Here's SIDBI's new app for invoice financing loans; check details

Oct 13, 2023 Girish Khurana

With an aim to enhance the economic and financial sustainability of MSMEs, the Small Industries Development Bank of India (SIDBI) is in the process of launching an app-based ‘invoice financing’ loans platform ‘GST Sahay’

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The new invoice platform GST Sahay will reduce the problem of delayed payments and consequential cash flow mismatches for the MSMEs

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The GST Sahay will be an invoice-financing marketplace where MSMEs can use their unpaid invoices to get quick working capital loans

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The platform would provide non-collateral loan on invoice-based disbursements

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The loan disbursement would take less than 24 hours

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The limit of the invoice value is upto Rs 1 Crore

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GST Sahay shall provide flexible repayment with no pre-closure charges

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There won’t be any physical paperwork involved

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