SME Loans Made Easy – Nabil Bank
Nabil Bank in partnership with UKaid Sakchyam – Access to Finance Program has recently introduced the “Nabil Sajilo Express Karja” (NSEK), a Small and Medium Enterprise (SME) lending product that uses a credit scoring model to determine the creditworthiness of an individual and allows customers to get loan approval within 35 hours. With this, eligible SMEs can receive loans from NPR 15 lakhs to NPR 75 lakhs at an interest rate based on their respective credit scores. This service is an upgrade to the bank’s previous loan facility for SME businesses called “Nabil Sajilo Karja” which allows eligible businesses to draw a loan up to NPR 1.5 crore.
Why NSEK?
With the launch of NSEK, Nabil Bank has taken a step towards improving access to finance for SMEs in Nepal. Eligible SMEs can capitalize on this opportunity and reap benefits from the lending product that includes the following benefits:
- Use of credit scoring model which utilizes a combination of statistical analysis and expert judgement performed by lenders to speedily calculate the probable risk in the business that helps in decision making and pricing loans
- Interest Rate up to 10.50% per annum (fixed for 1 year and based on credit score)
- Loan Size from NPR 15 Lakhs to NPR 75 Lakhs
- Loan approval within 35 working hours with additional 25 hours for security documents execution
- Free issuance of credit card to the key person (limit of NPR 50,000)
- Free Monthly Bank Statement delivery through email
- Free transaction alerts through SMS
- NPR 3 lakh worth of 13 critical illness insurance coverage through Nabil Care*
- NPR 10 lakh of accidental insurance coverage and NPR 75,000 on death by any cause from personal account*
- Conditions applied*
How to apply for the NSEK?
In order to apply for a loan with NSEK, you can visit Nabil Bank’s website and download the application form.
Based on the information in Nabil Bank’s website, interested individuals need the following documents along with the application form:
| Individual Documents | Official Documents | Financial Documents |
|---|---|---|
| 1. Citizenship Certificate 2. Net Worth Statement | 1. MOA, AOA 2. Registration Certificate 3. Valuation Report (if available) 4. Tax Clearance Certificate (in case of existing business) 5. PAN/ VAT certificate 6. Resolution of partners/ BOD for availing: (Banking facilities, authorize loan operation and mortgage, provide undertaking and corporate guarantee) 7. Bank Statement of present bank account 8. Document related to credit facilities availing at present (if availing loan from another bank and if available) | In case of existing business: Financial Statements (Two year audited and/ or three years projection) Tax Clearance Certificate (Compulsory) Business Plan (if prepared) In Case of Startups: Projected Financials for 3 years Business Plan (Compulsory) |
This blog is based entirely on the information provided by Nabil Bank Ltd. on its official website. For more information, please visit Nabil Bank’s website or contact your nearest branch.
If required, Biruwa Advisors can support you in preparing business plan for your startup or existing business.