MSME loan in Thiruvallur

Businesses can use an MSME loan to fund an array of expenses. While a few government-backed schemes come with end-use restriction, bank loans are usually free of such limitations. Here are a few common use-cases of an MSME loan –

1. Entrepreneurs can use SME loans to boost their organisation’s working capital.
2. MSME loan online can also be used to purchase new equipment or upgrade the existing ones.
3. An MSME loan can be used to meet seasonal demands.
4. MSME loans are an excellent source of support during expansion, diversification, and modernisation.

Entrepreneurs can meet these expenditures and more with an SME loan. However, companies must meet the eligibility criteria to apply for this financing option.

Here are the necessary eligibility requirements that applicants need to fulfil –

1. The enterprise must boast a business vintage of at least 6 months to 1 year. Private financiers prefer a bona fide vintage of 2 years.
2. The applicant must have a 750+ credit score.
3. The yearly turnover of the organisation must be higher than Rs. 25 lakhs.

The documents a businessperson needs to submit includes KYC papers, audited P&L statement and Balance Sheet, documents pertaining to revenue projections, etc.

It’s prudent to check the eligibility and documents required thoroughly when searching for ‘SME loan providers near me’ in Thiruvallur.

Companies that are unable to meet these requirements can, however, be denied of an MSME loan. Companies that barely satisfy these parameters, on the other hand, may have to service an unsecured MSME loan at high rates of interest.

To that end, a gold loan serves as an excellent alternative to an MSME loan/SME loan.

The lenient eligibility requirements and minimal documentation make availing a gold loan hassle-free. Besides, a gold loan has no usage limitation. Thus, entrepreneurs can timely meet all their financial requirements with this financing facility.

To enjoy further benefits, like doorstep service, low interest rates, and optimal security of gold, MSME/SMEs can opt for Rupeek.

One of the leading Fintech Companies of India, Rupeek has fashioned a number of customer-friendly loan schemes and offers a host of features that make borrowing a pleasant experience for entrepreneurs. Here are some notable ones –

1. Overdraft Facility

At Rupeek, we offer an overdraft facility to aid our customers in every urgent financial need. Our existing customers can pledge gold to get access to a substantial line of credit called Rupeek Quick.

This facility is conducive for entrepreneurs, as now they have access to instant funds to meet their sudden business expenses. Moreover, they need to pay interest only on the amount they use. So, borrowers can save substantially on repayments.

2. High Per-Gram Rate

We offer one of the highest per-gram rates in the gold loan segment, which allow our customers to avail up to Rs.1.5 crores. You can check the gold loan calculator on our website to learn the current per-gram rate, and calculate the loan amount.

3. Affordable Repayment

Along with the high per-gram rate, we also offer a low-interest rate that starts from 0.79% per month. Hence, interest repayment with us is more affordable now.

4. Balance Transfer Facility

With us, you can now save substantially on loan transfer. The process is straightforward and quick. You can save up to Rs.12,377 per lakh on loan repayments.

5. Multiple Schemes

Rupeek offers multiple repayment options. With us, you get to select the payment method you are comfortable with; you can choose from conventional EMIs, interest pre-payment, single bullet scheme or pay as per your convenience.

Our doorstep services further enhance the benefit of selecting Rupeek. Following your loan request, our loan managers will visit your address to cater to your requirements. Rupeek’s loan executives are present in every nook and corner of Thiruvallur, ensuring they can reach your residence within just 30 minutes of a loan application. 

• Periapalayam
• Ponneri
• Pattabiram
• Uttukottai
• Pulicat
• Tiruttani
• Tiruvelangadu
• Minjur
• Kadambathur
• Poonamallee
• Avadi
• Thiruverkadu

All businesses need to support their cash flow and other financial endeavours with debt, either wholly or partly, to sustain and grow. That’s why it is vital to be smart with the choice of MSME loan/SME loan.

A gold-backed financing option offers an excellent opportunity for entrepreneurs to avail the most of their gold’s worth. Plus, Rupeek’s many industry-first features ensure entrepreneurs are ideally positioned to access all opportunities that come their way timely.

Contact Rupeek for a fair, fast and flexible solution to your business needs.