Benefits of MSME Loan from ZipLoan
Our MSME loan schemes help your business to explore opportunities and grow exponentially. The following are the benefits of availing an MSME loan from us:
- Manage Capital Efficiently: the amount availed under the loan can be used for a number of purposes. You can use the amount to expand your business, purchase plant or machinery, or open shop/office at a new location. You can also streamline your working capital with the loan amount.
- Control your Business: by availing a collateral-free business loan from us, you keep important personal and business assets with yourself. So, your business always remains in your control. And that we also not take any security, you also remain in charge of your assets.
- Business Expansion: our fast turnaround time means you get access to funds superfast. With the funds in the account, you can move forward your business activities from planning to execution. With an unsecured MSME loan from ZipLoan, you can get ahead with production, product marketing, and expand your supply network as well.
- Raise Credibility: with the loan amount, you can give your business the much-needed boost and prove your credibility in the market. This will help you create goodwill in the market. Having credibility will ultimately aim in increasing sales.
Eligibility Criteria of MSME Loan
We have kept our eligibility minimal to let more and more business owners get access to funds for their business. We don't require a long list of documents for business loan approval.
- An established MSME with a proved business vintage of more than two years
- Minimum annual turnover of Rs. 10 lakhs in the previous year
- The business must not have any default history
- The income tax filed during the last year should be more than Rs. 1.5 lakhs
- The borrower should own either house or business place
Documents Required for MSME Loan
To avail a small business loan from us, you need to submit the following documents:
- PAN card
- Aadhar card
- Bank statement of the last nine months
- ITR of the previous two years
- Business place address proof
MSME Loan Fees & Interest Rate
A borrower who meets the eligibility criteria completely is 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.