SME loans are specifically designed to support small and medium-sized enterprises (SMEs) in managing their financial needs and driving growth. These loans provide businesses with the capital required for various purposes, such as expanding operations, purchasing equipment, or managing cash flow. Unlike traditional bank loans, SME loans often come with terms and conditions tailored to the unique needs of smaller businesses.

The application process for an SME loan typically involves presenting a business plan, financial statements, and details about the loan purpose. Lenders assess these factors to determine the loan amount, interest rate, and repayment terms. Depending on the lender, SME loans may be secured or unsecured, with varying requirements for collateral and credit history.