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In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

MSME loan in Lucknow

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 Loan/SME Loan Eligibility

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:

  • Age of the applicant should be between 18 – 66 years old.
  • An applicant must have a credit score of 750+.
  • An applicant should boast a good repayment history.
  • Minimum annual turnover of the enterprise must be Rs. 25 lakhs or above.
  • The enterprise must have a business vintage of a minimum of 2 years and in profit.

MSME Loan/SME Loan Documentation

MSME loan procedure involves verification of the following documents.

Basic Documents

1.

Identity proof

2.

Residence proof

3.

Article of Association (AOA), Memorandum of Association (MOA), Rent agreement, Sales deed,

5.

Business address and existence proof

 Financial Documents

1.

Business registration proof

2.

Last 12 month’s bank statement

3.

Proprietor(s) PAN card

4.

Company PAN card

5.

Partnership deed

6.

Income statement and Balance Sheet (audited)

7.

Municipal tax documents 

8.

Sales tax documents

9.

Last year’s GST returns

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.

Gold Loan Vis-À-Vis MSME Loan/SME Loan

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.

Benefits Of Availing An MSME Loan/SME Loan In Calcutta With Rupeek

At Rupeek, business persons are assured of getting the following advantages with us.

  • Quick Disbursal

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.

  • Doorstep Loan

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.

  • Sizeable MSME Loan/SME Loan

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.

  • Easy Repayment

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.

  • Gold Credit Line

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.

Availability Of Rupeek In Lucknow

We are now operational in the following areas in Lucknow.

  • Raibareli Rd
  • Mubarakpur
  • Lucknow chowk
  • Gomti Nagar
  • Alambagh
  • Charbagh
  • Cimap
  • Qaisar Bagh
  • Indira Nagar
  • Mohanlalganj
  • Jankipuram

Apply now to get the best MSME loan/SME loan in Lucknow.

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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 Rupeek ensures gold’s safety pledged for an MSME loan/SME loan?

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.

  1. What are the eligibility criteria for an MSME loan against gold with Rupeek?

Individuals above 18 years old are eligible for availing an MSME loan against Gold with Rupeek.

  1. What documents do I need for an MSME loan against gold in Lucknow?

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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