How to Apply for An MSME loan?

MSME Full Form is Micro, Small, and Medium Enterprise. In simple language, it is called a small and medium industry. These industries have a very significant contribution to the Indian economy. Such industries employ more people with less space, more production in resources, and cost.

The Government of India is working under a special scheme to give direction to these industries and to help them financially. The biggest problem of MSME industries is the economic crisis. Because the businessmen running these industries are not rich traders but they are ordinary businessmen and there is often news of small industries getting submerged in debt.

Keeping these things in mind, the central government is working to provide business loans to these industries by running special schemes. It should be known to you that the business loan is also provided to MSME businessmen by the country's leading non-banking financial company ZipLoan.

A business loan of up to Rs 7.5 lakh is provided to MSME businessmen by the country's leading NBFC ZipLoan in just 3 days*. Let us understand in detail how to apply for an MSME loan.

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What is The MSME loan?

Micro, Small, and Medium Enterprises (MSME) loans are generally given to start-ups and small business entrepreneurs/traders. The interest rate of the MSME loan is lower than the market rate and the repayment period is also relaxed. The repayment period depends on the loan amount and the financial condition of the business.

As we are all aware that there is a lockdown in the country due to the Covid-19 epidemic at this time. The worst impact of this lockdown has been on MSME traders which have broken businessman’s back. They will have to build their business once again for which they will need money.

To solve the difficulties of the businessmen, respected Finance Minister Smt. Sitharaman has announced to make the process of granting MSME loans easier. Now application for MSME loan can be made through a portal (MSME portal). It should be known that MSME loans can also be received from NBFC with government-private banks

Documents Required for MSME Loan

Before applying for an MSME loan, it is mandatory to keep some important documents ready for the MSME loan. The documents which have to be kept ready are:

  1. Aadhar Card
  2. Proprietor's PAN card number
  3. PAN card made in the name of the industry
  4. Any of the government-issued ID
  5. Any residence certificate issued by the government
  6. One age certificate verified/certified by the government
  7. Industry Registration Proof
  8. If the industry comes under GST, then registered GST number otherwise cell tax number
  9. Last 12 months bank statement
  10. Last 2 years balance sheet of the industry. It is mandatory to clearly show the profit and loss of the industry in this balance sheet.

Who is Eligible for The Loan Scheme in 59 Minutes?

All those industries meet the requirements of MSME (Micro Small and Medium Enterprises). Apart from this, no guideline has been set yet.

Here is how to apply for MSME loan:

  1. First of all, visit the website. This is the national portal for the registration of MSMEs. Enter the Aadhaar number, Entrepreneur name, and details, then click Generate OTP.
  2. An OTP will go to your mobile number, it is linked to your Aadhaar card. Fill in your OTP and click "Validate", after which you will see an application form.
    Enter all the details required.
  3. After filling in all the required details in the application form, click "Submit".
    After clicking the "Submit" button, the page will ask if you entered all the data correctly. Click "OK" to confirm.
  4. Now, you will again get an OTP on your mobile number which is linked to your Aadhaar card. Fill in the OTP and click "Final Submit" to submit the application form.
  5. Now you will see the registration number, note it for further work.

It should be known that Udyog Aadhar Portal is a centralized portal for MSME loans. On this portal, you can register your industry once and apply for a loan from the following banks simultaneously.

Get MSME Loan from ZipLoan in just 3 Days*

Realizing the need for immediate money for MSME traders, the country's leading non-banking financial company (NBFC) ZipLoan provides business loans up to 7.5 lakhs to MSME traders in just 3 days*. The business loan from ZipLoan is pre-payment free after 6 months.

MSME Loan Entitlement from ZipLoan

Many MSMEs are sometimes not eligible to get business loans from other companies and banks. In such a situation, it should not be so that the businessman doesn't get funds due to the high MSME loan eligibility criteria, that's why the very easy eligibility for a business loan has been determined by ZipLoan. The eligibility is as follows:

Documents ZipLoan Asks You When You Apply for MSME Loan from ZipLoan

ZipLoan considers the importance of time for MSME traders, therefore, no more paperwork is required, but only 4 paper documents provide business loans. The list of paper documents that are sought is as follows:

Benefits of Taking An MSME Loan from ZipLoan

MSME Loan Fees & Interest Rate

A borrower who meets the eligibility criteria completely is the least risky for the lender. Thus, he is offered the lowest interest rates as well. And borrowers who are risky to lend are offered loans at high-interest rates. Therefore, the interest rate depends on how well you meet our MSME loan eligibility.


Solving Real problems

Ram Yadav

I have been running my business for over twelve years but have not been able to undertake expansion activities. I applied to Ziploan and they cleared my loan application in a very short span of time.

Kanchan Lata

I approached Ziploan for an equipment finance loan. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.

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