Arogyam Healthcare Business Loan: SBI launches new product to support the healthcare ecosystem of the country
State Bank of India (SBI) has launched Arogyam Healthcare Business Loan to provide better support to the healthcare sector in the country amid the pandemic.
Under Aarogya Healthcare Business Loan, the country’s largest lender will cover the entire healthcare ecosystem like hospitals, nursing homes, diagnostic centres, pathology labs, manufacturers, suppliers, importers, logistics firms engaged in critical health supplies.
They can avail loans up to Rs 100 crore depending on their geographical location. The loan has to be repaid in 10 years.
Aarogya loan can be availed either as a term loan to support expansion/modernization or in the form of working capital facilities like cash credit, bank guarantee/ letter of credit.
Loans up to Rs 100 crore can be availed under Aarogya in metro centres, up to Rs 20 crore in tier I and urban centers and up to Rs 10 crore in tier II to VI centres.
Beneficiary units/borrowing companies availing loans up to Rs 2 crore will not be required to offer any collateral or security to the Bank as it is under the Guarantee Scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). will cover.
“Our healthcare system has been providing uninterrupted and unprecedented assistance to the country amid the pandemic for the past one year. Recognizing and recognizing their contribution in the wake of COVID-19, we are delighted to launch Aarogyayam Healthcare Business Loan for them. We are confident that this special loan product will provide the necessary financial support to enable expansion/modernization of existing facilities and creation of new facilities. With Aarogya Healthcare Business Loan, our endeavor is towards strengthening the healthcare infrastructure across the country,” said Dinesh Khara, SBI Chairman.
Aarogya Healthcare Business Loan will be eligible under the COVID loan book being created by banks as announced by RBI as part of COVID relief measures.
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