MSME

What are MSME loans?

MSME loans are unsecured loans offered by several financial institutions to meet various business related expenses on credit. Such loans come with specific eligibility criteria which the applicant needs to meet. MSME loans are defined by the Indian Government and RBI as loans for business enterprises for support in terms of finance, infrastructure and other areas.

Financial institutions also offer these loans under several government schemes like –
• Credit Guarantee Funds Trust for Micro and Small Enterprises (CGTMSE)
• Prime Minister’s Employment Generation Programme (PMEGP)
• Micro Unit Development and Refinance Agency (MUDRA Loan)

Businesses must meet specific eligibility criteria mentioned under the schemes to enjoy the benefits extended by an MSME loan.
After what is MSME loan, also know that loans for MSMEs (Micro, Small and Medium Enterprises) come with variable tenor, making these advances conveniently affordable.
Finpair offers MSME Loans of up to Rs.30 lakh to help enterprises meet their immediate funding requirements. It comes with minimum eligibility and documentation requirements to simplify the process of availing a loan.
Available at affordable interest rates, the loan can be repaid in easy EMIs over the tenor. With Finpair, businesses can also opt to part-prepay or foreclose the loan account before the tenor ends at nominal charges. This borrower-friendly feature helps repay the loans affordably.
The government lays down specific criteria for a business’s classification as an SME or MSME. Check them out below.

MSME loans are a form of financial assistance provided to micro, small and medium enterprises.

• Finpair offers low interest rates on MSME loans with benefits such as a Flexi loan facility and more.
• Applicants can avail the MSME loan of up to Rs.30 lakh within 2 days.
• Exclusive pre-approved offers help MSMEs avail financing instantly.