MSME loan in Tirunelveli

Over the years, Tamil Nadu Industrial Investment Corporation has taken multiple initiatives to boost the small and middle-scale businesses. However, in order to qualify for the same, you need to meet specific criteria and present proper documents to authenticate the details provided by you. 

It also holds for NEEDS scheme that provides principal and interest subsidy to budding entrepreneurs. Moreover, you need to wait for days to get funds through government schemes. Thus, if you are in urgent need of liquidity for your business, these financing options might prove ineffectual. 

Nevertheless, several commercial banks, NBFCs as well, extend financial assistance to eligible enterprises. The loan amount one can avail, and the interest rate on it depends on how well an applicant meets the MSME loan eligibility parameters. You can search for ‘MSME finance providers near me’ to view lender-specific eligibility criteria.

A few common yardsticks include –

• 750+ - credit score
• 2 years – Minimum business vintage
• 25 lakhs – Minimum annual turnover
• Must submit financial statements (audited)
• Should provide future balance sheet to substantiate revenue projections

Businesses with insufficient credibility and turnover may struggle with getting an MSME loan/SME loan. These enterprises can consider a gold loan in Tirunelveli to meet cash shortfalls.

The following are a few standard benefits of a gold loan –

• Proper use of idle gold assets
• Cost of borrowing is less when compared to an MSME loan
• No restriction on usage, unlike a few government schemes
• Prompt gold-backed MSME loan procedure
• Minimal documentation 

In order to get these features and more in a single financial product, you can opt for Rupeek’s gold loan for MSMEs/SMEs. By opting for Rupeek’s gold loan, you can infuse required liquidity in your business without any hassle. 

We at Rupeek curated this gold loan keeping in mind the comfort and convenience of the borrowers. 

Here are a few characteristics of our gold loan. 

• With the highest per-gram rate, business owners can acquire funds up to Rs. 1.5 crores without any credit score. They only have to use our gold loan calculatorto get an idea of how much gold they need to pledge to be eligible for the funds required. 
• The Rupeek gold loan interest rate begins from 0.79% per month, making this financing option affordable for all sizes and types of business. 
• Get an MSME loan/SME loan against gold within 60 mins at the comfort of your home. Once you request for the loan, our loan manager will visit your residence within 30 mins to initiate the loan processing formalities.
• We also extend a 100% insurance coverage for all gold jewellery and also maintain a full-proof security protocol to keep the pledged gold safe. The gold articles are kept in the nearest bank’s vault to eliminate any possible security threat. 
• Another perk of availing a Rupeek gold loan is that you can choose the repayment option based on your current financial status. We have some flexible repayment schemesthat let you repay the entire amount through EMIs, or you can pay the amount whenever you wish before the tenure ends. 

Moreover, Rupeek also offers a solution for emergency financial requirement through a loan overdraft facility. 

You can further amplify the benefits of Rupeek gold loan by availing loan overdraft facility, also known as Rupeek Quick. This facility enables existing borrowers to avail a credit line by repledging some gold. 

You do not have to present any document to take advantage of this facility. Moreover, once the gold appraisal is done, the amount will be credited to your mobile wallet. You either can start using the funds directly from there or transfer it to your bank account. Another perk of this facility is that you only need to pay interest on the amount spent from the total limit. 

Hence, you can not only draw funds round the clock but also lower your interest payment to a great extent with Rupeek Quick. 

Availing an MSME loan/SME loan against gold has become simpler than ever. Our loan executives are dotted all across Tirunelveli to ensure timely response to your application every time.

We offer our loan services in and around the following localities in Tirunelveli –

1. Ambasamudram
2. Kokkirakulam
3. Alwarkurichi
4. Palayankottai kalakad
5. Nanguneri
6. Vallioor
7. Kudankulam
8. Cheranmahadevi
9. Manjolai
10. Kallidaikurichi
11. Kavalkinaru

When the hard-to-meet MSME loan eligibility criteria and tedious paperwork block your borrowing means, Rupeek’s gold loan comes to rescue.

Apply for a gold loan with Rupeek and see your business grow!