Karnataka Bank launches online application for MSME loan

Mangaluru, July 27 (KNN) As a part of its technology initiatives for meeting the requirements of its micro, small and medium enterprise (MSME) clientele, Karnataka Bank Limited has launched an online loan application submission and credit proposal tracking system on its website here on Saturday.

The system powered by Lending Automation Processing System (LAPS) will enable customers to submit online application for MSME Credit to be availed at any of the bank’s branches of their choice.

Customers will also be able to track the status of their applications, and status of application will be intimated through e-mail.

Under its MSME initiatives, the Bank has hosted a number of loan products tailor made to suit the requirements of micro, small and medium entrepreneurs. It has 160 specialised MSME branches spread over 100 clusters of 16 states across the country for lending to this sector. (KNN Bureau)