State Bank of India (SBI) has announced Aarogyam Healthcare Business Loan under which the entire healthcare ecosystem such as hospitals, nursing homes, diagnostic centres, pathology labs, medical devices, equipment manufacturers, suppliers, importers and logistics firms engaged in critical healthcare supply can avail loans of up to ₹100 crorerepayable in 10 years.
The loan can be availed either as term loan to support expansion/modernisation or as working capital facilities such as cash credit, bank guarantee/letter of credit.
In metro centres, loans can be availed up to ₹100 crore, tier I & urban centres up to ₹20 crore and in tier II to tier VI centres up to ₹10 crore.
“The beneficiary units/borrowing companies availing loan of up to ₹2 crore will not be required to offer any collateral or security to the bank as this will be covered under the guarantee scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE),” SBI said in a statement. “We believe this special loan product will provide the much needed financial support to enable expansion/modernisation of existing facilities and also creation of new facilities,” Dinesh Khara, chairman, SBI said.
With Aarogyam Healthcare Business Loan, our endeavour is towards strengthening the healthcare infrastructure across the entire country,” he added.
Aarogyam Healthcare Business Loan will be eligible under the COVID loan book being created by banks, as announced by the RBI as part of COVID relief measures.
