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MSME loan in North 24 Parganas

North 24 Parganas, a highly populated district of West Bengal shares its borders with Nadia in the north and Bangladesh in the east. The district is further sub-divided into five central regions, namely Barasat, Bashirhat, Bidhannagar, Barrackpore and Bongaon.

It is renowned for several places of tourist attraction such as Adyapith temple, Chandraketugarh, Dakshineshwar, Eco Park, and Annapurna Mandir. Apart from that, this district is also home to one of the major IT hubs of West Bengal, located in Salt Lake Sector 5.

The IT hub, while contributing to the economic growth of the district, has also encouraged several small, medium and micro enterprises to set up shop in the area. These enterprises can opt for financing options such as an MSME loan/SME loan to meet their day to day expenses as well as expand their operations.

Why Should Enterprises Opt For An MSME Loan?

Micro, small, and medium enterprises form the backbone of our country’s economy. As such several financial institutions, as well as the government, extend financing to businesses in this sector to aid them in their growth.

Enterprises can apply for an MSME loan to fund a host of business-related expenses such as –

  • Overhead costs like rent, salaries and wages, office supplies, advertising expenses
  • Purchase of raw material, inventory
  • Expansion, diversification, modernisation of business operations
  • Purchase or upgradation of equipment

However, a business must meet some requirements before opting for an SME loan in Barasat. These are as follows –

  • A business with an investment of Rs. 50 crore and a turnover of Rs. 250 crore qualify as medium enterprise
  • Businesses with investments of Rs. 10 crores and an annual turnover of Rs. 50 crore are eligible as a small-scale enterprise.
  • Micro enterprises can have a maximum turnover of Rs. 5 crores and an investment of Rs. 1 crore

Apart from that, MSMEs also need to submit an array of documents during the SME loan online application process. These are listed below –

  • Business plan
  • KYC documents such as Aadhaar card, Voter ID card, PAN, Telephone and Electricity bills, sales tax certificate, lease agreement, etc.
  • Financial documents, like Income tax returns, bank account statements, Balance sheet and profit and loss statement (CA certified)
  • Registration documents, partnership agreement, Article and Memorandum of association, statement of creditor or any document issued in the name of the business

However, most small businesses are unable to meet the extensive documentation procedure for MSME loans. In that case, they can consider opting for other types of business loans. For instance, entrepreneurs and business owners can apply for a gold loan to meet their business needs.

Prank sombody with the fake Windows 10 upgrade screen which never ends. Open the site in a web browser and go full screen with the F11 key.

What Are The Advantages Of A Gold Loan Over MSME Loans?

Gold is a highly liquid asset lying idle in most Indian households. Borrowers can tap into its equity by pledging it as collateral to acquire the necessary funding for their business. Since the amount is secured against gold, prospective applicants do not have to go through stringent eligibility parameters or extensive documentation to qualify for this type of loan, which results in quicker processing.

Furthermore, lending institutions also offer affordable interest rates on gold loans since the credit risk is low. As a result, a significant number of borrowers can apply for a gold loan to finance their business requirements.

You can also consider opting for a Rupeek Gold Loan to avail a host of other industry-first features and benefits.

What Benefits Rupeek Offers To MSME/Smes In North 24 Parganas?

Here are some of the reasons why you should consider availing an MSME loan/SME loan by mortgaging your gold with us –

  • High LTV

Rupeek offers loan amount of up to 80% of the value of the gold. Thus, borrowers can avail substantial funding against their gold assets, which will enable them to finance their business requirements adequately. One can also use Rupeek calculator to check the loan amount they can qualify for.

  • Optimum Security

We extend industry-best security features so that you can stay wholly reassured regarding the safety of your gold loan. The features include –

  1. The gold will be carried from your location to the vault in a GPS-enabled container so that you can track your ornaments in real time.
  2. Your gold ornaments will be stored in a military-grade vault in a partner bank of Rupeek that is within five miles of your location.
  3. You will get complimentary gold insurance, active throughout the loan tenure.
  • Flexibility in Repayment

Rupeek offers several repayment schemes, which enable borrowers to pay off the MSME loan/SME loan amount with ease. For instance, borrowers with regular income can opt to pay it off monthly. On the other hand, businesses with irregular income can choose to pay off the whole amount at the end of the tenure or via instalments per their convenience.

Rupeek Gold Loan In North 24 Parganas

Our Gold loan services can be availed in the following areas -

  • Bidhannagar
  • Barrackpur
  • Baranagar
  • Kamarhati
  • Barasat
  • Dum Dum
  • Madhyamgram
  • New Barrackpur
  • North Barrackpur
  • Naihati
  • Titagarh
  • North Dum Dum
  • South Dum Dum
  • Rajarhat-Gopalpur
  • Kanchrapara

Existing, as well as new MSME North 24 Parganas, looking for quick financing, can, thus, opt for a gold-backed MSME loan/SME loan from Rupeek to meet their business goals.

Get in touch with us today and get funding within 60 minutes!

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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 are the documents required to opt for a gold-backed SME loan?

During MSME loan Barasat apply online, borrowers only need to submit their KYC documents, which include ID and address proof.

  1. What is the minimum repayment period for gold loan?

The minimum repayment period for a gold loan is 12 months. However, a borrower can choose to extend their current loan by re-pledging the gold ornaments.

  1. Can I avail overdraft facilities on my MSME loan against gold?

Yes, Rupeek offers overdraft facilities on gold loan known as Rupeek Quick. With this facility, borrowers can withdraw any amount from the credit line and pay interest only on that amount. Thus, it’s of immense help to enterprises looking to smooth out long cash cycles.

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