MSME Loan in Trivandrum

Trivandrum, also known as Thiruvananthapuram, is the capital of ‘God’s Own Country’, Kerala. The Kovalam beach, along with three other crescent beaches, is the primary tourist attractions of this city. Furthermore, Napier Museum, Sri Chitra Art Gallery, and Padmanabhaswamy Temple are some of the places in Trivandrum that deserve special mention.  

Aerospace, Information Technology, and plantation industries contribute significantly to Trivandrum’s economy besides tourism. Over the years, several MSMEs have mushroomed in the city, leading to galloping economic growth. However, it also presents stiff competition to both existing enterprises and new businesses trying to make it big in Thiruvananthapuram. Hence, the need for the right MSME loan/SME loan in Trivandrum is pronounced here. 

It’s not only about securing a loan, however. Entrepreneurs must also be smart about their choice when approaching any financier or opting for any government-backed scheme.

MSME – The Next Big Sector

The Central Government has taken multiple initiatives to boost the MSME sector of India as it contributes substantially to the country’s GDP along with generating employment. Along with that, the Kerala Government also introduced some schemes to help the MSME/SME units in this state financially. For instance, one can now visit the official website of Kerala and initiate MSME online registration Kerala for free.

MSME Registration Process

Business owners can get their companies registered as an MSME via Udyam Registration Portal with the following steps –

Step 1: Duly fill the application form and submit necessary documents

Step 2: Subsequently, individuals, will receive a registration number

Step 3: Next, the applicant needs to pay the registration fee

Step 4: Following a successful payment, the respective organisation will receive its MSME registration within 1-2 working days

Step 5: Entrepreneurs will receive this certificate via email

Even so, qualifying for these MSME loans entails lengthy paperwork. For instance, businesspersons must have small scale industries license in Kerala to be eligible for specific state government-backed schemes. The prolonged processing period, which can extend above 8 days, adds to the shortcomings of government-backed MSME loans.

Alternatively, entrepreneurs in Trivandrum can approach banks or NBFCs for funding. The dedicated financing options for MSMEs help these organisations to meet their necessary demands.

The MSME loan process with these financial institutions is quick, owing to its less extensive paperwork. Moreover, there is no collateral involved, which further shortens the verification and processing. Resultantly, borrowers can receive their loan amount within 24-72 hours.

The lack of restriction on funds’ usage also increases the borrower’s convenience. It allows individuals to meet an array of business expenses, like supplementing working capital, meeting inventory requirements, making investments in growth and expansion, etc.

Types Of MSME Loan/SME Loan In Trivandrum

Here are a few categories of MSME loans that one can avail to manage their business finances –

  1. Working Capital Loans

This financial product allows enterprises to strengthen the working capital of their business. Since having substantial working capital helps businesses to overcome a number of short-term requirements, it is imperative to have a strong foothold here. In this regard, entrepreneurs can take credit to support this aspect of their business and meet their day-to-day expenses without any hiccups.

  1. Invoice Financing

Under this financial product, borrowers can obtain credit against unpaid invoices. Invoice discounting is another form of short-term financing option, with repayment periods usually aligning with due dates. It helps companies to meet any shortage in cash flow or sudden financial requirements. Financiers usually provide a percentage of the outstanding amount, depending on the company’s credibility. One can use the sum for various short-term requirements, ranging from restocking inventory to hiring professionals.

  1. Term Loans

Financial institutions in Kerala offer term loans without any collateral. The loan amount here can be substantial, depending on an applicant’s ability to meet the eligibility criteria. Similar to the options mentioned above, a term loan does not entail any usage restriction either. Thus, individuals can address a bevvy of requirements with the same.

On the flip side, the interest rate with these MSME/SME loans is comparatively higher since it is an unsecured financing method.

These MSME loan/SME loan in Trivandrum issues can be eased out if they look for a simpler alternative like a Rupeek gold loan. It not only brings the best of the aforementioned MSME loan options but also feels lighter on the pocket.

Get an MSME loan against gold at your doorstep with us. Starting from gold valuation and document verification to entire loan processing takes place at the comfort of the borrower’s house and is completed within 60 minutes.

What’s the secret behind our prompt service? Our widespread presence in the various localities around Trivandrum.

Rupeek’s Areas Of Operation In Trivandrum

Individuals residing in any of the following areas in Trivandrum can apply for Rupeek’s gold-backed MSME loan/SME loan in Thiruvananthapuram. We are just a click away!

  1. Janardhanapuram
  2. Poojapura
  3. Kazhakkoottam
  4. Kallambalam
  5. Vattiyoorkavu
  6. Pachalloor
  7. M G Road 
  8. Peyad
  9. Karaivattom
  10. Peroorkada

Therefore, while getting credit for small business requires an MSME registration Kerala certificate, we do not ask for any such documents. You only need to present KYC documents, and the loan amount will be credited as soon as the loan processing is completed. 

Apply now for a gold loan from Rupeek and take your business to a new height!

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Benefits of Gold Loan over MSME/SME loan.
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Today’s max loan value/gm () **

Today’s max loan value/gm ()
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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 should I consider before applying for an MSME loan?

Before applying for an MSME loan/SME loan in Trivandrum, you need to check the lender specific eligibility criteria, necessary documents, interest rates, loan amount offered, credit score required, and repayment options. 

  1. What are the government schemes for MSMEs?

Pradhan Mantri Employment Generation Programme (PMEGP), CLSS for Technology Upgradation, CGTMSE, MUDRA, Emergency Credit Line Guarantee Scheme, and Coir Vikas Yojana are a few government-backed MSME/SME schemes.

  1. What are the documents I need to submit to get an MSME/SME loan?

Documents needed for a loan for your small business include KYC details, business details (registration papers, ITR, property details, licences, etc.), financial documents, business plan and applicant’s personal information.

  1. Is having a business plan mandatory to source an SME loan?

No, it is not mandatory, but having a business plan further improves your eligibility.

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