Simple Application Process

Apply for A Loan
Check Eligibility
Get Sanctioned
Receive Funds

Documents required

Documents :

Pan card
Aadhar Card
Bank Statement
GST Registration

Terms we offer :

Loan Amount

: ₹50 Thousands - ₹ 2 Crore

Loan Tenure

: 1 month - 3 years

Interest Rates**

: 1 - 2% per month

Pre-Closure Fee

: 0 ₹

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MSME/SME LOAN

      The government of India understands the value of the contribution of the MSME sector. There is a dedicated ministry working on this segment. As per the Ministry of MSME –Micro Enterprises are the ones where the investment in plant and machinery is not more than Rs. 25 lacs. Small Enterprises are the ones where the investment in plant and machinery is more than Rs. 25 lacs and less than Rs. 5 crores. Medium enterprises are the ones where the investment in plant and machinery is more than Rs. 5 crores but not exceeding Rs. 10 crores

MSME Benefits For Women Enterpreneur :
  • Women entrepreneurs can apply for a loan ranging between ₹50,000 to ₹10 lakh under Mudra Yojana Scheme.
  • Women entrepreneurs are eligible for 25 % concessional rates in the loan.
  • The term of loan provided to the women entrepreneurs is from one to three years.
MSME Elegibility Criteria :

MSME registration is open to any proprietorship, partnership business, corporation, trust, or society with an investment of less than Rs.50 crore and an annual revenue of less than Rs.250 crore.

FAQ

MSME stands for Micro, Small and Medium Enterprise (MSME) loan is a kind of business loan that financial institutions provide to individuals, SMEs, MSMEs, and Startups.

There is a standard definition given by the government of India.
  • A stabilized business that has been in operation for more than 6 months.
  • A minimum turnover of 90,000 or more in the 3 months heralding your loan application.
  • The business should not fall under the blacklisted/ejected list for SBA finance.
  • The physical location of your business should not be on the negative location list.
  • Trusts, NGOs, and charitable organizations are not acceptable for small business loans.

Identifying that business loans can be used for setting up a new enterprise or climbing up (expansion, diversification, modernization, technology up-gradation). These can be for the following:
  • Acquisition of Plant and Machinery including lab equipment, testing equipment, furniture, electric fittings, etc
  • Meeting working capital requirements would be as raw materials, stock-in-progress, finished goods, etc
  • Trade Finance (Bill discounting) for paying the creditors while anticipating payment from debtors
  • Launch of new product variety, expansion of business, warehousing need, credit for marketing and advertising purpose
  • Additional monetary compensation for any eligible purpose

The MSME loan rate of interest is always cheaper compared to other loans. However, still, the rate of interest varies and depends upon the end use of the funds and the life of the business

ThNon-banking financial corporations, NBFCs provide collateral-free MSME loans to small businesses and offer services like a bank. Some advantages of choosing NBFCs over banks are flexible eligibility criteria for approving loan applications, a relaxed approach to ensure easy financing for small businesses.

The minimum loan size for others is Rs. 25 lakh. The repayment period is up to 10 years, including moratorium of up to 36 months.

Individuals are not eligible to apply for MSME registration.

According to MSMED Act 2006, a buyer is liable to pay a compounded fine, if he/she fails to make a payment to the supplies within 45 days from the day of acceptance of the goods/service

No, the Udyam MSME Registration portal states that it is not mandatory to have a GST number for registering your MSME.

Ideally, you should apply for a business loan when your CIBIL score is at least 750 or above as applying with a low CIBIL score may result in rejection of your loan application

If you're running a micro, small, or medium-sized enterprise (MSME), obtaining a Shops and Establishments License is crucial. This license is mandatory for businesses operating in India and covers various aspects such as working hours, employee rights, and safety regulations.
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