MSME Loan in Howrah

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 mainly consist of medium, small and micro enterprises

These businesses can consider opting for additional credit such as MSME loan/SME loan in Howrah to expand their operations further.

What Are MSME/SME Loans?

SME loan Howrah is a type of unsecured credit offered to small, medium and micro-enterprises to meet various business costs quickly. These include purchasing raw materials, inventory, meeting working capital shortfalls, managing business cash flow, etc.

It’s imperative to check the eligibility criteria when searching for ‘MSME loan lenders near me’ before applying.

Who Is Eligible For An SME Loan In West Bengal?

To initiate the MSME loan procedure, businesses are required to meet specific parameters such as – 

  • Applicants must own a business that has been operating for a minimum of two years or more.
  • They should maintain a CIBIL score of 750 or above
  • Income tax and GST returns should have been filed for the last two years

Apart from the ones mentioned here, business loan provider in Howrah may require borrowers to satisfy additional criteria.

Besides fulfilling eligibility requirements, applicants must submit the following documents to get approval for MSME loans:

Type of Document


Applicant’s Proof of Address

Passport, driver’s license, or other government-issued address proofs

Proof of Identity

Aadhaar card, PAN card, etc.

Business Address Proof

Rental agreement, utility bills, etc.

Proof of Business Ownership

Partnership deed for partnership firm, Memorandum of Association for companies, trade license for sole proprietorship business, and more

Income-related Documents

Last 6 months’ bank account statement and audited financial statements, such as profit and loss accounts and balance sheets

Tax Documents

Sales tax returns and income tax returns or ITRs

In addition to these, there might be some lender-specific requirements that applicants have to fulfil.

What Are The Features Of MSME Loans/SME Loans In Howrah?

Here are some of the features of an MSME/SME loan:

  • Collateral-free Loan: This is an unsecured credit option. Thus, individuals do not have to pledge any property as collateral to avail this form of financial assistance. 
  • High Interest Rates: Unsecured business loan interest rates in Howrah can be considerably high due to the significant intrinsic risk. Usually, interest rates can be anywhere between 8% and 22%. However, it depends on the MSME loan provider.
  • Flexible Tenure: MSME loan tenures can range from 12 months - 180 months. It’s premised on the policy of the lender and the credit profile of borrowers.
  • Loan Amount: Business owners can access funds worth up to Rs. 50 lakhs by availing an MSME/SME loan.

How Can An MSME Loan Help?

Businesspersons can avail MSME loans to fulfil various financial requirements of a business. Some of these are mentioned below:

  • Recruit Staff

Human resources are an integral part of any organisation, and the right personnel can be instrumental to its success. However, the hiring process can be a burden for an already cash-strapped enterprise to bear at once. In this regard, enterprises can consider an MSME loan/SME loan in Howrah to defray costs related to the same and optimise their human resources.

  • Working Capital Management

All businesses, irrespective of their scale of operations, have to ensure efficient working capital management. Without adequate funds, any organisation will fail to maintain the smooth flow of daily operations. Hence, if businesspersons realise a shortage of working capital, they can avail an MSME loan in Howrah to fill the cash flow gaps and finance day-to-day expenses.

  • Finance Marketing Expenses

Any business requires an effective marketing strategy to reach its target audience and increase sales. Moreover, enterprises can strengthen the loyalty of existing customers through an efficient marketing campaign. Without proper advertising or brand awareness programs, businesses will not be able to reach the target audience and maximise conversions. Nevertheless, running a marketing campaign online or offline requires a substantial amount of capital. However, they can raise funds instantly and start their marketing campaign by opting for an MSME/SME loan.

  • Expand Operations

Opening a new branch or factory can be a challenge for small-scale enterprises. MSME West Bengal can utilise an unsecured business loan to open a new facility. They can also use the additional capital to introduce a new product line or attract new customers by diversifying their inventory.

Although MSME loans/SME loans in Howrah come with these benefits, meeting the stringent eligibility criteria and completing the lengthy documentation process can be tedious. As an alternative, businesses can opt for Rupeek’s gold loan. Unlike MSME loans, this form of financial assistance involves lenient eligibility parameters and minimal documentation.

One can avail our doorstep gold loan if they are resident of the following areas in Howrah:

  • Alampur
  • Argari
  • Bandel
  • Bankra
  • Kalara
  • Chakpara
  • Mahiari
  • Tentulkuli
  • Eksara
  • Karia

Thus, small industries can opt for a gold-backed MSME loan/SME loan in Howrah from Rupeek to avail substantial funding within a short time. Apart from Howrah, applicants from other West Bengal districts can also avail financial assistance without any hassle from us to meet their requirements.

Apply today to get the highest value for your gold with Rupeek!

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Benefits of Gold Loan over MSME/SME loan.
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We offer the highest per gram rate on our gold loans.

Today’s max loan value/gm () **

Today’s max loan value/gm ()
  • <1 lakh
  • 2 lakh
  • 3 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 to calculate MSME loan EMIs?

Borrowers can compute EMIs efficiently for free using an MSME loan/business loan EMI calculator, which can be found on the lender’s website. A person needs to input the principal, tenure merely, and interest rate to calculate the estimated EMIs.

  1. Will my credit score get impacted if I delay MEMSE loan repayment?

Yes, delaying MSME loan repayments will have a significant impact on your CIBIL score.

  1. Which sectors fall under the MSME category?

The MSME category includes micro, small, and medium enterprises that belong to the manufacturing and services sectors in India, further defined by their annual turnover and investment.

  1. How to get an MSME loan in Howrah?

Individuals can start the MSME loan process by applying via the financial institution’s online portal. As an alternative, they can choose to visit the branch of the lending institution. You can search ‘business loan provider near me to see the available options at your nearest locations.

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