MSME Loans
The Indian government provides loans to Micro, Small, and Medium Enterprises to support their expansion. India has a thriving network of MSMEs that cater to a significant audience. By availing MSME loans, businesses can gain the strength and potential to grow and establish themselves in the market with their products and services.
MSME (Micro, Small & Medium Enterprises) are classified in two ways:
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Manufacturing enterprises are businesses that create goods, using machinery to add value to the final product and give it a unique identity or purpose.
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Service Enterprises are businesses that provide or offer services.
As of July 1st, 2020, MSMEs are now classified based on a Composite Criteria of Investment in Plant & Machinery/Equipment and Annual Turnover.
What is the eligibility criteria for MSME loans?
- Self-employed professionals who practice allopathic medicine, act as company secretaries, are chartered accountants, or are architects.
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SENP refers to self-employed individuals who are engaged in trading, retail, manufacturing, proprietorship, or service provision.
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MSMEs can receive loans up to Rs. 45 lakh within 2 days with exclusive pre-approved offers for instant financing.
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At Udyami Mart, we offer hassle-free consultation and assistance for MSME loans.