Get MSME Loan / SME Loan up to Rs. 75 Lakhs*

A loan offered to an SME or a company registered as a Small and Medium Enterprise is commonly referred to as an SME Loan. On the other hand, an MSME Loan is sought by a company registered under Micro, Small and Medium Enterprises. SMFG India Credit provides loans in both these categories to businesses who are looking to expand their operations by purchasing machinery, equipment and raw material, to invest in fixed assets or even to meet their requirements for working capital.

Based on the loan application, SMFG India Credit can provide a loan of up to Rs. 75 Lakhs* to both SMEs and MSMEs without seeking any collateral at competitive interest rates. Our loan solutions are designed to be flexible to meet the needs of our varied client base.

SME / MSME Loan Interest Rates

• SME Loan Interest Rate: Depending on various factors such as location, net income, business stability, collaterals, existing monthly obligations, etc., the SME loan interest rate can vary. If the borrower owns a business and is a self-employed individual, SMFG India Credit offers personal loans for self-employed at interest rates starting from 17% per annum. 
• MSME Loan Interest Rate: The MSME loan interest rate are minimal and based on a number of parameters like nature of business, industry type, number of years in existence, financials, and so on. 

Eligibility Criteria for SME / MSME Loan

You can determine your SME and MSME loan eligibility on the SMFG India Credit website. Common criteria include:

• Age Criteria: Minimum 22 years at the time of application and Maximum 65 years of loan maturity
• In case of Individuals: Individuals who have been engaged in the current business for at least three years with a total of five years of business experience.
• Company Type: Self-employed individuals, proprietors, private limited companies, and partnership firms working in manufacturing, trading, or services.
• Business Turnover: At least Rs. 10 lakhs per year
• Business Vintage: Minimum 2 years in profit
• Business with a Minimal Annual Income (ITR) of Rs. 2 lakhs per year

You can also calculate your loan eligibility by using our business loan eligibility calculator.

Documents Required for MSME / SME Loan

Here is a list of documents required for an MSME loan and an SME loan from SMFG India Credit:

1. A photograph that is not older than 6 months
2. Proof of Identity - PAN card for the business as well as the applicant will have to be provided
3. Valid address proof of the business (such as business registration certificate) as well as the applicant (Aadhaar card, passport copy, etc)     
4. Bank and income statements for the last 6 months along with Form 16
5. Income Tax or GST Returns for the last 2 years with an audited income summary
6. Your financial statements with a declaration of cash profits for the last 2 years along with annual turnover demonstrating a positive trend in the current financial year
7. Proof of Business existence (like Certificate of Incorporation, etc.)

To make the lending process effortless, we strive to provide loans with minimal documentation.

How to Apply for SME / MSME Loan?

At SMFG India Credit, you can apply for an SME and MSME loan by visiting your nearest branch office or through the convenience of our website.

If you wish to apply for the loan online, follow these easy steps:

1. Fill in Your Application: Your application form can be filled and submitted online. Make sure that you’ve submitted all relevant personal, professional and financial details accurately, to the best of your knowledge. 
   When your application is received by SMFG India Credit, a representative from the appropriate department will get in touch with you within a designated timeline. All possible loan options will be discussed at this stage, along with best interest rates, EMIs and loan tenures. 
2. Document Upload: Once your pre-assessment and eligibility by SMFG India Credit have been confirmed, you can proceed with the document upload process. This can be done completely online. You can also request doorstep pickup service at a convenient time, and our representative will collect the documents from you. 
   After the document submission is complete, the relevant team at SMFG India Credit will review them for verification. 
3. Loan Disbursal: Upon successful verification, once SMFG India Credit approves your loan request, we will share the loan agreement with you. This outlines all the terms and conditions of the loan along with interest rates and loan repayment tenure. Once you sign and the document is received by SMFG India Credit, the funds are generally dispersed within 24 hours to your bank account.

Why opt for SMFG India Credit’s SME Loans?

• Transparent and Fast-tracked Loan Disbursement Procedures
  We try to keep our SME loan procedures transparent so that customers can make an informed decision. We provide easy online access to various tools to check your eligibility and loan application requirements such as our business loan eligibility calculator, EMI calculator, and documentation list. For SME funding requirements up to 75 Lakhs*, we offer affordable and competitive interest rates and aim for easy and fast-tracked disbursements of collateral-free loans.
• Flexibility in Loan Repayment 
  We offer ample flexibility to our customers with respect to the repayment schedule. You may schedule your loan repayment with us, anywhere between 12 – 60 months, based on your receivables. Similarly, if you want an early settlement of your loan, we offer fore-closure options without extra charges*.
• Online SME Loan Processing 
  Applying for SME loans at SMFG India Credit has been made quicker through the online application procedures. Based on your eligibility, desired tenure and loan amount with the relevant documentation, we provide you with a customized offer with the best available interest rates and terms.

*Subject to terms and conditions

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