How to apply for an MSME Loan
MSME Loan

WONDERING HOW TO APPLY FOR an MSME LOAN?

LEAVE YOUR WORRIES BEHIND AND FOLLOW US FOR A SPARKLING FUTURE.

Get the definition of MSME loans from experts like us, today!!!

HASTEN AND NEVER TARRY:

Both the Indian government and the Reserve Bank of India (RBI) define MSME loans, as the loans for business enterprises need support in terms of finance, infrastructure and other areas.

1. Micro, Small and Medium Enterprises (MSME) loans are generally offered to startups and small business entrepreneurs.

2. The repayment tenure varies from lender to lender for the MSME loans, based on the loan amount,

3. The applicant’s profile and business history the interest rates are offered. Banks and NBFCs offer MSME loans to the applicant only if certain eligibility criteria meet.

Documents required for an MSME loan-

1. Duly filled Application form. (contact us for the form). We are here to help you to fill the form.

2- Identity Proof: Passport, driving license, PAN card, Voter’s identity card. Residence Proof: Passport, lease agreement, trade license, telephone and electricity bills, ration card and sales tax certificate.

Age Proof: Passport, Voter’s identity card, Photo PAN card.

Financial documents that are required to filing...

Bank statement of last 12 months- Business registration proof- Proprietor(s) PAN Card Copy- Partnership deed copy- Company PAN card copy- P&L and balance sheet copy of last 2 years- Sales tax documents Municipal tax document.

APPRAISE YOURSELF NOW!!!

Union Cabinet clears new definition of MSMEs, limit raised to Rs 250 crore. The Union Cabinet at its meeting has approved changes to the definition of micro, small and medium Enterprises (MSMEs). Raising the turnover limit for medium enterprises to Rs 250 crore, the government aims to broaden the scope of MSMEs.

The new definition of MSMEs would benefit units. Enterprises with Rs 1 crore investment and Rs 5 crore turnover would now qualify as micro enterprises.

Businesses with an investment of less than Rs 10 crore and turnover less than Rs. 50 crores will now be classified as small enterprises. The definition for medium enterprises has been revised upwards to an investment of Rs 50 crore and a turnover of Rs 250 crore.

How to apply for an MSME Loan
Maniraj Anantham 3 December, 2022
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