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MSME loan in Ahmedabad

Ahmedabad, ‘the Manchester of the East’, is one of the largest economic and industrial hubs of western India. This former capital of Gujrat carries a rich historical connotation of culture and heritage. Sabarmati Ashram, the Adalaj Stepwell, Kankaria Lake, and Jama Masjid are some of the famous tourist spots in Ahmedabad.

Moreover, its strategic location and proximity to Surat port have made this city one of the most promising trading centres of Gujarat. Besides large industries like textile, pharmaceutical, and chemical, several small and medium-scale enterprises are also present in this city. To compete with these large industries and for business expansion in Ahmedabad, small business owners often require MSME loan/SME loan.

Entrepreneurs can approach financial institutions directly for an MSME loan or opt for government schemes, such as PMEGP, Emergency Credit Line Guarantee Scheme, and CLSS Technology Upgradation.

However, one must ensure they satisfy the eligibility parameters before they go for MSME loan apply online.

Eligibility For MSME/SME 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.

MSME Loan/SME Loan Vs Gold Loan: A Comparative Study

Study the following table to differentiate between two loan products. 

Points of Comparison

MSME Loan

Gold Loan

Documentation

· ID Proof

· Address Proof

· Financial Documents

· Business certificates and registrations

· Memorandum of Associations (MoA), Sales Deed, Copies of License, etc.

KYC documents address proof

CIBIL Score

750 and above

Not Required

Eligibility parameters

· Business type

· Business vintage

· Investments

· Annual Turnover

An applicant shall be above 18 years of age

Loan Processing Time

Within 24 hours

Within 1 hour

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. 

Perks Of MSME/SME Loan Against Gold From Rupeek

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 0.79% 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. 

Gold Credit Line: An Overview

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.

Rupeek Ahmedabad Localities

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!

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Benefits of Gold Loan over MSME/SME loan.
Today's maximum loan value/gm **
max LTV

Last Updated :

Last Updated :

  • <1 lakh
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Comparision Parameters MSME / SME Loan Gold loan
Interest Rate 2.39% .79%
Monthly Interest Amount
Eligibility & Documentation More Documents Needed Only KYC Needed
Processing Time & Disbursement 2 days to 1 week Within a day
Required Gold Weight -
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Frequently asked questions

  1. How Rupeek gold-backed MSME loan rebate works?

We offer MSME loan subsidy on regular repayment. You are eligible for a higher rebate if you pay instalments more frequently.

  1. Can I get a gold loan along with another MSME/SME loan?

Yes, you can avail a gold loan from Rupeek alongside any other loan. 

  1. Which gold items are accepted for an MSME/SME loan?

Rupeek accepts gold ornaments with purity ranging between 18K and 24K. However, we do not accept other types of gold articles, like bars, coins, etc. 

  1. What is the tenure of a Rupeek gold loan for MSME?

The tenure of a Rupeek gold loan ranges up to 6 months. However, one can re-pledge the gold items if they wish to extend this tenure.

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