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Dailymirror.news, Mumbai, October 22, 2024: In a significant move to bolster the growth of Micro, Small, and Medium Enterprises (MSMEs), CSB Bank has introduced the SME Turbo Loan, a streamlined lending solution designed to provide quick and hassle-free access to credit across various sectors.
Key features of the SME Turbo Loan include:
- Loans of up to ₹5 crores
- Overdraft (OD), Term Loan (TL), and Trade facilities available
- Instant in-principle sanction
- Approvals based on a simplified scorecard
Mr. Shyam Mani, Group Head – SME Business at CSB Bank, highlighted the advantages of the new loan offering, stating, “This multi-featured product is designed to deliver faster, easier, and more transparent credit solutions, empowering MSMEs to realize their full potential. The Turbo Loan simplifies access to credit by providing instant in-principle sanctions based on a unique credit assessment scorecard, developed in collaboration with industry experts.”
The introduction of the SME Turbo Loan aligns with CSB Bank’s broader mission to support the growth of MSMEs in today’s dynamic business landscape, while also contributing to the bank’s Sustain, Build, Scale 2030 initiative. By eliminating traditional bottlenecks in the lending process, CSB Bank aims to facilitate rapid growth for small businesses, ultimately fostering overall economic development.
