Kanyakumari or Cape Comorin is the last point of the Indian mainland, and one of the most popular tourist destinations of this country. It attracts a large footfall every year owing to the renowned Vivekananda Rock and Thiruvalluvar Statue.
Tourism is one of the primary drivers of this district’s economy. Coir-making, manufacturing of surgical gloves, food processing, floral trade, and lace-making are also fairly prominent in Nagercoil, Kanyakumari. Several enterprises have emerged in this district over the years. These organisations can avail an MSME loan/SME loan to carry forward their financial objectives or expand into other cities and districts.
Companies need to be registered with the Udyog Aadhaar Memorandum to be eligible for government-backed MSME/SME financing schemes, like UYEGP. The specific criteria can differ based on the scheme.
Entrepreneurs can borrow funds directly from banks and NBFCs as well. While lender-specific parameters shall vary, MSME/SME units generally need to meet the following MSME loan eligibility criteria –
Fulfilling the MSME loan eligibility is not enough. One needs to submit the necessary documents to complete this process. Here are the details –
Such stringent guideline associated with an MSME loan online can prove to be difficult for some individuals to comply with. In such cases, they can opt for a gold loan as an alternative.
Because a gold loan is secured, lenders are less rigid with eligibility and documents. Plus, the repayment burden is much lower with a gold loan owing to the same reason.
Thus, a gold loan helps entrepreneurs to meet their business requirements without going through all the hassle of an MSME loan/SME loan.
Moreover, the lack of usage restriction helps business owners to use their gold-backed MSME project loan for a wide range of purposes. Here are some common examples –
The flexibility of usage and other benefits make gold loans a worthy alternative of an MSME loan. Entrepreneurs can enjoy further business-friendly advantages with a gold loan offered by Rupeek.
Here are a few standout characteristics of Rupeek –
But, any budding enterprise needs access to sufficient funds at all points. An MSME loan/SME loan may not suffice to that end. We have a solution for that with our overdraft facility against gold, Rupeek Quick.
Rupeek’s existing customers can pledge additional gold to avail an extended credit line through this facility. It offers access to instant funds, and borrowers can withdraw funds as per their need. Moreover, individuals only pay interest on the amount they’ve withdrawn, ensuring further savings.
Our doorstep service further enhances the convenience of choosing Rupeek as your lending partner. Our presence in top localities of Kanyakumari allows us to visit your address in 30 minutes.
An MSME loan/SME loan is designed to help business owners to grow their ventures. However, the associated norms often make it difficult for individuals to avail funds. In such cases, gold loans offer an excellent alternative option, and with Rupeek, entrepreneurs can now avail an emergency business loan at their doorstep in just 60 minutes.
Conclude your search for ‘MSME loan providers near me’ and contact Rupeek for a fair, fast, and flexible solution.
Tamil Nadu Industrial Investment Corporation or TICC is a company operating under the state government of Tamil Nadu. It offers long and medium-term loans to various small and medium scale industries. Established in 1949, it has played a vital role in the development of the MSME sector in this state.
Visit the official website and register your mobile number to initiate a loan request. Following that, a company representative will contact you for further processing.
After that, a loan manager will visit your address for KYC verification and evaluation of gold ornaments. You will get the funds in your account instantly thereafter.
You can find the part prepayment option in the ‘Repay Your Loan’ portal. The amount you prepay shall be lower than the sum of foreclosure but higher than the monthly interest payable.
No, our lending partners only accept gold ornaments for this purpose.
Your request has been received, our customer relationship manager has been notified and will call you shortly