Overview
Small and Medium Enterprises (SME) loans are designed to support business growth, expansion, and operational needs. Whether you're starting a new business or scaling up an existing one, our SME loan solutions provide quick financing, flexible repayment terms, and minimal documentation.
Features
| High Loan Amount |
: |
Get financing up to crores |
| Flexible Repayment Tenure |
: |
depending on business turnover and loan type |
| Collateral & Non-Collateral Options |
: |
Loan tenure ranging from 12 months to X years |
| Quick Disbursal |
: |
based on business needs |
| Competitive Interest Rates |
: |
Both secured (collateral-based) and unsecured (no collateral required) SME loans are available. |
How To Apply
Applying for an SME loan is simple and quick:
- Check
Eligibility – Ensure you meet the required business and financial
criteria.
- Submit
Application – Apply online through the lender’s website or visit a branch.
- Upload
Documents – Submit business registration proof, KYC documents, income
statements, and bank records.
- Loan
Processing & Verification – The lender assesses your financials,
credit history, and business viability.
- Approval & Disbursement – Once approved, the
loan amount is disbursed within a few working days.
Eligibility
Eligibility Criteria for SME Loans
- Business
Age: Minimum X years of operations (varies for startup loans).
- Annual
Turnover: Minimum revenue requirement based on loan type.
- Business
Type: SMEs, proprietorships, partnerships, and private limited
companies.
- Credit Score: A good CIBIL score improves approval chances.
Interest & Charges
SME Loan Interest Rates & Charges
- Interest
Rate: Starting from X% p.a. (varies by loan type).
- Processing
Fee: X% of the loan amount.
- Prepayment
& Foreclosure Charges: Nil or X%, depending on the lender.
- Late Payment Penalty: X% per month on overdue EMI.
Frequently Asked Questions (FAQs)
1. What is the maximum loan amount available for SMEs?
The loan amount varies based on the business type, turnover,
and loan category.
2. Do I need collateral for an SME loan?
Some loans are secured, while others, like Unsecured
Business Loans, do not require collateral.
3. How long does it take for SME loan approval?
Loan processing typically takes X to Y working days,
provided all documents are in order.
4. Can I prepay my SME loan before the tenure ends?
Yes, prepayment is allowed. Some loans may have foreclosure
charges (if applicable).
5. What documents are required for an SME loan?
- Business
registration proof
- KYC
documents (Aadhaar, PAN, etc.)
- Bank
statements (last X months)
Income Tax Returns (ITR) of the business.
