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Srei Equipment Finance Ltd, a wholly-owned subsidiary of Srei Infrastructure Finance, has partnered with the United Bank of India (UBI) to offer loans to the MSME sector and retail customers under a co-lending arrangement.
The NBFC and the bank jointly organised Loan Utsavs across 20 cities. These loan melas were held many cities including Delhi, Mumbai, Hyderabad, Ahmedabad, Jaipur, Ranchi, Patna, Vijaywada, Chandigarh, Lucknow and Bhopal.
Loans were offered to the MSME sector and other retail customers against purchase of construction equipment. The also offered different EMI options for these loans.
According to a release, loan to value of up to 90 per cent of the equipment were offered for tenure of up to 5 years, while a moratorium of 30-60 days was also awarded depending on the loan structure and size.
Srei Equipment’s OEM partners include international brands such as Komatsu, JCB, Volvo Equipment, SANY, Kobelco, Tata Hitachi, Hyundai, Liugong, and L&T Construction and Mining Machinery, among others.
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