The district of Howrah came into prominence with the introduction of Railways in the year 1854. There are several important landmarks in this district starting from the iconic Howrah Bridge to Botanical gardens, Santragachi Lake, Rail Museum, and Belur Math.
Howrah also has a large concentration of industries such as consumer goods industries, shipbuilding, engineering, steel fabrication, industrial electrical goods manufacturing and the like. These industries mostly consist of medium, small and micro enterprises
These businesses can consider opting for additional credit such as MSME loan/SME loan to expand their operations further.
MSME loan is a type of unsecured credit offered to small, medium and micro-enterprises so that they can meet various business costs quickly. These include purchase of raw materials, inventory, meeting working capital shortfalls, managing business cash flow, etc.
But, it’s imperative to check the eligibility criteria when searching for ‘MSME loan lenders near me’ before applying.
To avail an MSME loan, businesses are required to meet specific parameters such as –
Apart from the ones mentioned here, business loan provider in Howrah may require borrowers to satisfy additional criteria.
Therefore, small businesses may find it challenging to qualify for an MSME loan. Hence, they can opt for alternative funding options such as gold loans.
Given below are some of the reasons why businesses should opt for a loan against gold as compared to a business loan in Howrah -
Since the loan is secured by gold, which is a highly liquid asset, lenders can quickly recover the amount, in case the borrower defaults. Therefore, prospective applicants do not need to submit an extensive list of documents to qualify for a gold loan. In most cases, lenders only ask for KYC documents such as Voter ID card, PAN, Aadhaar during gold-backed MSME loan process.
Lending institutions refer to an applicant’s CIBIL score to ascertain their creditworthiness for unsecured credits like MSME loan. On the other hand, the credit score is not as essential in case of gold loans as the credit amount is secured against gold.
In the case of gold loans, there are no restrictions in end-use. Hence, borrowers can use the loan amount to meet various business-related expenses, such as rent, salaries of employees, purchase of raw materials, etc.
However, borrowers need to take into account several factors, such as repayment schemes, interest rates, security features, etc. To that end, one can consider opting for a gold loan from Rupeek.
Here are some of the reasons why you should consider availing a gold loan in Howrah with us –
Business loan interest rates in Howrah are relatively high since they are unsecured. On the other hand, when prospective borrowers apply for a loan against gold with us, they can avail affordable interest rates starting from 0.79% per month. It reduces their interest payment burden and enables them to meet all business and personal financial needs with ease.
Rupeek extends robust security measures to ensure the safety of your valuables. For instance, the gold items are placed in a GPS-enabled container, which enables borrowers to track their location easily.
The gold articles and ornaments are placed in a military-grade vault with a partner bank of Rupeek that is within a 5 km radius of borrower’s house for optimum security.
With Rupeek, borrowers can avail instant online gold loan at their doorstep. A loan manager will arrive at the address provided by the applicant within 30 minutes of application. Furthermore, the overall loan disbursal process will take around 60 minutes.
When applying for a loan against gold with us, borrowers can also opt for our gold overdraft facility known as Rupeek Quick. This facility enables borrowers to withdraw as much credit as required within the available limit.
We are also available at several prominent locations in Howrah, thus, making it easier for prospective borrowers to opt for a gold loan from us.
Our Gold loan services can be availed in the following areas –
Thus, small industries in Howrah can opt for a gold loan from Rupeek to avail substantial funding within a short time. Apart from Howrah, applicants from other districts of West Bengal can also avail hassle-free MSME loan/SME loan from us to meet their financial requirements.
Apply today to get the highest value for your gold with Rupeek!
Currently, Rupeek only offers loan to borrowers against gold ornaments. One cannot avail loan against gold items such as bars, coins etc. Furthermore, the ornaments that are being offered as collateral should be 18 carats and above.
Rupeek mainly offers two types of repayment methods. Borrowers can either consider opting for the traditional EMI system or carry out a bullet payment within the repayment tenure.
Borrowers can get up to 80% of their gold’s value with Rupeek. The loan sum can go up to Rs.1.5 crores.
You can get an MSME loan in Howrah by approaching banks and NBFCs. There are government schemes as well that you can consider. It’s also possible to avail an MSME loan/SME loan by pledging gold.
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