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MSME loan in Noida

Noida recently has overridden Kanpur to become the economic capital of Uttar Pradesh. This exponential rise can be attributed to the steady growth of the IT sector and the services allied to this sector. Places like Yamuna Expressway, Greater Noida are also proposed to become the electronic zone in the near future, as Government statement concludes. 

Along with large enterprises, several small businesses also have emerged over the years. These small businesses can opt for an MSME loan/SME loan in Noida to expand their business and stand out in the competitive market.

An Overview Of MSME Loan

Micro, small, and medium enterprises can avail an MSME loan under a government scheme or directly approach a bank or NBFC. Depending on the source, the features of this financing option can differ.

Usually, government loans come with funding up to Rs. 1 crore. Per the scheme, the loan may or may not entail end-use limitation. For instance, a machinery loan availed under CLSS for Technology Upgradation scheme is solely meant for buying or upgrading equipment.

However, one may need to offer collateral, and the documentation process is often time-consuming.

On the other hand, most bank loans share a few common features like end-use liberty, tenure up to 5 years, and no collateral required. Hence, businesses can use this loan for various reasons, like –

  • Supplementing cash flow
  • Finance business expansion
  • Purchase machinery
  • Hire employees
  • Pay for overhead expenses
  • Buy raw material and others.

Irrespective of the purpose of the fund, however, the eligibility and MSME loan procedure are complicated. Therefore, prospective borrowers need to know these aspects beforehand.

MSME Loan Eligibility

In order to apply, individuals must first meet the following criteria.

Particulars

Requirements

Business type

Partnership, sole proprietorship, a private and public limited company (must comply with the definition of MSME prescribed by MSME Act, 2006)

Business vintage

6 months – 1 year (Government schemes)

3 months to 3 years (NBFCs and banks)

Investments

1. Less than Rs. 1 crore (micro)

2. Less than Rs. 10 crores (small)

3. Lower than Rs. 20 crores (medium)

Turnover

1. Less than Rs.5 crore (micro)

2. Lower than Rs.50 crore (small)

3. Less than Rs.100 crore (medium)

Documents

· KYC documents

· Address proof

· Address proof of business establishment

· Audited documents pertinent to the company’s financial records

· Revenue projections

· Estimated turnover

· Bank account details of last 6 months

· Business registration and certificates

· Income Tax documents

Credit score

750 and above

Nevertheless, the eligibility may vary with different lenders; therefore, it will be wiser to check those when searching for ‘MSME loan/SME loan providers near me’. Besides, small business loan interest rate in Noida is also on the higher side that discourage many business owners from taking this credit option.

They can, however, solve these issues by availing a gold loan that comes with a gamut of benefits.

How Is Gold Loan Better Than An MSME Loan/SME Loan?

Since MSME loan is unsecured credit, lender set stringent eligibility that not all business owners can fulfil. In such a scenario, a gold loan can prove to be a better alternative, primarily based on the following factors.

  • A credit score is not required
  • No limitation on end usage
  • Minimal documentation
  • Fast approval and disbursal
  • No need to provide business plans documents

An MSME Uttar Pradesh can also maximise the benefits further while they opt for a Rupeek gold loan. It also comes handy for budding entrepreneurs as they do not have to go through any additional eligibility check.

On the other hand, women entrepreneurs can also give wings to their business ideas just by pledging the gold articles that they possess.

Why Rupeek For An MSME Loan/SME Loan In Noida?

Following are some of the striking features of Rupeek gold loan that makes it one of the most sought-after borrowing options available to small business owners.

  • We offer an LTV of up to 80% so that borrowers with sufficient gold can avail MSME financing as high as Rs.1.5 crore. Before applying for this gold, prospective borrowers also can check the amount of gold that they need to pledge to get the fund required by using our loan calculator.
  • Rupeek gold loan interest rate starts from as low as 0.79% monthly. It facilitates an easy interest payment as well as the principal amount.
  • We also have a dedicated doorstep service that ensures borrowers can avail the loan from the comfort of their home. They can opt for an instant online gold loan at their doorstep just by applying for the same. Our manager will arrive at their address within 30 minutes and initiate the loan processing that involves KYC verification, loan valuation, approval and disbursal. The entire process takes up approximately 60 minutes.
  • We also have flexible repayment schemes that borrowers can choose by determining their financial capabilities.

Besides, Rupeek also extends another unique facility, loan overdraft, which borrowers can avail while they face any short-term financial emergency. 

What Is The Gold Overdraft Facility?

Access funds from anywhere at any time with Rupeek’s overdraft facility against gold. Customers can get a credit line by pledging additional gold to streamline their cash flow.

Known as Rupeek Quick, this facility also helps in reducing the interest component as it is charged only on the spent amount.

Rupeek’s MSME Loan/SME Loan – From Where To Avail?

Business owners living in and around the following places in Noida can request for our doorstep services.

  1. Dadri
  2. Sector 125 Noida
  3. Sec 16 Noida
  4. Greater Noida
  5. Sec 122 Noida
  6. Sec 12 Noida
  7. Gurjinder Vihar
  8. Sec 128 Noida
  9. Sector 30 Noida
  10. Maharshi Nagar
  11. Sec34 Noida
  12. Phase-II
  13. Sec 27 Noida
  14. Rabupura

Don’t let high business loan interest rates in Noida come between you and your dreams.

Request for a Rupeek gold loan today and achieve your business goals conveniently!

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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 is MSME loan different from a conventional business loan?

Primarily MSME loan comes with more rigid eligibility criteria than that of a conventional business loan. Moreover, there are differences in terms of interest rate, tenure, business vintage and documentation.

  1. Can I transfer my existing gold-backed MSME loan to Rupeek?

Yes, you can transfer your current MSME loan/SME loan against gold to Rupeek and also can save up to Rs.12,377/lakh on interest.

  1. How can I get higher rebates on Rupeek gold-backed MSME loan?

We offer rebates on regular repayment of Rupeek gold loan. You need to pay frequently to get higher rebates.

  1. Can I get a Rupeek gold-backed MSME loan without PAN card?

You need to submit an ID proof, like an Aadhaar card, Voter ID card, or passport. Alongside that, provide recent utility bills or the rent agreement as address proof.

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