Srei Equipment Finance Limited has partnered with United Bank of India to offer loans to MSMEs and retail customers under a co-lending arrangement.
The NBFC and the bank jointly organised 'Loan Utsavs' across 20 cities, Srei Equipment said in a release.
The Loan Utsavs were held in Delhi, Mumbai, Hyderabad, Ahmedabad, Pune, Nagpur, Jaipur, Haldia, Durgapur, Ranchi, Keonjhar, Bolangir, Patna, Vijaywada, Rajkot, Chandigarh, Karnal, Udaipur, Lucknow and Bhopal.
Loans were offered to MSME sector and retail customers against purchase of construction equipment at affordable EMI options.
Loans for 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, it said.
Devendra Kumar Vyas, managing director, Srei Equipment Finance, said: "This joint initiative was aimed at fulfilling the government's vision of making credit available to MSME and retail customers at affordable cost."