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SBI launches “MSME Sahaj” – loan within 15 minutes

State Bank of India (SBI) has introduced “MSME Sahaj,” a web-based digital solution for MSMEs’ invoice financing. This innovative product is designed to offer a seamless, data-driven credit assessment for MSMEs, facilitating the entire loan process—from application to documentation and disbursement—within just 15 minutes.

SBI’s MSME Sahaj allows customers to secure financing against their GST-registered sales invoices of up to Rs 1 lakh in under 15 minutes. The system also automates loan closure on the due date, streamlining the entire process.

The product utilizes a machine learning model, leveraging data from GSTIN, customer bank statements, and CIC databases to ensure an efficient and reliable credit assessment. The primary goal of MSME Sahaj is to provide “on tap” short-term credit for working capital needs of MSME units within the GST framework, addressing the immediate financial requirements of these enterprises with speed and accuracy.

PR Newswire

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