SBI Launches MSME Sahaj for Quick Digital Business Loans

State Bank of India (SBI) has introduced a new web-based solution called ‘MSME Sahaj – End to End Digital Invoice Financing’ to help MSMEs get business loans quickly. This service allows customers to apply for loans, complete documentation, and receive disbursements within 15 minutes, all without any manual intervention.

The solution is designed to provide short-term credit for working capital needs to Micro SME units that are part of the GST regime. Customers can avail finance against their GST-registered sales invoices of up to Rs 1 lac in less than 15 minutes.

The product is available through SBI’s Yono application and also caters to sole proprietorship non-credit customers with satisfactory current accounts at SBI.

Dinesh Khara, Chairman of SBI, stated, “SBI is committed to setting new industry benchmarks by introducing digital solutions in SME business loans. MSME Sahaj is crafted with the vision of providing MSME units faster and easier finance using digital mode with a self-initiated end-to-end journey.”

Vinay Tonse, MD – Retail Banking and Operations at SBI, added, “MSME Sahaj – Digital Business Loans for Invoice Financing will offer a unique proposition to our existing Micro SME units who are part of the GST regime to get immediate ‘on tap’ short-term credit for working capital requirements through digital mode on SBI’s Yono application.”