MSME Loan in Kolkata

Kolkata, also known as Calcutta, located on the Hooghly River’s eastern bank, is the capital city of West Bengal. Once the capital of India, Kolkata has been home to many kingdoms and rulers and is widely known for its historical and cultural significance, which earned it the badge of the ‘cultural capital of India.’

Places like Victoria Memorial, Fort William, Birla Planetarium, St. Paul’s Cathedral Church, the Indian Museum, Mother House and Eden Gardens serve as the emblem of the true beauty of ‘The City of Joy’, Kolkata. 

The geographical location of Kolkata and the easy access to port has contributed to the overall economic growth of Kolkata. Apart from the voluminous agricultural production, the MSME sector of Kolkata stands as the backbone of West Bengal with more than 5.27 million MSME establishments as of 2017 (Annual Report of 2017-17 of Ministry of MSME). The growing scale of competition in Kolkata can be financially overwhelming without an MSME loan/SME loan to back the monetary undertakings.

However, enterprises should be thorough about the variegated details of this financing facility before applying for it.

MSME Loan Eligibility Criteria

An applicant must fulfil the required eligibility criteria set by financial institutions to get approval of MSME loans. However, the pointers vary with each lender and even with different schemes. The basic factors which are taken into consideration include,

  • Age: Must be between 18-66 years
  • Business Type: Private or Public limited company, sole proprietorship, partnership, and Limited Liability Partnership.
  • Business Turnover: Minimum of 25 lakhs (the amount may vary with each financial institution)
  • Business Vintage: Minimum of 2 years and in profit if it’s a private financier and at least 6 months for government schemes
  • CIBIL Score: Above or equal to 750.

MSME Loan/SME Loan Documentation

An eligible applicant must provide the following documents while applying for an SME loan in Kolkata.

  • Age proof
  • Identity proof,
  • Residence proof
  • Business address and existence proof
  • Income proof of the applicant
  • Rent agreement, Sales deed, Memorandum of Association (MOA), Article of Association (AOA)
  • Proprietor(s’) PAN card copy
  • Last 12 months’ bank statement
  • Company’s PAN card
  • Partnership deed copy
  • P&L copy and Balance sheet copy of the previous 2 years (CA audited)
  • Sales tax documents
  • Business registration proof
  • ITR documents of the previous 2 years
  • Previous year’s GST return papers
  • Municipal tax documents

Note – The list mentioned above is generic. Lenders can ask for additional documents as per their requirements and the loan type.

MSME Loan Scheme 2020

The Government of West Bengal, along with the Ministry of MSME and the Government of India, have come up with several MSME loan schemes to propel this sector’s growth, create business opportunities, and generate employment. Some of the SME loan schemes are discussed below.

MSME Schemes

About the Scheme

Mudra (Mudra stands for Micro Units Development and Refinancing Agency) loan

Launched to provide support to non-corporate MSME units, it is broadly classified into three categories, namely Shishu, Kishor, and Tarun loans.

Loan amount: up to 10 lakhs.

CGTMSE (Credit Guarantee Funds Trust for Micro and Small Enterprise)

Launched to provide credit facility to existing and new small and micro-scale companies.

Loan amount: up to 1 crore.

PMEGP (Prime Minister’s Employment Generate Program)

Launched in 2008, this scheme focuses on generating business opportunities for the unemployed youth of the country.

It is an integrated subsidy program linked with two other schemes, namely Pradhan Mantri Rojgar Yojana (PMRY) and Rural Employment Generation Program (REGP).

Businesspersons or individuals or entrepreneurs can avail MSME loan/SME loan from financial institutions, including banks and NBFCs, as well as from the government, under various loan schemes. However, both these sources have certain drawbacks. Banks and NBFCs grant these loans at a higher cost and demand a credit score of 750+ due to the unsecured nature of the loan. On the other hand, the extensive documentation in case of availing government loan schemes prolongs the MSME loan process by 8-10 days. 

Moreover, unregistered MSME enterprises fail to get the advantages offered through the new loan scheme MSME. In cases like this, where entrepreneurs, business owners are looking for alternatives, MSME loan against gold proves to be extremely beneficial.

Gold Loan As An Alternative

The benefits of availing gold loans are numerous. Due to the minimal paperwork and relaxed eligibility criteria of gold loans, businesspersons can get access to quick funding (less than an hour) during urgency and maintain both their work and cash flow.

Moreover, the cost of borrowing is low in this case because the funds are backed by gold. This is particularly beneficial for enterprises still finding their financial footing.

The multitudinous benefits of an MSME loan/SME loan make this financing option ideal for enterprises of all sizes. What’s more, with Rupeek, entrepreneurs get to avail funds right at their doorstep. MSMEs can enjoy several other business-friendly benefits with us, like substantial loan amount, affordable interest rates that make us stand out.

Merits Of MSME Loan Against Gold With Rupeek

Businesspersons, individuals, and entrepreneurs can avail highest benefits with Rupeek as all our facilities and schemes are tailored to provide borrowers maximum convenience. Take a look –

  • Service at Doorstep

To make the entire gold loan process hassle-free and convenient, we at Rupeek have come up with an instant doorstep gold loan services. Individuals looking for an SME loan can easily apply for a gold-backed business loan in Kolkata with us. After that, our executives will assuredly reach the client’s house within 30 minutes and complete all the formalities there.

  • Instant Disbursal

Availing MSME loans have never been easier. With Rupeek, businesspersons can enjoy quick disbursal of funds up to Rs. 1.5 crores. The minimal documentation process involving only KYC verification has allowed us to streamline the processing time and provide a financial solution to the business people in need.

  • Competitive Interest Rate

Unlike traditional unsecured MSME loans, our secured MSME loan against gold comes with a lower interest rate. Entrepreneurs can avail of business loan in Kolkata at a starting interest rate of 0.49% per month. The lower interest rate helps borrowers to manage repayment efficiently. 

  • High Loan-to-Value Ratio

Loan to Value ratio refers to the amount individuals get against the pledged gold. With us, individuals can get LTV up to 80%. Also, by using our gold loan calculator, business persons can evaluate the loan amount beforehand and plan their finances accordingly.

  • Easy Repayment

With an easy repayment facility at Rupeek, business persons can repay the loan amount as per their suitability. To be precise, borrowers can opt for monthly instalments, or they can choose to pay at a single bullet payment any time within the 6 months loan tenure. 

  • Gold Overdraft Facility

During frequent or urgent cash requirements, individuals can opt for one of the most consumer-friendly facilities of Rupeek, i.e., Rupeek Quick. Borrowers can secure a credit line by pledging their gold through this facility. On top of that, borrowers can save a considerable amount by only paying interest on the expended amount from that credit limit.

We at Rupeek have always aimed to build maximum reach among the MSME/SME business enterprises across India as well as in Kolkata.

Rupeek’s Presence In Kolkata

Businesspersons can opt for our 30-minutes doorstep service from all the major locations in Kolkata, including but not limited to:

  • Jadavpur
  • Baghajatin
  • Dum Dum
  • Baranagar
  • Park street
  • Taltala
  • Kalighat
  • Esplanade
  • Tollygunge
  • Ganesh Chunder Avenue
  • Park circus
  • Ballygunge
  • Behala
  • Hastings
  • Dharmatala
  • College Square

Give your micro, small and medium enterprises the necessary boost with the quick financial solution available at Rupeek. To get the best MSME loan/SME loan in Kolkata, Click apply now!

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Benefits of Gold Loan over MSME/SME loan.
max LTV

We offer the highest per gram rate on our gold loans.

Today’s max loan value/gm () **

Today’s max loan value/gm ()
  • <1 lakh
  • 2 lakh
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  • 5 lakh
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  • 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 CIBIL score a mandatory for an MSME loan against gold?

No, the CIBIL score is not a mandatory pointer to get an MSME loan against gold with Rupeek.

  1. What should I check before getting a gold-backed MSME loan/SME loan?

Look for the factors like application charges and fees, interest rate, LTV, repayment schemes, and gold’s safety measures while applying for an MSME loan against gold.

  1. How to apply for an MSME loan with Rupeek?

Request a loan via Rupeek’s website, download the app, or dial 08068186818. Get KYC verified and gold evaluated with our company representative. You will get the funds in your account thereafter.

  1. How can I repay a gold-backed MSME loan with Rupeek?

Log in to the gold payment app or portal with the OTP sent to your registered phone number. View the payment summary and proceed to complete the payment.

  1. What is the process of re-pledging an ongoing loan?

If any individual wants to continue an existing loan and re-pledge the gold jewellery, they need to contact our customer support team. The team will guide through the process. 

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