Popularly termed as ‘Manchester of South India,’ Coimbatore is enriched with ancient temples, architecturally pleasing tourist spots, and several manufacturing units. Surrounded by the Western Ghats, the city possesses some popular historical landmarks such as Anjeneyar Kovil, Dhyanalinga Yogic Temple, Gedee Car Museum, Patteeswarar Temple Perur, etc. For tourists, Coimbatore also stands out for some offbeat getaways to places like Munnar, Coorg, Ooty.
The city is also home to IT companies like Cognizant Technology Solutions, Tata Consultancy Services, CSS Corp, and KGISL. The eminent industrial growth has created more opportunities for micro, small and medium enterprises (MSMEs) as well. In order to expand the business to a significant level, young start-up owners in Coimbatore can consider availing a MSME loan/SME loan.
But, individuals should have a complete idea regarding the eligibility criteria and specific features before availing the loan to make the most of its benefits.
The main MSME/SME loan eligibility requirements include:
Individuals trying to avail an MSME project loan should meet these criteria in order to utilise all its benefits. Even though the criteria are pretty basic, business owners often face difficulties during the lengthy documentation process.
The main objective of MSME financing is to provide substantial support to both the young entrepreneurs and established business owners. Popular financial institutions and NBFCs provide these loans on a short- to mid-term basis so that enterprises can meet their working capital requirements as well as large-ticket expenditures.
With an MSME/SME loan in Coimbatore, individuals can expect:
These features make this financing option ideal for MSMEs in Coimbatore. However, where most micro and small enterprises stumble is the requirement for audited Balance Sheet and P&L statement. It’s an essential document when availing a loan for MSME via a government scheme or from a financial institution directly.
The processing period of government-endorsed MSME loans in Coimbatore is also considerably lengthy. In such a situation, you can choose a gold loan as an alternative.
Because it is secured by gold, lenders are more lenient with the eligibility requirements as well as documents required. Resultantly, the processing period is also short. It usually takes around a few hours to get the loan sanctioned.
However, entrepreneurs can enjoy these elementary benefits with any lender. To maximise the range of advantages one can avail, businesspersons can consider Rupeek’s MSME loan/SME loan against gold.
There are a host of compelling features you will find with Rupeek’s gold-backed MSME finance option. If the purpose is to use the fund to give an instant boost to your business, it is ideal to choose a loan option that does not involve the tedious documentation process.
Here are some noteworthy features you will find in a Rupeek gold loan:
We offer different repayment options to borrowers to make it easier to service the loan. They can choose to pay the payable amount any time during the tenure or pay the outstanding amount through monthly EMIs. Also, with Rupeek’s gold-backed MSME loan scheme 2020, getting an instant loan sanctioned has become even easier.
An advantage of a gold loan is its low interest rate since borrowers are submitting collateral against the loan. Customers can enjoy one of the lowest MSME interest rate in the market, and it starts from 0.79% per month. Therefore, expanding your business in Coimbatore has become more affordable and hassle-free.
We offer one of the highest per gram rate against the value of your gold items. Therefore, getting a sizeable amount sanctioned becomes easier with this benefit. In order to check the amount one is qualified for, individuals can also use our gold loan calculator.
Another key advantage individuals get with Rupeek is the convenient doorstep service. After receiving the loan application from the borrowers, our loan manager visits their residence with a gold appraisal kit, and the entire process of documentation procedure and receiving the amount in the account gets completed within 30 minutes.
Rupeek’s gold-backed MSME loan process is the easiest way to arrange instant funds whenever your business needs it. Additionally, with our Rupeek Quick facility, you can extend the credit line by repledging more gold. What’s more, interest will accrue only on the sum used and not sanctioned.
Since the online portal and Rupeek app is already available, individuals can easily figure out how to get MSME loan to meet urgent business-related requirements. One can easily get a doorstep loan in 30 minutes owing to our presence in and around all the top locations in Coimbatore.
In order to avail MSME/SME Loans in Coimbatore, applicants can find Rupeek’s doorstep services in these below regions:
Get a step closer to your dream with an MSME loan/SME loan from Rupeek. Enjoy instant financing against the lowest interest rates. Contact Rupeek today for further details.
The gold loan interest depends on which financial institution you are borrowing the money from. These are generally set by lenders. In order to know the entire procedure and how the interest rates will be calculated, you need to get in touch with your preferred lending institution.
Visit our online portal or submit your mobile number. A representative will contact you. Following that, our loan manager will visit your home or office with a gold appraisal kit and for KYC verification. Your loan will get sanctioned instantly after that, and you will get the funds in your account instantly.
You can collateralise gold jewellery of purity carats or above. We currently do not accept gold bars or coins.
Rupeek’s partial payment facility has made financing a lot more convenient. The part payment amount can be anything between the monthly interest and less than the total due amount. You will find the option on the ‘Repay your Loan’ page. Enter your registered mobile number and sign in with the OTP sent to your number. In order to make a partial payment, select the ‘Part-payment’ option.
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