MSME Loan/SME Loan

MSME Loan Scheme 2020

Looking for a quick MSME loan in India to boost up your slow-moving business? We at Ziploan offer hassle-free MSME/SME loan up to 7.5 lakh to meet your financial requirements. You can get unsecured MSME loan online without collateral in just 3 days* after submitting few documents.

How old is your business?
Last year’s Sales?
First Name
Last Name
Phone
Name your city

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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Collateral Free Loan

For a business with turnover of 10L+

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Receive Funds within 3 Days

Straight into your account

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No Prepayment Charges

After first 6 months

What is MSME/SME Loan?

Micro, Small and Medium Enterprise (MSME) loan is a kind of business loan that financial institutions provide to individuals, SMEs, MSMEs, and Startups. MSME loan schemes are designed to meet businesses to their working capital requirements, increase cash flow, buy new types of machinery, etc.

Top Features of MSME/SME Loan:

  • MSME/SME Finance up to Rs 7.5 lakh – We offer MSME loans without collateral ranging from Rs. 1 to 7.5 lakhs. We have a flexible ticket size, so you can pick the amount that you require.
  • Unsecured Loans - We offer unsecured business loans to MSME. That means you don't need to worry about security or collateral for getting access to MSME finance.
  • Loan in 3 Days* - Online submission of the documents help us process your loan application faster. We disburse the loan amount within three days* after getting your MSME loan documents.
  • Apply Online - To apply MSME loan scheme fast and comfortably, we have made the entire application process online. We also offer same-day approvals with disbursals within three days after the documents are submitted and verified.
  • Best Interest Rates - Our MSME loan interest rates are the best in the industry. No manual intervention but the automated process makes our process and interest rates fair. The interest rates are offered on the basis of your business' repayment ability.
  • Flexible Repayment Tenure -  Our repayment tenure starts from 12 months to 36 months. Therefore, you get enough time to repay the loan amount.
  • No Prepayment Charges - We offer MSME loans at no prepayment charges after you have paid the first 6 EMIs (excluding pre-EMI).

Benefits of MSME Loan Scheme from ZipLoan

The following are the benefits of availing an MSME loan from us:

Eligibility Criteria of MSME Loan

Out MSME loan eligibility criteria are simple to let more and more business individuals avail the loan amount.

Documents Required for an MSME / SME Loans

 ProprietorshipPartnershipPvt. Ltd. / LLP / One Person Company
Bank statement (12 months)
Business registration proof
PAN Card
Aadhar Card
ITR of the previous two years

MSME / SME Loans Fees & Interest Rates

Customized Interest RatesYes
Loan Tenureup to 36 months
Pre-closure chargesNil** after paid first 6 EMIs
CollateralNot required for unsecured business loans
Eligibility CriteriaAnnual turnover more than Rs.10 lakh
Loan Amount₹ 1 Lakh – ₹ 7,5 Lakh

How to Calculate MSME/SME Loan EMI?

Here is the formula to calculate MSME Loan EMI

EMI = P × r × (1 + r) n/ ((1 + r) n – 1)

Above:

P: Loan amount, r: interest rate, n: tenure in number of months

How to Apply for MSME/SME Loan

Here are three steps process to MSME loan apply online from ZipLoan:

  1. Submit Application - Simply enter your personal, business and financial info to receive an MSME / SME Loans offer.
  2. Upload Documents - Upload digital copies of your documents in a single step process for verification.
  3. Get Sanctioned - Receive your MSME / SME Loans approval and disbursal within 3 working days*.

How to Use MSME/SME Loan 2020-21?

MSME loan scheme 2020 is a great way to fund your business when needed. Here how you can utilize the fund of MSME/SME finance.

Relief Package for MSMEs

COVID19 Relief and Atmanirbhar package for MSMEs announced on 13th May 2020

New Definition of MSMEs announced

Government MSME Schemes

MSME SchemesDescription
Mudra LoanThe Mudra loan yojana offers fund to MSMEs without collateral. The scheme focuses more on priority sector lending, with maximum lending of ₹ 10 Lakh.
CGTMSE LoanCredit Guarantee Funds Trust for Micro and Small Enterprise or CGTMSE is a Government of India's  MSME Loan scheme to provide collateral-free loans to the existing and new Micro and Small scale industries. The loans are granted for a maximum amount of ₹ 1 Cr..
PMEGP LoanPrime Minister’s Employment Generation Programme or PMEGP is an integrated subsidy scheme linked with Prime Minister Rojgar Yojana. The scheme was launched in 2008 and aims to provide business opportunities for the unemployed youth.

MSME Schemes by Banks in India

MSME ProductsDescription
Working Capital LoanBanks offer these types of loan to fulfil daily cash requirements. Working capital loans example are Cash Credit Loan, Bills Discounting Facility and Letter of Credit (LOC
Term LoanTerm Loan on other hand can be used for capital expansion, capital expenditure or buying fixed assets. It can be secured and unsecured.

 
 
 

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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 because they required no collateral. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.

Ready for Ziploan to
empower your business ?