MSME Loan in Ahmedabad

As per the Micro, Small and Medium Enterprises Development Act (MSMED), 2006, the following criteria need to be met to qualify for different MSME schemes in India.

1. Micro – Investment does not exceed Rs.1 crore, and annual turnover is less than Rs.5 crores.
2. Small – Investment does not exceed Rs. 10 crores, and annual turnover is below Rs. 50 crores.
3. Medium – Investment is less than Rs. 50 crores and generates a maximum turnover of Rs. 250 crores. 

These are the revised parameters for MSMEs in Ahmedabad and India, allowing more numbers of organisations to benefit from government schemes. However, several stringencies entail a government-backed MSME loan/SME loan, like an extended processing period.

MSME loans in Ahmedabad that banks and NBFCs offer are quicker. But, eligibility requirements are more rigid. It includes –

• Applicant’s credit score should be 750 or above
• Enterprises should boast a business vintage of 2 years, in profit
• Minimum annual turnover of Rs. 25 lakhs

As is evident, it might be challenging for any new organisation to avail an SME loan in Ahmedabad. Plus, the need for audited financial documents poses a further difficulty.

Moreover, the interest rate of an MSME loan can go up to 21% and above, depending on the borrower’s credit profile. 

In such cases, a gold loan can be an excellent alternative to an MSME loan. It offers nearly all the combined advantages of government-backed MSME loans and stable finances offered by banks and NBFCs but sans their hassle.

Study the following table to differentiate between two loan products. 

The above table substantiates the advantages of availing a gold loan over a conventional SME finance Ahmedabad. Moreover, one can maximise these benefits ten-fold by opting for a Rupeek gold loan. Individuals can also use Rupeek gold loan calculator to get an estimation of how much gold they need to pledge against the required loan amount. 

Following are some of the features of Rupeek gold loan that keeps this product ahead of an MSME/SME loan in Ahmedabad. 

1. We offer the highest per gram value of the gold. Businesspersons can get up to Rs.1.5 crores in Ahmedabad to finance different monetary obligations. 
2. Our interest rate starts from just 0.49% per month, and we also facilitate a flexible repayment of the loan. Borrowers can choose a scheme accordingly by assessing their finances. 
3. People need only to submit KYC documents and address proof to get the funds from Rupeek. 
4. Total loan processing takes only 45 to 60 mins. Moreover, Rupeek does not have any waiting or lock-in period. Thus, borrowers can use the funds as soon as the amount is disbursed. 

Moreover, people who wish to maximise the benefits of a Rupeek gold loan can also opt for a gold overdraft facility, Rupeek Quick. It allows borrowers to get instant funds for any financial emergency. 

This facility allows existing Rupeek borrowers to avail an extended credit line on top of their active gold loan. Since this fund is availed on an existing loan, individuals do not have to submit any additional document. All they have to do is pledge some extra gold and the amount will be credited to their wallet instantly. Due to this straightforward disbursal process, people can apply for this fund to address any short-term, emergency financial necessity. 

Moreover, borrowers can utilise the credit directly from the wallet or transfer the amount to their bank account. In either way, the interest is levied only on the amount utilised or withdrawn. Resultantly, the borrower will get some relief on interest payment. 

Besides these benefits, entrepreneurs can also enjoy doorstep loan service with Rupeek. With our representatives dotted across the geography of Ahmedabad, businesspersons can finally put an end to their ‘MSME loan/SME loan provider near me’ searches.

We are currently operating in all these places in Ahmedabad. Check out the list to avail our doorstep gold loan in 30 minutes. 

1. Asarwa
2. Navrangpura
3. Maninagar
4. Chandkheda
5. Manekchowk
6. Sabarmati
7. Vastrapur
8. Bapunagar
9. CTM Char Rasta
10. Naroda
11. Bopal
12. Khadia
13. Satellite road
14. Lal Darwaja

Bolster your enterprise’s financial health with an MSME loan/SME loan against gold today with Rupeek.

Apply now to get a Rupeek gold loan and enjoy attractive deals!