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MSME loan in Kadapa

Kadapa, formerly known as Cuddapah, surrounded on three sides by Palkonda and Nallamalai hills, is one of the famous cities of Andhra Pradesh. The historical aspects found in Kadapa have made the place a notable attraction point among tourists. From Anjaneya Swamy temple to Ameen Peer Dargah and Bhagavan Mahaveer Museum, this municipal city is enriched with remarkable heritage sites.

Apart from its cultural significance, Kadapa also boasts of several commercial industries pertaining to cement, textile mills, mining, etc. A wide range of micro, small and medium enterprises (MSMEs) have also made a strong presence in and around the city over the years.

Entrepreneurs in Kadapa can avail an MSME loan/SME loan to meet their cash flow needs, undertake large-scale projects, expand operations, or even kickstart their enterprise. However, before availing, one should be aware of all the features MSME loans come with to utilise its benefits deftly.

Top Features Of Msme/Sme Loans

Here is a list of MSME loan features one should know before applying:

  • Collateral Requirement

In the case of MSME loan in Kadapa, the key advantage is that individuals are not required to pledge assets. However, there are specific eligibility criteria applicants have to meet in order to avail the loan.

  • Loan Amount

For budding business owners, it is important to invest in machinery, hire staff and include better tools that eventually bring them more revenue. Getting the desired amount helps entrepreneurs in executing these plans. Individuals meeting the MSME loan eligibility can get up to Rs.1 crore as a loan to invest in their business.

  • Repayment Tenure

The AP Govt MSME scheme has made it more convenient for small business owners. The repayment tenure depends on the total amount one is applying for; however, the basic duration is from 12 months to 5 years.

Even though the eligibility requirements for an MSME loan/ SME loan are pretty basic, individuals often face difficulties regarding the documentation procedure. It usually takes several days for the loan to get sanctioned and disbursed. Therefore, relying on it for emergencies cannot be a smart option.

As an alternative, you can opt for a gold loan to avoid the long and tiresome documentation process. A gold loan mainly helps to expedite the process of gathering funds for any business-related emergency. One can consider it as another form of MSME loan scheme 2020 as the objective is similar, only with a more hassle-free process.

Why Opt For Gold Loan Over An MSME Loan?

Besides being a non-consumable asset, gold possesses a higher value than several other assets. Thus, when it comes to obtaining substantial funding, business owners can easily rely on a gold loan.

Some of the advantages of a gold loan over an MSME loan/SME loan include:

  • Since it involves pledging collateral, gold loans come with lower interest rates.
  • Unlike other loans, gold loans come with a hassle-free documentation process; therefore, one can quickly gather funds for emergencies.
  • With fast loan approval and disbursal, it becomes more convenient for business owners to acquire a sizeable amount for their business expansion.

Furthermore, individuals can make the most of these benefits by opting for Rupeek’s gold loan. Considering it an alternative for MSME loan in Kadapa has a few significant reasons. And, to understand how it works, one can voice search for ‘gold-backed MSME loan/SME loan provider near me’.

How Rupeek’s Gold Loan Helps Entrepreneurs In Kadapa?

There are several benefits business owners can enjoy with a gold-backed MSME loan/SME loan from Rupeek in Kadapa.

  • Lowest Interest Rate

Since you are submitting collateral against your gold loan, it automatically saves you from high interest rates. Additionally, with Rupeek, you can enjoy attractive interest rates that start from 0.79% per month.

  • Smooth Documentation Procedure

Get a gold loan by providing only a couple of documents. One merely needs to an ID proof and address proof for availing an MSME loan against gold from us. This makes the MSME loan procedure considerably less time-consuming.

  • Highest Per Gram Rate

With Rupeek, individuals in Kadapa can expect highest per gram rate in the market. You can also use our loan calculator in order to check the exact amount you will be receiving against the gold.

  • Doorstep Service

With Rupeek, you can expect instant service at your doorstep. Our loan manager arrives with a gold appraisal kit to evaluate the gold items. From applying for the loan to the loan getting sanctioned, the entire procedure takes up merely 40-60 minutes.

  • Overdraft Facility

Our gold overdraft facility, Rupeek Quick, allows entrepreneurs to secure a ready funding source. Borrowers can withdraw funds from the limit sanctioned against your gold’s value at any time. Additionally, it also helps the customers to get rid of excessive EMI charges since the interest rate is charged on the used amount only.

These key features can be useful for people opting for MSME loan/ SME loan. In order to make our service more accessible to local business owners, we have extended our reach to all regions in Kadapa.

Where Does Rupeek Offer Services In Cuddapah?

Here is a list of all the areas in Kadapa where you will find our services:

  • Badvel
  • Rayavaram
  • Porumamilla
  • Rayachoti
  • Ganganapalli
  • Vontimitta
  • Galiveedu
  • Rajampet
  • Cuddapah
  • Nandalur

Since our services are available all across the state, business owners from any region can avail these offers. Also, to make it more convenient, download the Rupeek app for easy access to MSME loan/SME loan in Cuddapah.

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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. Is there any partial repayment option for MSME loan against gold?

Yes, there is a ‘part release of the gold loan’ option for people who are finding it difficult to repay the total amount altogether. The amount can be anything between the monthly EMIs and less than the total due amount.

  1. What are the government MSME loan schemes in Kadapa?

There are several government schemes available for MSMEs in Kadapa, like Interest Subsidy Eligibility Scheme and Credit Guarantee Trust Fund for Micro & Small Enterprises. Besides these, usage-based plans are also available, such as CLSS for Technology Upgradation, Financial Support to MSMEs in ZED Certification Scheme.

  1. Can I pledge any gold item for an MSME loan against gold?

Our lending partners accept all kind of gold jewellery that is of 18 carats and above. 

  1. What is the procedure of repledging an existing loan?

If you wish to repledge the gold ornaments, contact our support team who will explain to you the entire process.

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