The simple idea of coming together and working for a better tomorrow is going to help us in the long run. When everyone is busy doing their thing then we can reach the finish line on right time with all the required resources.
It was only a month back when SBI started India’s first startup bank in Bengaluru and now it has announced capital loans for SMEs and Sellers on e-commerce sites. While the MUDRA YOJANA continues to empower small scale businesses this new bank will only add up. SBI is India’s largest bank when it is about number of branches. One can locate a branch of this bank in almost every town or well-developed villages hence it will be easier for small-scale entrepreneurs to seek loans and start a home based business.
SME and MSMEs are mainly about people who put hardwork and create products from everything they lay their hands on. These are people coming from villages and towns with new and unique ideas. With the advent of e-commerce, they have found a new market. A lot of them have been successfully selling products on e-commerce sites like flipkart and snapdeal like sellers.
The new capital loans by SBI for SME and Sellers on e-commerce site will help small-scale entrepreneurs in establishing their small scale industry. They will be able to hire skilled labors and expand their business.
The simple idea of empowering people with requisite amount of money is going to change the way people do business here in India. Easy availability of loans will open new doors and allow people to live a debt free life. With loans from reputed banks on less interest rate will help them manage the expansion of business with great ease.
Smart SME e-commerce loan is a product that will allow small-scale entrepreneurs to get their loans sanctioned with a click. Fill in all the requirements, documents and you can access the loan with great ease.
The simplified new platform will help people in getting on the real ground and do business with the like minded people. The simple list of innovation here is going to change the way people measure their lives and business. Proud and self-reliant are going to be the new experiences for these small-scale entrepreneurs.
SBI has been making requisite efforts to match the frequency of Central government. In the long run other banks are going to follow the paradigm developed by SBI and we will turn into a nation where acquiring loans will be easier for small businesses.
SBI is setting standards and examples for other private and public banks. It is time for every other bank to jump in the race and contribute towards the development of Indian startup community.