers or SMS 'UNHAPPY' to 8008 20 20 20 also can mail at customercare@sbi.co.in / contactcentre@sbi.co.in for issue resolution.

SBI, offers 24X7 customer support services. Customers can contact the customer care team via email, net banking, mobile app, toll-free numbers, SMS, or by visiting a nearby branch

Steps to Apply for Business Loan on Buddy Loan

Following these quick and easy steps you can apply a business loan on Buddy loan with any hassle:

• Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
• Step 2: Open the business loan application page. Enter your mobile number and OTP.
• Step 3: Specify the desired loan amount and email. Next, choose the Business Loan option.
• Step 4: Choose if you have a Business Proof (Yes/ No)
• If ‘Yes’ (If you have a business proof), enter your business and personal details.
  Or
• If ‘No’ (If you do not have a business proof), choose the profession type and enter your personal details.
• Step 5: Provide income details and Click the ‘Submit’ button.