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.
No balance sheet needed
For a business with turnover of 10L+
Straight into your account
After first 6 months
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.
The following are the benefits of availing an MSME loan from us:
Out MSME loan eligibility criteria are simple to let more and more business individuals avail the loan amount.
| Proprietorship | Partnership | Pvt. Ltd. / LLP / One Person Company | |
|---|---|---|---|
| Bank statement (12 months) | ✓ | ✓ | ✓ |
| Business registration proof | ✓ | ✓ | ✓ |
| PAN Card | ✓ | ✓ | ✓ |
| Aadhar Card | ✓ | ✓ | ✓ |
| ITR of the previous two years | ✓ | ✓ | ✓ |
| Customized Interest Rates | Yes |
| Loan Tenure | up to 36 months |
| Pre-closure charges | Nil** after paid first 6 EMIs |
| Collateral | Not required for unsecured business loans |
| Eligibility Criteria | Annual turnover more than Rs.10 lakh |
| Loan Amount | ₹ 1 Lakh – ₹ 7,5 Lakh |
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
Here are three steps process to MSME loan apply online from ZipLoan:
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.
COVID19 Relief and Atmanirbhar package for MSMEs announced on 13th May 2020
| MSME Schemes | Description |
| Mudra Loan | The Mudra loan yojana offers fund to MSMEs without collateral. The scheme focuses more on priority sector lending, with maximum lending of ₹ 10 Lakh. |
| CGTMSE Loan | Credit 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 Loan | Prime 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 Products | Description |
| Working Capital Loan | Banks 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 Loan | Term Loan on other hand can be used for capital expansion, capital expenditure or buying fixed assets. It can be secured and unsecured. |
What are the documents required for MSME loans?
We require a few important documents to process your loan application: 1. ITR for the last two years 2. Aadhar card & PAN card 3. Business place address proof 4. Bank statement (Previous nine months)
Who is eligible for MSME loans from ZipLoan?
The applicants need to submit at least two years' business vintage proof and bank statement with a turnover of more than Rs. 7.5 lakhs. They must be within the age bracket of 25 to 55 years & have their business' ITR filed of more than Rs. 1.5 lakhs.
How can I Avail an MSME loan?
To avail an MSME loan from us, you need to meet our eligibility criteria and have a minimum ZipScore of 550 with no previous records of loan defaults or settlements.
Who can all avail an MSME loan?
Business entities and self-employed professionals and non-professionals can avail this facility from us.
What is the MSME loan interest rate?
We offer the best MSME loan interest rates in the market.
How to apply for an MSME loan?
To apply for an MSME loan: Fill up the online loan application form of MSME loan. Submit all the relevant documents to complete the process. Get money in bank account within three days*
What is the advantage of availing MSME loan from Ziploan?
We offer unsecured MSME loan with fast turnaround at best interest rates.
What is the difference between MSME loan and SME loan?
MSME stands for micro, small and medium enterprises while SME stands for small and medium enterprises. MSME loans are sometimes called as SME loans.
