EuroKids and SBI will jointly provide easy loan to Entrepreneurs
EuroKids is one of the most famous preschool franchises of India and State Bank of India is India’s largest commercial Bank. Recently EuroKids has bonded up with the State Bank of India (SBI) and they will be providing easy loans to entrepreneurs.
Collateral Free Loan
Under the partnership, SBI & EuroKids will provide collateral free loans will be to the current and most prospective pre-school partners of India. Also, a concession will be made on the interest rate for women pre-school franchise partners. Also, a lease of up to five years and a moratorium period of three months for paying the whole amount of money along with the interest will be provided to the entrepreneurs along with the collateral loan facilities.
Details of Loan Facility
|Loan Facility Type
|Collateral Free Loan
|EuroKids & SBI
|Up to 5 years
|Concession on Interest Rate for Women
|To help the entrepreneurs in setting up their business
Aim of EuroKids
The primary aim of EuroKids is to encourage more entrepreneurs for setting up their business. EuroKids aims to provide collateral free loans which will help the entrepreneurs of small towns specially. This loan facility will encourage them to scale their business. Also, EuroKids aims to provide a concession on the interest rate for the women franchise partners. This will encourage more women to achieve their dreams by setting up their business by availing the loan facilities. Also, the lower interest rate will provide enthusiasm and will encourage the women to follow their entrepreneurial interests. Mainly, EuroKids aims to help the women and the financially weaker entrepreneurs. This collateral free loan facility will obviously encourage more and more entrepreneurs.
EuroKids has already enabled more than 900 entrepreneurs until now and most of the entrepreneurs are woman. They have an advanced process of offering a unique training process to the entrepreneurs.
EuroKids teaches the entrepreneurs about setting up their pre-school infrastructure, ambience equipment, teaching aid-support, etc. All these procedures are only to make sure that the entrepreneurs are able to set up their business perfectly and are able to utilize their business plans.
Aim of SBI
SBI has always been helpful to the franchises and has always been very supportive by providing them a comprehensive suite of products. SBI has always been able to meet the needs of the franchises. Till now, SBI has provided Long Term Loans, Working Capital and Transaction Solutions to the Franchises which has helped the franchises a lot.
The main aim of SBI is to help the franchises so that they are able to raise the level of their business and they are able to build up a platform to support their business and help India. SBI has launched a lot of innovative schemes to help the franchises. SBI provides the schemes through product customization and franchisor-affiliation. SBI also has made sure the lending procedures under their schemes are very simple. Through their innovative and helpful steps to help franchises, SBI has also made sure that they are the perfect bank in terms of franchise finance.
Benefits for Entrepreneurs
The beneficiaries of the collateral free loan facility are the entrepreneurs. They will be able to set up and scale their business with the loan and they will be able to repay their loan easily as the tenure is up to five years. This loan facility will encourage more and more entrepreneurs who are not able to start their business due to financial problems.
The entrepreneurs belonging from financially weaker families will be benefitted a lot from this loan facility. They will be able to utilize their ideas and start their business with this loan. The talented entrepreneurs of India will come into light which will eventually help India.
There is a concession on the interest rate for Women Franchises and this will help more women entrepreneurs to utilize their business ideas and set up their business. Also, the lower interest rate will encourage more women.
Also, the training system provided by EuroKids will help all the Entrepreneurs.