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MSME loan in Jalandhar

The smart city of Jalandhar is known for its mythical origin and reminiscence of history. Home to nearly 20,042 small and medium industries, Jalandhar has been a major contributor to Punjab’s economy. From the outsized agriculture sector to small highway dhabas, this city is rapidly creating opportunities for micro, small and medium-scale enterprises.

Moreover, the city keeps on attracting populace with employment prospects from various parts of Punjab, especially the rural areas. This influx creates a significant market for budding and already-established enterprises.

Micro, small, and medium-scale companies based out of Jalandhar can capitalise on these opportunities better with an MSME loan/SME loan. The funds can be used to meet a variety of expenses in their company without hurting the business finances.

What Is An MSME Loan?

As the name suggests, an MSME loan is designed to cater to the funding requirements of micro, small, and medium enterprises. Both government schemes, as well as private financiers, extend this financing option. Government options include MSME loan scheme 2020, Prime Minister Employment Generation Programme, etc.

The loan tenure of this credit type depends on the lender’s policy but usually goes up to 5 years. Due to its unsecured nature, potential borrowers are required to satisfy stringent eligibility criteria.

Following are the general MSME loan eligibility necessary to be fulfilled by a potential borrower.

  • High CIBIL score (750+)
  • The entrepreneur has to show bona fide vintage of the business. It must be in operation from 6 months to 1 year.
  • One has to disclose the financial records of the company
  • Details on the business type and balance sheet
  • A remarkable credit history
  • The applicant must be aged between 25-65 years

It is recommended to check the MSME loan procedure and terms before proceeding with the application.

Apart from satisfying these parameters, a borrower needs to submit the following documents –

  • The company’s bank statements of the last six months and ITR of the two years.
  • Balance sheet and Income statements for the preceding two years assessed by CA.
  • Memorandum & Articles of Association, registration of the corporation, partnership deed, PAN card and other KYC documents.

The extensive parameter checks and documentation make the process for loan disbursal quite time-consuming. It can become a burden for an entrepreneur requiring an emergency capital.

In this regard, a gold loan can prove to be a better alternative. Individuals can avail funding against their gold articles with fewer documents.

How Can A Gold Loan Help Entrepreneurs In Jalandhar?

Instead of an unsecured MSME loan in Jalandhar, entrepreneurs can opt for gold-backed financing option to support their business. Since gold is a non-consumable asset, it can be easily leveraged to acquire funds without any impact on the enterprise’s finances.

Here are some reasons why a gold loan is the best alternative of MSME loan in Jalandhar–

  • Smooth Flow Of Cash

Businesspersons require working capital to deal with the business’s day-to-day expenses. Availing a gold-backed MSME loan/SME loan aids a borrower in dealing with liquidity issues efficiently.

  • Emergency Fund

Since this financing option does not entail extensive documentation, availing funds is relatively less time-consuming. Hence, borrowers can meet their urgent monetary requirements quickly.

  • Simpler Repayment

An MSME loan/SME loan against gold usually comes with a comparatively low interest rate. This makes borrowing of a gold-backed MSME loan for a new business more affordable.

These are the essential features that any gold loan offers. However, to enjoy further convenience, individuals can opt for a Rupeek gold loan.

Why Choose Rupeek For An Gold Loan In Jalandhar?

Following are some key features of Rupeek’s gold-backed MSME loan/SME loan. These features make us stand out from others –

  • Doorstep Service

We offer doorstep service to our borrowers who apply for a gold-backed MSME loan. Our loan manager visits your address on the scheduled date for a gold valuation and KYC assessment.

After these formalities are complete, the loan is sanctioned to you within 30 minutes. This way, you don’t have to visit a branch and waiting to meet an executive.

  • Low-Interest Rate

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 Jalandhar more affordable.

We also provide a gold loan calculator to help you to figure out the loan amount against submitted gold. For Example, if you have 200 grams of gold, it will tell the current loan amount that you can take out against the carat.

  • High-Value Loan

The loan-to-value ratio offered by us is one of the highest. It can reach up to 80%, based on the gold’s purity. Now owners running a small business in Jalandhar can avail more funding and adequately finance their business requirements.

  • Overdraft Facility Against Gold

Rupeek also offers a line of credit, 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 only the amount withdrawn, and interest will be accrued only on that sum.

  • Flexible Repayment

You can repay the outstanding amount with a single bullet payment or via EMIs. We also offer only interest payment options, and you can repay the principal later.

We understand the need for urgent funds frequently arises in any MSME. With our presence across all the top locations in Jalandhar, we ensure loan within just 60 minutes.

Rupeek’s MSME Loan In Jalandhar – Locality List

Here are the few localities where prospective borrowers can avail an MSME/SME loan in Jalandhar against gold from Rupeek

  • Jalandhar Cantt
  • Model Town
  • Phillaur
  • Dayanand Nagar
  • Goraya
  • Rama Mandi
  • Jandu Singha
  • Lajpat Nagar
  • Banga
  • Apra

So, you can finally stop scanning Google for ‘MSME loan providers near me’ and contact Rupeek to ensure a hassle-free loan disbursal experience.

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Benefits of Gold Loan over MSME/SME loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
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. Does Rupeek offer a rebate facility against SME loans?

Yes, Rupeek gives the borrowers a rebate option with regular repayments of gold-backed MSME loans. The best part is that with more frequent repayments, you can earn higher rebate.

  1. Can I avail an MSME loan in Jalandhar against gold earrings?

Yes, Rupeek only accepts gold ornaments, which include earrings.

  1. How long does Rupeek take to sanction a gold-backed MSME loan?

We have streamlined the loan disbursal process to 45 – 60 minutes. An applicant can check the total amount sanctioned after the confirmation of submitted ornaments. They can also use the loan calculator.

  1. What is the age limit to avail an MSME loan from Rupeek?

An individual must be at least 18 years to avail an MSME loan from Rupeek.

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