How to Get MSME Loan?

Micro, small and medium-sized enterprises have started contributing a lot to the economy of the country. Moreover, MSMEs also employ more people, considering less space, and more production. To support MSMEs, governments and financial institutions have stepped forward to provide them with ease on availing the funds. The government has launched schemes like the CGTSME loan scheme, Mudra loan, while NBFCs provide MSME loans to these small and midsized companies.  

The business loan to MSME businessmen is provided by the country's leading non-banking financial company ZipLoan. NBFCs like Ziploan have started offering various types of small business loan. Ziploan offers loans like a working capital loan, machinery loan, and business loan for women, etc. An unsecured business loan up to Rs 7.5 lacs is been granted to the MSME businessmen in just 3 days*. Now let us take a look at how to apply for an MSME loan. 

instant business loan

ZipLoan is the Lender of Choice for Small Businesses.

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Minimal Documentation

No balance sheet needed

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No Prepayment Charges

After first 6 EMIs

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Receive Funds Within 3 Days*

Straight into your account

What is an MSME loan? 

MSME loans are for start-ups and small business entrepreneurs. The business loan interest rate on MSME loan is much lower than the market rate and the repayment period is also quite flexible. The repayment period in the MSME loan depends on the amount of the loan and the business financial condition. 

To make the process of granting MSME loans easier, the finance minister has made the process online. Now MSME loan application can be done through the MSME portal. Also, MSME loans can also be availed from NBFC with government-private banks.  

Documents Required for MSME Loan 

While it is mandatory to have some of the important documents handy for the MSME loan. Below is the list. 

  1. Aadhar Card 
  2. Proprietor's PAN card  
  3. PAN card in the name of the industry 
  4. Any government-issued ID 
  5. Any residence certificate issued by the government 
  6. Age certificate certified by the government 
  7. Industry registration proof 
  8. GST registered number or cell tax number 
  9. Last 12 months bank statement 
  10. Last 2 years balance sheet 

How to Apply for MSME Loan

  • Step 1:- Visit Udyogaadhaar.gov.in website. Enter the Aadhaar card number, name, and details, then click generate OTP. 
  • Step 2:- An OTP will be sent to your mobile number, it is linked to your Aadhaar card. Fill in the OTP and click on “validate", post which you will see the application form, and then fill in all the details asked. 
  • Step 3:- After filling in all the necessary details, click "Submit". 
  • Step 4:- After clicking "Submit", it will ask if you entered all the data correctly. Click "OK" to confirm. 
  • Step 5:- Once again, you will get an OTP on your mobile number. Fill in the OTP and click on "Final Submit" to submit the application. 
  • Step 6:- Now you will see the registration number. 

On the portal, MSME owner can register the industry and apply for an MSME loan from the mentioned banks. 

  • State Bank of India 
  • HDFC Bank 
  • Allahabad Bank 
  • Central Bank of India 
  • ICICI Bank 
  • Oriental Bank of Commerce 
  • Union Bank of India 

Avail MSME loan from Ziploan in just 3 Days* 

Understanding the need of MSME for immediate funds, An NBFC in Delhi, ZipLoan provides small business loan up to 7.5 lacs to MSME in just 3 days*, without any security.  

MSME loan from Ziploan 

Many times due to the high eligibility criteria set by various financial institutions, MSMEs are unable to satisfy and meet their criteria, and that is why very simple and easy to meet MSME loan eligibility criteria has been set by Ziploan. The eligibility is as follows: 

  • More than 2 years in business
  • More than 10 lacs of annual turnover 
  • More than 1.5 lacs of ITR filled in the previous year 
  • Residence or business address proof in the name of the applicant 

Documents Required to Apply for an MSME Loan from Ziploan

ZipLoan understands time is money for the MSME owners and so no paperwork is required, but only 4 important documents are required to provide business loans, which are as follows.  

  • Aadhar card and PAN card 
  • Last 9 months bank statement 
  • Copy of ITR filed last year 
  • Ownership of either residence or business  proof 

Benefits of an MSME loan from Ziploan

  • Apply for an online business loan 
  • Minimal documentation 
  • Avail business loan without security 
  • Post 6 months, business loan availed is free from pre-payment charges  
  • After depositing 9 EMIs, businessman becomes eligible to get a top-up loan 

Nevertheless, a borrower who meets all the above-stated business loan eligibility criteria completely can easily avail of a loan. He is also offered the lowest business loan interest rates as well.  

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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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