MSME loan in Rajkot

As the name suggests, an MSME loan/SME loan is customised to support India’s Micro, Small and Medium enterprises. Both government schemes, as well as private financiers, extend this financing option. Government options include MSME loan scheme like -

• Market Promotion and Development Scheme (MPDA)
• Coir Vikas Yojana (CVY)
• Skill Upgradation and Mahila Coir Yojana (MCY)
• Prime Minister Employment Generation Programme, etc.

 As per the Government of India’s Micro, Small and Medium Enterprises Development (MSMED), 2006 act, following are the definitions of these businesses. 

1. Enterprises with investment below Rs. 1 crore and turnover less than Rs. 5 crores is considered Micro.
2. Investment of a firm that does not exceed Rs.10 crores and turnover does not exceed Rs.50 crores falls under Small.
3. Medium-scale are enterprises with an investment of less than Rs.50 crores and turnover below Rs. 250 crores. 

The government offers MSME financing to these enterprises based on their turnover and eligibility fulfilment. Even NBFC’s are stringent in terms of documentation, which makes the loan processing tedious. 

On the other hand, the interest rate on finance for SME can be incredibly high. In such cases, a gold loan can be an excellent alternative to an MSME loan in Rajkot.

Prospective borrowers in need of emergency fund can collateralise their gold assets and get the desired funds instantly. 

Nevertheless, a comparative study of these two credit products will help them to choose the product, best for their small business.

Here is a table specifying differences between MSME loan/ SME loan and gold loan products. 

The above table substantiates the advantages of availing a gold loan over a conventional SME loan in Rajkot. Moreover, one can multiply these benefits ten-fold by opting for a Rupeek gold loan.

We also offer you a gold loan calculator to get an estimation of how much gold needed to be pledged against the loan amount. 

Following are some of the features of Rupeek’s MSME loan against gold that makes this product beneficial unlike a stringent MSME loan/ SME loan in Rajkot. 

1. We offer the highest per gram value of the gold as our offered LTV ranges up to 80% of the current valuation of the pledged gold.
2. You can get up to Rs.1.5 crore through Rupeek gold loan, which you can use to undertake big-ticket expenditures.
3. Our interest rate starts at 0.79% per month, and we also facilitate a flexible repayment of the loan. Borrowers can choose the schemes accordingly by assessing their finances. 
4. We provide doorstep service to our borrowers who apply for a gold-backed MSME loan. Our loan manager visits your address on the scheduled date for a gold valuation and KYC assessment. After completion of these formalities, the loan is sanctioned to you within 30 minutes.
5. We also offer a line of credit against gold, which gives you the flexibility to access fund any time as per your convenience. Details related to this feature can be checked under Rupeek Quick section.

6. You can repay the due amount in a single payment at the term’s end or go by the regular EMIs. We also offer you the option to clear interest payment first and then repay the principal.

These features make our MSME loan process convenient, affordable, and efficient for a borrower. Check Rupeek today to read about the features in detail.

We are currently operating in all these places in Rajkot. Check out the list to avail our doorstep gold-backed MSME loan/ SME loan. 

• Dhebarbhai Road
• Rajkot Marketing Yard
• Gondal
• Wankaner
• Paddhari
• Sapar Veraval
• Rajkot Metoda Gidc
• Sardhar
• Rajkot Raiya Road
• Virnagar
• Mota Mava

Leverage all the benefits of a Rupeek gold-backed MSME loan/ SME loan in Rajkot and ensure a healthy cash flow. So, stop searching for the ‘best MSME loan lender near me’ and apply for a gold loan today with us.

Here’s to achieving your dream business!