MSME/SMEs Business loan Offers Start from 8.50%,
SMEs and MSMEs LoanBusiness loans for SMEs and MSMEs, the booming economy of the country, the development of several SMEs (Small and Medium Enterprises) and MSMEs (Ministry of Micro, Small and Medium-sized Enterprises) has promoted. Therefore, making use of an MSME business loan to meet the working capital needs of your company has now become effortless.
An MSME loan can use for several purposes, such as upgrading your company's infrastructure, buying and repairing factory machinery, purchasing raw materials, etc. With us, at LoanUnbox, you can easily avail MSME and SME business loans to set-up or expand your business.
Key features and Benefits of SMEs/MSME loans
- Quick online processing: Many lenders provide processing of all types of business loans online. With us, you can apply online for an SME business loan and get it approved within minutes. Not only will the Online Process save time, but it also guarantees that your request is approved immediately and that the balance disburses within 24 hours of approval into your bank account.
- Zero- Collateral: Most lenders are seeking collateral against the amount loaned for a commercial loan. Nonetheless, MSME loans are unsecured at LoanUnbox and do not require that the borrower provide any guarantee.
- Higher Loan Limit: The funds needed for a given company can vary depending on the planned expansion scale.
- Long term of repayment: An extended period of repayment of loans is necessary so that the borrower does not default on installments. A borrower at LoanUnbox will enjoy a versatile 12-60-month repayment period on MSME's business loan.
Eligibility and Documents Required for Business working capital Laon Process:
- Age:21-75 Years
Proof of both Identity and Residence (KYC):
- PAN card
- Voter ID
- Aadhaar Card
- Driver's License
Proof of income:
- Last Three Assessment Years Income Tax Returns with computation of income
- Minimum one year's Balance Sheet and Profit and Loss Account Statements, with Annexures / Schedules
- Last six months Current Account Statements of the business entity and Savings Account Statements of the individual
- Business Profile
- List of Directors and Shareholders with their shareholding certified by a CA / CS in case of a company
- MOA (Memorandum of Articles) and AOA (Articles of Association of the Company)
- Partnership deed in case of partnership firm
- If any ongoing loans of the individual and the business entity, including the outstanding amount, installments, security, purpose, balance loan term, etc.
- Passport Size Photographs
How You will Unbox Your Working Capital Loan:
- Fill up an online application form with the necessary documentation
- Upon submission and once verified our expert visits you for confirmation and sanction the loan/go online.
- Receive the loan in your bank account.
Working Capital Loan Fees and charges:
- Processing fee.
- Services Tax or GST.
- Verification charges. (if applicable)
- Fees for issuing duplicate statements
- Penalty for default EMIs
- Penalty for pre-payment and part payment of the loan
- lenders might collect documentation charges. These rates differ from lender to lender.