Yes Bank launches “Smart Edge for MSMEs” programme for MSME loans
- Yes Bank has launched a program named “Smart Edge for MSMEs” under which it will offer secured working capital loan between Rs 1 crore to Rs 3 crore to MSME.
- The loan will be in the form of overdraft, letter of credit, and financial bank guarantees. This is a first-of-its-kind surrogate lending model for MSME.
- For this programme, MSMEs would have to furnish their GST returns and operative bank account statements for the last 12 months along with the KYC document for assessment. Collateral acceptable to the bank will be taken as security for the loan.
Points to remember:
- “Smart Edge for MSMEs” programme has been launched by which bank?
- Maximum loan under “Smart Edge for MSMEs” programme?