MSME loan in Bhopal

To generate more employment, the Central and MP state government have introduced several schemes to boost the MSME sector. The schemes offered are listed below-

• Coir Vikas Yojana (CVY)
• Prime Minister Employment Generation Programme (PMEGP)
• SSI Loans in MP or Small Scale Industries Loan Scheme
• Skill Upgradation and Mahila Coir Yojana (MCY)
• Market Promotion and Development Scheme (MPDA)

Besides these financing options, companies can also avail MSME loans directly from banks and NBFCs.

To avail any of these loans, business owners need to go through stringent MSME loan eligibility checks. Moreover, the loan disbursal process can take up to or even more than 10 days. This can be troublesome for businesspersons requiring immediate funds.

MSME or SME loan, being unsecured in nature, mandates borrowers to submit official papers like bank statements of the company for the last six months, income tax returns preceding two years, audited Balance Sheet and income statements, etc.

Moreover, applicants have to maintain a high CIBIL score of 750 to be eligible for an MSME loan. The interest rate offered on unsecured MSME/SME loans in Bhopal by NBFC’s are also high that significantly augments the cost of borrowing.

These hefty processes can become a burden for an entrepreneur requiring an emergency capital. In such a scenario, individuals can consider taking a gold loan that offers multiple feasible terms of service and lower interest rate.

Here is a table explaining the difference between an MSME project loan and gold loan for a better understanding. Take a look.

These differences prove a gold loan to be more lucrative and affordable than a new loan scheme for MSME.

Several financiers offer a gold loan in Bhopal. However, the terms of usage and repayment, the process of application and disbursal can vary accordingly. In this regard, Rupeek stands out with its industry-first benefits.

Following are some distinctive characteristics of Rupeek’s MSME loan/SME loan against gold. Some of our standout features include –

• Competitive Rate of Interest

Rupeek offers a low interest against gold as compared to the other NBFC’s in the market. Our interest rate begins at 0.79%, which makes the EMIs for such gold-backed MSME loan in Bhopal more affordable.

• Gold Loan Calculator

We also offer a gold loan calculator on our official site to help you to figure out the loan amount against submitted gold. For example, if you have 300 grams of gold of 20 carats, it will tell the current loan amount against it.

• Doorstep Service

We offer doorstep service to our borrowers who apply for a gold-backed MSME loan/SME loan. Our loan manager visits your address on the scheduled date for a gold valuation and KYC assessment. After evaluation, the loan amount is disbursed to the borrower’s account.

• High LTV Ratio

Businesspersons can enjoy up to 80% against their gold’s value. Individuals can get up to Rs. 1.5 crores to finance all their business expenses.

• Easy Gold Loan Overdraft

Rupeek also offers a line of credit option, where you can pledge your gold once, and withdraw funds as per convenience. You can know the details of this feature under Rupeek Quick section. Moreover, you have to repay the amount withdrawn and pay interest only on that.

• Flexible Repayment Options

Repay gold-backed MSME loan/SME loan without hassle. Opt for EMIs or pay instalments as per your convenience. It’s particularly beneficial for MSME/SME units with irregular cash flow.

Moreover, borrowers looking for a ‘gold-backed MSME loan provider near me’ in Bhopal can avail our services instantly. We operate across all the top localities in the city.

We have been successfully operating in the following localities of Bhopal. Have a look.

• Gandhi Nagar
• Bagh Swaniya
• Bairagarh
• Bhel Town
• Arera Hills
• Jahangirabad
• Vallabh Bhawan
• Kolar Road
• Chuna Bhatti
• Govindpura
• Anand Nagar
• Kohefiza

A continually developing infrastructure has made Bhopal a distinct region for MSMEs in Uttar Pradesh. That’s why the company holder must be efficient with their financing. A gold-backed MSME loan/SME loan from Rupeek can be beneficial in this regard.

Apply today for gold-backed MSME loan scheme 2020 and get a step closer to your dreams!