For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Yes Bank Provides Easy Access To Credit To MSMEs Through Its Smart Edge

|

To ease working capital related woes of the MSME sector, private sector lender Yes Bank has stepped in to offer working capital loan between Rs. 1 crore to Rs. 3 crore. The loan is extended as letter of credit, overdraft or financial bank guarantee under a one-of-its-kind scheme called Smart Edge for MSMEs.

 

Yes Bank Provides Easy Access To Credit To MSMEs Through Its Smart Edge

In the surrogate financing model, enterprises will not be required to submit financial accounts even when the appraisal of the entity shall be done through data points including operative bank accounts and GST returns.

Also, on the hindsight shall be at play a scorecard which shall analyse credit indicators both from bank accounts as well as GST returns. And this shall help in the determination of collateral cover which will start from 85%.

MSMEs can apply for the loan through any of the bank's branch and it will enable simpler and rapid processing of loan.MSMEs would have to furnish their GST returns and operative bank account statements for the last 12 months for assessment along with KYC document for the programme. Collateral acceptable to the bank will be taken as security for the loan, the bank said.

GoodReturns.in

Read more about: yes bank credit loan msme
Story first published: Wednesday, July 24, 2019, 15:28 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X