If you are planning to start a new business, you must be prepared to invest in it, however, not everyone has the required capital to fund their venture. This is where MSME loans for new business come into play. In this article, we will discuss the MSME loan scheme for new businesses and how it can benefit you.
What is an MSME certificate?
Before diving into the details of MSME loans, let us first understand what an MSME certificate is. An MSME certificate is a government-issued document that certifies a business's status as a micro, small, or medium enterprise.
To apply for an MSME certificate, you need to register your business under the MSMED Act 2006. You can register your business online by visiting the Udyog Aadhaar portal. Once you obtain an MSME certificate, you become ra
eligible for various schemes, benefits, and subsidies offered by the government.Yojana, Stand-Up India, Credit Guarantee Fund Trust for Micro and
Small Enterprises, etc. These loan schemes provide financial
assistance to MSMEs at a subsidised interest rate, making it easier
for them to fund their operations.
MSME loan schemes for new businesses
The Indian Government has launched various loan schemes exclusively for MSMEs, such as Mudra Yojana, Stand-Up India, Credit Guarantee Fund Trust for Micro and Small Enterprises, etc. These loan schemes provide financial assistance to MSMEs at a subsidised interest rate, making it easier for them to fund their operations.
Bajaj Finserv Business Loan
Apart from government schemes, financial institutions also offer business loans to MSMEs. Bajaj Finance offers collateral-free business loans that provide funds up to Rs. 80 lakh to eligible entities. The loan is available at a competitive interest rate, and the application process is hassle-free and quick.
Benefits of Bajaj Finserv Business Loan for MSMEs
Here are some of the advantages of availing of a Bajaj Finserv Business Loan for your MSME:
- Collateral-free loan: Bajaj Finserv Business Loan is a collateral-free loan that does not require you to pledge any assets as security. This means that you can avail of the loan without having to worry about losing your valuable assets.
- High loan amount: Bajaj Finserv Business Loan offers a high loan amount of up to Rs. 80 lakh. This makes it easier for MSMEs to fund their operations and scale up their business.
- Flexible repayment tenure: Bajaj Finserv Business Loan offers a flexible repayment tenure of up to 96 months. This means that you can choose a repayment tenure that suits your business's cash flow and repayment capacity.
- Competitive interest rates: Bajaj Finserv Business Loan offers competitive interest rates that make it easier for MSMEs to repay the loan without facing a financial burden.
- Hassle-free application process: Bajaj Finserv Business Loan offers a hassle-free application process that is easy and quick. You can apply for the loan online by filling out a simple application form and submitting the necessary documents.
Starting a new business is not easy,and financing it can be a significant challenge. MSME loan for new business provides the necessary financial assistance to kick-start your venture. Whether you opt for government schemes or Bajaj Finserv Business Loan, MSME loans offer easy access to funds, low interest rates, tax benefits, and a boost to the economy.
If you are planning to start a new business and are looking for financial assistance, consider applying for a Bajaj Finserv Business Loan for MSMEs. It could be the push your business needs to take off.
