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MSME loan in Kochi

Kochi is the largest metropolitan city in Kerala and is often referred by its district’s name, Ernakulum. The city is also known as the commercial, industrial, and financial hub of Kerala with the highest GDP in the entire state. Several prominent tech-companies are situated here such as V-Guard and TELK, contributing heavily to its overall economic development.

While the established companies can easily finance their operations, organisations in their nascent stages often face working capital shortfalls due to lengthy cash cycles. These establishments can consider an MSME loan/SME loan in Kochi to finance their operations.

Why An MSME Loan In Kochi?

Any SME/MSME in Kerala wanting to make it big in Kochi has to rely on debt financing alongside equity capital. An MSME loan caters to the financial needs of these organisations. There are several government-backed schemes enterprises can avail, like PMEGP, Coir Vikas Yojana, and CLSS for Technology Upgradation.

However, these schemes might not be that beneficial to companies in dire need of funds because of the prolonged disbursal period. Small-scale industries in Kerala can approach a bank/NBFC to avail funds in that case since disbursal is comparatively faster.

But, private lending institutions have their own set of shortcomings. Companies ought to be thoroughly aware of these issues before applying.

What Are The Downsides Of Bank Loans In Kochi?

Although the specific features of lending institutions vary, there are a few common disadvantages of an MSME loan/SME loan offered by banks and NBFCs.

  1. Stringent Documentation And Eligibility

Financial institutions ask for audited financial documents, projections of business revenues, alongside a slew of other documents. Moreover, the applicant must have a CIBIL score of 750 or above, the business vintage should be 2 years or more, and the enterprise must boast an annual turnover of Rs. 25 lakhs or higher. Thus, it becomes difficult for new enterprises to avail funding in Kochi from private financiers.

  1. Extremely Long Repayment Tenure

A business owner has several responsibilities on their shoulders. Paying a monthly instalment for years can become an added burden in that respect.

  1. High Rates Of Interest

SME loan interest rates are considerably high because they are not secured by collateral. Organisations without a significant cash inflow can, thus, find it challenging to service an MSME loan in Kochi.

Hence, it may be wise to switch your search from ‘MSME loan providers near me’ to a gold loan. A gold loan enables entrepreneurs to circumvent these shortcomings while ensuring optimal financial support.

Why Gold Loan?

It is a form of secured financial product where a borrower can pledge their gold jewellery to avail a loan. This type of loan, especially if you opt for it from Rupeek, is a far better alternative compared to an MSME loan/SME loan in Kochi. Some of its best aspects are:

  • End-Use Liberty – Unlike certain government-backed MSME/SME loans, a gold loan does not come with any end-use restriction, providing full control in your hand.
  • Best Use of Idle Asset – Gold, though valuable, does not provide any substantial aid on a day-to-day basis. Instead, by pledging it, you can get a significant capital to invest in your business.

Though a gold-backed loan is highly beneficial in general, what makes our facility unique is our array of added benefits that we offer to our customers.

What Sets Rupeek Apart?

Here are the top benefits that entrepreneurs can avail with our gold loan –

  1. Substantial Quantum

Funding requirements vary across industries. Entrepreneurs can avail funds, ranging from Rs. 15000 to Rs. 1.5 crores with us. With our highest per gram rate, individuals get the maximum value against their gold ornaments.

  1. Minimal Repayment Burden

Though it is expected of a secured credit product to have low interest rates, we have further lowered it to 0.79% per month. This way, repayment will not become a burden to our customers.

  1. Lenient Documentation And Eligibility

A business owner, as young as 18 years old, can avail our gold-backed loan with just their KYC documents. No CIBIL score is required. Hence, even a small-scale business in Kochi can also avail a gold loan.

  1. Access To Credit Line

Existing customers can also get an extended credit line against gold. It does not require any documentation. You can avail funds anytime per your requirement from the sanctioned limit. Save on repayment as well with interest computed only on the used amount.

Avail our services from anywhere in Kochi within just 30 minutes. Whether it’s your residence or office, our loan executive will reach you instantly.

Where To Avail Rupeek’s Services In Kochi?

The areas in Kochi where we are operational are,

  • Perumbavoor
  • Infoparkkochi
  • Kalamassery
  • Kakkanad
  • Aluva
  • Willingdon Island
  • Muvattupuzha
  • Tripunithura
  • Mattancherry
  • Airport Road
  • Palarivattom
  • Kumbalangi

With our doorstep loan service, our representative visits your home or office to complete the entire loan process. Get an MSME loan/SME loan against gold from Rupeek with just a few clicks.

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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. Can I repay MSME loan against gold partially?

Yes, we offer part prepayment facility. Visit the ‘Repay Your Loan’ portal on our website and view the part prepayment option there.

  1. How to apply for government schemes for MSMEs?

You can apply for government schemes if you are registered under the Udyog Aadhaar Memorandum.

  1. How Rupeek guarantees gold’s safety pledged for an MSME loan/SME loan?

Rupeek follows a three-point security protocol. Our loan representative leaves your home or office with the gold only after you receive the funds. It’s carried in a GPS-traceable bag to a partner bank vault within a radial distance of 5 kms. You also enjoy complimentary gold insurance for the entire tenure.

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