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Lucknow is the capital of Uttar Pradesh and a major commercial centre in Northern India. The multicultural city of Lucknow has a strong association with history and is widely touted as the North Indian Cultural and Artistic hub. Places like Bada Imambara, Chhota Imambara, British Residency, Rumi Darwaza, Constantia, and Moti Mahal Palace serve as emblems of true artistry of Lucknow.
Besides its cultural heft, the Uttar Pradesh capital accounts for a significant share of UP’s MSME exports, especially for Chikan embroidery. Automotive, aeronautics and distillery chemical industries are also major contributors to Lucknow’s economy.
MSME loans are provided by financial institutions (banks and NBFCs) as well as under various MSME loan schemes by the Government. Businesspersons wondering how to get MSME loan in Uttar Pradesh must fulfil the basic eligibility parameters set by financial institutions.
Though the requirements vary with each lending institutions, the basic factors that are taken into consideration include:
MSME loan procedure involves verification of the following documents.
Basic Documents |
1. |
Identity proof |
2. |
Residence proof |
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3. |
Article of Association (AOA), Memorandum of Association (MOA), Rent agreement, Sales deed, |
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5. |
Business address and existence proof |
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Financial Documents |
1. |
Business registration proof |
2. |
Last 12 month’s bank statement |
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3. |
Proprietor(s) PAN card |
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4. |
Company PAN card |
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5. |
Partnership deed |
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6. |
Income statement and Balance Sheet (audited) |
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7. |
Municipal tax documents |
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8. |
Sales tax documents |
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9. |
Last year’s GST returns |
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10. |
ITR documents of the previous 2 years |
The above-mentioned list is generic and financial institutions may ask borrowers to provide additional documents if required.
As is apparent, it might be challenging for new and small enterprises to avail a bank loan in Lucknow owing to stringent credit score-checks and extensive documentation procedure.
Businesses can opt for government schemes to circumvent these hassles. However, unregistered MSME/SME units cannot avail the facilities offered under the MSME loan scheme 2020, such as the Emergency Credit Line Guarantee Scheme.
Even eligible enterprises may not find government schemes a smart financing choice during emergencies. That’s because these loans take more than 8 days to come through.
Entrepreneurs looking for easy, quick, and hassle-free financing, thus, can opt for MSME loans against gold.
A gold loan offers several benefits during urgent cash requirements over MSME loan in Lucknow Cantonment. The minimal paperwork associated with gold loans quickens the processing time and, hence, ensures quick disbursal.
Additionally, the secured nature of these loans helps lenders to provide the loan at a reduced rate of interest. Hence, enterprises that are yet to strengthen their financial footing can consider a gold loan.
But, the benefits of a gold-backed MSME loan don’t just end here. Companies can avail a wide range of perks with Rupeek’s gold loan, like instant disbursal, MSME loan interest rates as low as 0.79%, etc. to ensure utmost customer convenience.
At Rupeek, business persons are assured of getting the following advantages with us.
We understand the urgency of our client’s requirements, and to ensure them a hassle-free and the quick financial solution, we provide disbursal within 45-60 minutes. Unlike traditional MSME loans, which require endless documents, we only verify the KYC documents to assure a faster processing time.
During emergency cash requirements, visiting a bank branch and queuing up to apply for an MSME loan is fairly hassling. That is why to alleviate the trouble, we have introduced an instant doorstep gold loan services. Borrowers can complete all the formalities and avail loan amount up to 1.5 crores from their office’s or home’s comfort.
We offer a loan of up to Rs. 1.5 crores to entrepreneurs. Our clients can use the consumer-friendly gold loan calculator to assess the loan amount in advance and strategise accordingly.
Businesspersons no longer need to go by a strict repayment regime. Our flexible payment options allow entrepreneurs to settle the loan per their convenience, with no mandate of regular EMIs.
Enterprises with an inconsistent cash flow can leverage our overdraft facility, Rupeek Quick. Businesspersons can secure a credit line by pledging gold. They can also save a substantial amount by paying interest only on the utilised money from the sanctioned credit limit.
Businesspersons wondering where to find the above-mentioned financial services in Lucknow can avail our services from all the major areas here.
We are now operational in the following areas in Lucknow.
Apply now to get the best MSME loan/SME loan in Lucknow.
A GPS-enabled bag is used by our loan executive to transport the gold from the borrower’s residence to a bank vault within a radial distance of 5 km. Also, Rupeek provides insurance on the valuables against theft or unfortunate events during the transition from and to the client’s doorstep.
Individuals above 18 years old are eligible for availing an MSME loan against Gold with Rupeek.
You need to provide KYC documents, such as Voter ID card, Aadhaar card as identity proof and utility bills or lease agreement as address proof while applying for an MSME loan against gold with Rupeek.
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