MSME-Loan
SME/MSME business loans will empower you to grow and take your SME/MSME venture to the next level. In fact, there are various government schemes as well, which have an aim to encourage small businesses to grow at a rapid pace. And if you can get a SME/MSME loan with these available government schemes then you will fast-track your small venture.
Apply through our LSP UpCash at upcash.in. The process is fully digital — fill in your details, complete KYC, and receive an instant credit decision without visiting any branch.
The following documents are required for a SME/MSME loan for business:
Id proof- Driving License, Passport, Voter Id card OR PAN card, Aadhar card
Residence proof- Driving License, Passport, Voter Id card OR Ration card, Aadhar card, Electricity bill, Water bill
Financial documents- Last two years ITR, Balance Sheet of the firm OR Profit and Loss statements, Last 6 months bank statements
Business proof- Registration certificate, Certificates of business existence OR Memorandum and Articles of Association
Enterprises who are running businesses for at least 3 years are eligible for MSME loan for business, provided they are in the 25 to 65 years age category. An IT return filed by the business for at least 1 year is also necessary.
If your documents and profile are eligible, then the minimum time to get a SME/MSME loan for business is 7-10 days to process your application. But in cases of applications asking for a huge amount of money may take more than the usual clearance time.
Yes, credit score/CIBIL score is important for getting a SME/MSME loan as a good CIBIL score lets the lenders make faster decisions for approval of the applicant's loan request.
An applicant can get a loan of up to 1 cr depending on the size of the business. Different institutions have a different capacity of providing different amounts to the various applicants. You need to mention the required amount at the time of filling up the application form.
Yes, the loan amount will depend on the valuation of the property. You need Self Occupied Residential Property (SORP) for the same.
Yes, residential property mortgage is a must even if you are ready to give commercial property as additional collateral.
Yes, in case the customer is mortgaging his residential property too for rechecking.
Yes, if evidence of self-occupied and self-commercial use is specified.
To avail an MSME Loan, you can call on our number +91 90575 32022 or fill your details online form here, for a SME/MSME loan.
There is a minimum of 3 years and maximum of 10 years to repay your MSME business loan.
Your EMI depends on the loan amount. Please reach out to our team by filling this form and they can assist you further.