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.
You can determine your SME and MSME loan eligibility on the SMFG India Credit website. Common criteria include:
You can also calculate your loan eligibility by using our business loan eligibility calculator.
Here is a list of documents required for an MSME loan and an SME loan from SMFG India Credit:
To make the lending process effortless, we strive to provide loans with minimal documentation.
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:
*Subject to terms and conditions
According to the definition laid down by the regulatory authorities, certain companies are classified as small or medium enterprises in the manufacturing and service sector. These industries are further subdivided based on the amount capital invested and the turnover they generate. For an enterprise to be classified as a small enterprise, an enterprise should have an investment not more than Rs. 10 crores and a turnover not more than Rs. 50 crores. A medium enterprise should have investments not more than Rs. 50 crores and a turnover not more than Rs. 250 crores.
The MSME full form is – Micro, Small and Medium Enterprises. MSME entities are set up under the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 and have contributed greatly to India’s economy and have been rightly considered as its backbone. MSME’s are engaged in the production, manufacturing, processing or preservation of goods and commodities. They have resulted in the development of the backward and rural areas of the country, in increasing exports, promoting industrialization as well as generating employment opportunities.
SME loans can be best defined as the loans extended to SMEs to cater to their business requirements and provide the funding required for expansion, working capital and infrastructure/business development.
MSME loan is financial support and benefit provided to the enterprises that fall within the criterion of MSME and have taken the registration for the same. This is a collateral-free loan that is given to MSME enterprises to provide support of finance, for building their infrastructure and others as per their specific needs.
SMFG India Credit offers SME loans with interest rates ranging anywhere between 17% to 21% considering several key parameters such as the business condition, any existing monthly obligations, business location, yearly net income and the loan application.
The MSME loan interest rate varies between 17 – 21% and is based on customer type, cash flows, repayment plans, collaterals, credit history, loan tenure. The two types of interest rates on MSME / SME loans at SMFG India Credit are –
MSME registration is beneficial to businessmen as they can get loans without collaterals, subsidies on patent registration and industrial promotion, overdraft facility with interest rate exemption, electricity bill concessions, reimbursement of ISO registration charges and protection from delayed payments from buyers.
If you are an existing customer of SMFG India Credit, you can also apply for MSME loans under the ECLGS Scheme.
* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.
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