Polaris Bank has introduced a cashflow lending product for small and medium scale enterprises (SMEs) tagged: ‘Polaris Business Loan.’
The facility offers both existing and new SME customers of the bank the opportunity to access quick loans for stock replacement, equipment finance, working capital and business expansion to sustain and scale up in the business.
The bank explained in a statement that the initiative forms part of its continuous efforts to support the growth of small and medium scale businesses.
“The loans can be used for a wide range of purposes such as stock replacement and purchase of raw materials, renovation and expansion, asset acquisition etc.