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How to Get an SME Loan?

What is an SME Loan?

SME loan is the same as MSME loans. It is the business loan that provides financial help to SMEs to run and grow their business.

SMEs can use the funds from SME loans for the following business-related purposes:

To buy raw materials to increase production.
To buy machinery in order to increase production capacity.
To improve the infrastructure of the company.
To fulfil the working capital required for the business.
To pay salaries to the staff.
To cater to the marketing and distribution purpose.

Your loan amount requirement?^*

upto 3 lacs

3 - 5 lacs

Above 5 lacs

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ZipLoan is the Lender of Choice for Small Businesses.

Minimal Documentation

No balance sheet needed

No Prepayment Charges

After first 6 EMIs

Receive Funds Within 3 Days^*

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What is the SME/MSME Loan Eligibility?

MSMEs must adhere to the following MSME loan eligibility to get financial help:

The business vintage of at least 3 years.
The MSME should have filed an income tax return for at least 1 year.
The applicant should be 25-60 years of age.

What are the business loan documents for SME loans?

MSMEs have to provide the following business loan documents to get SME loans:

Identity proof
Address proof
Bank statement copy
Income tax returns
Business proof

What are the special features of SME/MSME loans?

MSMEs prefer MSME loans owing to the following special features:

Business loan amount: MSME can avail unsecured business loan of 7.5 lacs with an attractive business loan interest rate. They can use these funds for their business expenses.
Processing: MSME loan is an online business loan. And thus, the processing and disbursing of the loan amount is very easy. Once you have submitted al the essential documents, the representative will verify the same, and if approved, you can get the funds directly into your bank account.
Interest Rate: MSME can obtain MSME loans at an affordable MSME loan interest rate.
Business loan documents: MSMEs have to provide bases business loan documents for MSME loans.
Repayment tenure: The repayment tenure for MSME loans is quite flexible ranging from 12-36 months.
Online access: Once the financial lender approves the MSME loan, the funds get allocated to the MSME account. MSMEs can access details of their loan account by going online.

To conclude, MSMEs can apply for an MSME loan, through the Ziploan website or even through their mobile loan app, and get the funds to operate and grow their business.

Quick Links

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Frequently Asked Questions

How to get MSME loan?

MSME has to online submit the application form with business loan documents. Post verification of the documents, the MSME loan gets sanctioned.

How much is the MSME loan interest rate?

The financial lender determines the MSME loan interest rate on the credit score of MSMEs and, on its compliance with the eligibility criteria.

What is the difference between SME loan and MSME loan?

Both SME and MSME loan are the same.

How much amount is sanctioned under MSME loans?

It varies from one financial lender to another.

What are the benefits of MSME?

Benefits of MSME Registration 1) Bank Loans (Collateral Free) 2) Subsidy on Patent Registration. 3) Overdraft Interest Rate Exemption. 4) Industrial Promotion Subsidy Eligibility. 5) Protection against Payments (Delayed Payments) 6) Fewer Electricity Bills. 7) ISO Certification Charges Reimbursement.

What is MSME limit?

Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore. Investment in Plant and Machinery or Equipment: Not more than Rs.10 crore and annual turnover; not more than Rs. 50 crore.

Can I get MSME loan for a new business?

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

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.

Babu Lal

I always thought that loans and credit facilities were only available to large businesses with significant turnover. I never thought I would be eligible to qualify for a business loan too. Ziploan is boon for small enterprises like me.

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