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Our Bureau

Mumbai , Oct. 4

Global Trade Finance Ltd has launched an `e-loans sanctioning' facility for exporters in the small-scale industries (SSI) sector. GTF Ltd is a non-banking finance company offering trade finance solutions to the SME sector and is a joint venture promoted by Exim Bank, WestLB, Germany and IFC, Washington.

The facility will allow a SSI unit to get funds by applying on the company's Web site. "A registered SSI unit having export relationship with an overseas buyer for at least one year can now seek approval limits from GTF against its sales," said a company statement.

Each SSI could be sanctioned an export loan of up to Rs 2.5 crore under the new facility at 9 per cent per annum plus the cost of credit protection provided by the ECGC at 0.5 per cent.

"The new service will alleviate the financing problems of the SSIs and minimise our credit risk evaluation parameters," Mr S.R. Rao, Chairman, GTF Ltd, said.

More Stories on : NBFCs | SSI | Credit Market

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