SMEStreet Desk

Large Number of MSMEs Approaching Banks for Collateral-Free Loans: Survey

According to the survey, nearly 70 per cent of the respondents have approached banks for collateral free and Government guaranteed loans, and the majority of them intend to borrow less than Rs  1 crore.It further revealed that banks have so far sanctioned loans to around one-third of the applicants and the cost of borrowings is 8-9 per cent for most of the borrowers.