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MSME loan in Ludhiana

The largest city of Punjab, Ludhiana is primarily known for its woollen garments manufacturing. This city supplies woollen hosiery items in different parts of the world, including America and Russia. Besides, Ludhiana also took a crucial role in India’s struggle for freedom. Along with several Gurudwaras, Nehru Rose Garden and War Museum, etc. are some of its key tourist attractions.

Over the years, various industries like light engineering, bicycle manufacturing and textile have mushroomed rapidly along with traditional age-old agro-industries in Ludhiana. Numerous micro and small enterprises have also leveraged Ludhiana’s rapidly growing economy to set up base in this city. These enterprises can utilise an MSME loan/SME loan to finance their ventures and keep up with rising market demands and competition.

Purposes Of MSME Loans

It is a kind of business loan that is customised for micro, small and medium business enterprises. Several financial institutions offer MSME/SME loan in Punjab. Entrepreneurs can use the funds for the following purposes. 

  • Expanding business 
  • Hiring seasonal workers
  • Infusing working capital 
  • Financing a new product launch

Though one can use the funds to tackle any business-related expense, the higher MSME loan interest rate do not allow all business owners to leverage benefits of this credit product. Besides, lenders set strict eligibility criteria that often becomes challenging to meet.

On the other hand, while several government schemes are also available to prospective business owners, application and verification processes are cumbersome and also involve a lot of paperwork. Moreover, these processes become even more hassling for new enterprises or businesses in need of urgent funds.

In such cases, they can switch to a simpler version of loan servicing by choosing a gold loan. Because it is a secured financial product, eligibility criteria, and documentation is simpler.

Gold Loan: An Alternative Borrowing Solution

Some of the features of gold-backed finance for SME are mentioned below. 

  • No restriction on end-use 
  • Quick approval and loan disbursal
  • Simple eligibility 
  • Less documentation 
  • Reduced cost of borrowing 

On top of these features, one gets more benefits by choosing Rupeek gold loan that is readily available online and comes with perfect financial solutions. 

What Makes Rupeek Gold Loan The Best?

Following are some of the advantages of Rupeek gold loan that one can enjoy while applying for the same. 

  1. Concrete Gold Security 

We take extra care when it comes to the security aspect of the pledged gold. After getting the gold from borrowers, the loan manager places it in a GPS-traceable bag and deposits it to the nearest bank’s vault. The same procedure is repeated while returning the gold to borrowers. Besides, we also offer gold insurance free of cost for the entire tenure. 

  1. Considerable Loan Value

Entrepreneurs can avail up to 80% of their gold’s value as an MSME loan/SME loan with us. We also feature a loan calculator with which applicants can find out how much gold they need to pledge to get the required sum. 

  1. Lowest Interest Rate 

Rupeek gold loan interest rate starts from 0.79% per month, making this credit product affordable for most business owners. Individuals who are already servicing a gold loan can also opt for a loan transfer and save up to Rs.12377/lakh. 

  1. Easy Repayment Options 

We bring multiple repayment schemes for our borrowers. Borrowers can choose flexibly between a regular repayment option or payment anytime within the tenure. We also allow entrepreneurs to pay the entire amount at one go or first settle the interest and the principal afterwards.

  1. Service at Doorstep 

Get a loan for your MSME in Ludhiana at the doorstep with Rupeek. A loan manager will reach your residence within 30 minutes and initiate the MSME loan process.

  1. Credit Line 

Besides all these benefits, Rupeek borrowers are also eligible for a gold loan overdraft facility, called Rupeek Quick. By opting for this facility, individuals can avail additional funds alongside their initial principal amount. Entrepreneurs can access this amount anytime to address a range of urgent financial obligations. What’s more, one saves enormously on interest payment with this facility as it’s only calculated on the used sum.

Rupeek’s Service Areas In Ludhiana

If you are looking for substantial finance for MSME loan/SME loan in Ludhiana, Punjab, refer to the following list. We are currently extending our doorstep services in these areas. 

  1. Brown Road
  2. Ferozpur Road
  3. Gill Road
  4. Basti Jodhewal
  5. Sarabha Nagar
  6. Focal Point
  7. Shimlapuri
  8. Shivpuri
  9. Moti Nagar
  10. Basant Avenue
  11. Model Town
  12. Mundian Kalan
  13. Dhandari Kalan

With Ludhiana becoming a major financial hub in Punjab, it is all the more essential for MSMEs to ensure access to funds more efficiently. A gold loan serves as an ideal option for such growing instant financing needs.

It is also replacing the conventional small business loans for women with its easy eligibility and attractive features. Consequently, the women entrepreneurs in specific are getting fair opportunities to start their own business on a large scale. 

Place a Rupeek gold loan request now and achieve your business goal without any limit!

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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. What documents I have to provide to get a gold-backed MSME loan?

You have to present KYC documents like Aadhaar card, PAN card, address proof, etc. to be eligible for a Rupeek gold loan.

  1. What gold items can I pledge for an MSME loan from Rupeek?

We accept all types of gold jewellery of purity 18 carats or above. But, gold bars or coins are not accepted for an MSME loan/SME loan in Ludhiana.

  1. Can I apply for gold overdraft facility to buy raw material for my MSME?

Yes, you can avail this facility for any purpose. There is no spending restriction imposed on the credit line. 

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