Siddhartha Bank launches Saral SME Karja; makes a bold move to promote entrepreneurship among young Nepalese business minds
Siddhartha Bank has launched “Siddhartha Saral SME Karja” a complete packaged product designed exclusively to extend various credit facilities to micro and small enterprise to facilitate their business activities. The service provides loan limit up to Rs. 75 lakhs with an attractive interest rate. This initiative shall help such entrepreneurs who still rely on external borrowing from personal lenders and cooperative on higher interest rate even though many are well-managed, profitable businesses.
Siddhartha Bank vision to position the Bank as key player in SME Banking as it understands SMEs are the backbone of country’s economy. The Bank aims special privilege for tourism, agriculture, women led businesses. Its motive is to create employment opportunities as well as encourage entrepreneurship by helping in access to finance for people who are engaged in micro and small businesses. Its attractive features are mentioned as below:
- No Prepayment fee
- Financing up to 80% of net working capital and net fixed assets
- Term Loan facilities up to 10 years including moratorium period
- Free service in Credit Card, SMS Transaction Alert, Internet Banking and Monthly A/C Statement
- 50% discount on annual locker charge
The bank is providing its services through a wide domestic network of 175 branches (including 4 extension counters), 101 Branchless Banking and 194 ATMs across the country.
