Indian agri logistics group SohanLal Commodity Management (SLCM) Pvt Ltd signs an agreement with local lender Global Treasure Bank for collateral financing: the interest rate for loan disbursement will be 13%

Indian agri logistics group SohanLal Commodity Management (SLCM) Pvt Ltd has signed an agreement with local lender Global Treasure Bank for collateral financing.

SLCM will store agri-commodities, fishery products and imported goods at its warehouses with signing of this deal, which aligns with the company’s strategy to facilitate trade by giving collateral financing to small and medium sized traders, processors, farmers, importers and exporters.

Global Treasure Bank will offer financial solutions to both individual and corporate customers, while commodities pledged will be stored at SLCM managed warehouses. SLCM Ltd would undertake sampling, testing, grading, assaying, fumigation, aeration and quality certification of the commodities.

The rate of interest for loan disbursement will be 13 percent, according to the deal.

The company had previously tied up with four local banks – Yoma Bank, CB, United Amara Bank and Myanma Apex Bank.

Sandeep Sabharwal, group CEO SLCM, said, “The collaboration intends to offer better lending opportunities to agri and commodity …. With the motive to provide innovative and affordable range of services, we welcome Global Treasure Bank on-board.”

Through the initial tie-ups with banks, SLCM Ltd has disbursed loans worth $6.26 million, has managed 160,600 sqft of area and handled 67 commodities with a network of nine warehouses in the industrial zones since commencement.

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