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MSME loan in Kakinada

Kakinada, formerly known as Cocanada, is a seaport in Andhra Pradesh. The district headquarters of East Godavari is a significant contributor to the Indian economy with its export of coconuts, cotton, sugar and groundnuts.

As a city on the heels of development, Kakinada offers numerous opportunities to small and micro-scale businesses. Entrepreneurs can capitalise on these with an MSME loan/SME loan in East Godavari.

What Are The Features Of An MSME/SME Loan?

MSMEs can avail financing through two means – government schemes and commercial banks. Entrepreneurs can check which banks offer this financing option by searching for ‘MSME loan providers near me’.

Nevertheless, loans offered under government schemes usually entail a low interest charge but involve hefty documentation. That’s why government-backed loans take more than 8 days to come through.

Disbursal of a business loan in Kakinada offered by banks is comparatively faster. Moreover, enterprises don’t need to collateralise any business asset to avail funds. However, interest rates are higher for that reason. Plus, applicants need to have a credit score of 750 or higher, submit audited financial documents, which make the process cumbersome and prevents new enterprises from acquiring funds.

Thus, individuals can consider a gold loan over a conventional MSME loan to meet their business requirements effortlessly. 

Why Choose Gold Loan Instead Of MSME/SME Loans?

In comparison to an MSME loan/SME loan in East Godavari, a gold loan can be flexible and better borrowing option. Here’s why!

  • Nominal Documentation

A gold loan cuts the extensive course of disbursal and dispensation time with minimum eligibility and documentation. Unlike an MSME/SME loan in Kakinada, a secured gold loan is convenient and borrower-friendly.

  • Unrestricted Usage

Setting up a business comes with copious expenses that can be thorny without a steady cash flow. In this regard, the sanctioned amount against gold can be utilised for purchasing equipment, development, salary payment etc. A gold loan can act as an emergency instant business loan source.

  • No Credit Score Required

Applicants without a CIBIL score of 750 need to put their financial needs on hold. Gold loan lenders do not check an applicant’s credit score to determine their eligibility.

Besides these benefits, if you are looking for an NBFC offering low-interest rates in Kakinada on gold loan, Rupeek is the financier to consider.

Rupeek - The Trusted Gold Loan Lender

Some of the reasons to contact us today for a new loan scheme for MSME are mentioned below.

  • Highest Loan To Value

LTV is the percentage of the promised asset or gold’s total value that a borrower can avail as a loan. We offer up to 80% of the pledged gold’s value as loan. Through Rupeek, you can avail a gold-backed MSME loan/SME loan as high as Rs. 1.5 crores.

  • Doorstep Loan

Enjoy instant doorstep services with Rupeek. After your application, a loan manager reaches your residence or office for gold appraisal and KYC verification, and the loan is disbursed instantly after that.

  • Swift Application

You can easily avail this loan by applying through Rupeek’s app or the official website. Our online application process is user-friendly, and only a matter of minutes.

  • Gold Overdraft Facility

Access funds round the clock and meet all cash shortfalls instantly with our gold overdraft facility. Avail a credit line against gold and take out funds as and when you need up to the sanctioned limit. What’s more, pay interest only on the utilised sum.

  • Easy Repayment Options

We offer several repayment schemes to suit your convenience. Repay through regular EMIs or settle the repayable amount in instalments of your choice anytime during the tenure.

No matter where you stay in Kakinada, East Godavari, you can avail our services. Our company representatives are present across all the major localities in the city.

Find Rupeek In These Localities

Are you looking for gold-backed MSME loan scheme 2020 in Kakinada? You can find our service in the nearest localities. Here’s a list -

  • Valasapakala
  • Rameswaram
  • Sarpavaram Junction
  • Vakalapudi
  • Indrapalem
  • Thimmapuram
  • Bhanugudi Junction
  • Gandhi Nagar
  • Madhavapatnam
  • Ramanayyapeta
  • Sri Nagar

Don’t let liquidity issues bother its growth. With our flexible repayment structure, your worries about outstanding balance can rest assured.

Witness your dream business take shape with the successful collaboration of your hard work and Rupeek’s gold-backed MSME loan/SME loan. Here’s to making dreams come true!

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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. How quickly does Rupeek disburse an MSME loan/SME loan against gold?

We offer instant disbursal of the funds after KYC verification, gold appraisal, and loan agreement signing. This entire process takes around 30 minutes.

  1. How do I check the SME loan amount against my gold jewellery?

You can use our gold loan calculator. If you already know the amount you want to avail, enter it to know the quantity of gold you need to pledge. Otherwise, you can input the gold quantity to view the loan amount you can avail.

  1. What is the interest rate for gold-backed MSME loan?

The applicable interest rate depends on the scheme you choose. Monthly interest rates start from as low as 0.79%.

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