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Mudra Loan in Kadapa
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Mudra loans in Kadapa

Kadapa is surrounded by the Nallamala and Palkonda hills and is located on the south of Penna River. This city is the district headquarters and centre of all economic activities of the YSR Kadapa district.

Agriculture and service sector drives the economy of this city. Along with that, tourism and hospitality activities have also improved in recent years. Siddhout Fort is a major tourist attraction in Kadapa.

The city’s continual economic growth presents ample business opportunities, and in recent years various small- and medium-scale firms have mushroomed here. The availability of quick financing through a MUDRA loan in Kadapa has fuelled this growth further.

Application Process Of MUDRA Finance Kadapa

PM MUDRA loan was introduced in 2015 to provide financial assistance to non-farm and non-corporate SMEs and MSMEs operating in India.

To avail its benefits, one can apply via their nearest financial institutions that are authorised to extend MUDRA loan in Kadapa. Here is a detailed description of the process –

  • One can either download the application form online or visit their nearest lender’s office to get it.
  • Duly fill-up the form and submit it with required documents to complete the process.

A point to note here is that having a business plan is mandatory to apply for this scheme, and the applicant must have the required skill to see to that particular prospect.

Categories Of PM MUDRA Yojana Loan

Pradhan Mantri small business loan has 3 categories depending on the stage a business is in. Here are the details –

  1. Shishu MUDRA loan Kadapa is for companies that are just starting their operations. Fund up to Rs. 50000 is available under this plan.
  2. Kishore MUDRA loan Kadapa is targeted to help companies that are operative for a while, and are planning to invest further. Such organisations can avail loans up to Rs. 5 lakhs.
  3. Tarun MUDRA loan Kadapa is for well-established firms that are planning an expansion. They can avail up to Rs. 10 lakhs under this plan.

The aim of a MUDRA loan in Kadapa is to offer necessary financial fund to businesses, but the lengthy approval period often becomes a hurdle. In this regard, business owners may look for an alternative, and gold loans offer the perfect solution for such purposes.

Difference Between PM MUDRA Loan And Gold Loan

Particulars

Gold Loan

MUDRA Loan

Eligibility

Minimal, applicants must be 18 years and above

The enterprise should be registered under Udyog Aadhaar Memorandum. Applicants should have a clear repayment history.

Documents

Only OVDs for KYC and address proof required

Business details

Income proof

Bank account statement

Balance sheet, profit and loss statement

Business plan

Approval time

Quick, Within 1-2 hours

It’s lengthy; takes days to get approved

Loan amount

Depends on the pledged jewellery’s value

Up to Rs. 10 lakhs

Business type

Any business

Non-firm and Non-corporate

A gold loan fares better than a MUDRA loan government scheme in several aspects. Hence, look for a gold loan lender instead of googling ‘MUDRA loan providers near me’ when in need of urgent, substantial funds.

However, while selecting a gold loan lender, it is vital to choose one that will make borrowing a hassle-free affair. In this regard, Rupeek is a name you can consider. With its vast network and industry-first features, it aims to increase borrower’s convenience.

Merits Of A Rupeek Gold Loan

One of India’s leading Fintech companies, Rupeek has introduced various benefits to make the borrower’s experience more pleasant and hassle-free. 

Here are the notable ones –

  1. With a high per-gram rate, Rupeek allows customers to get more funds against their gold ornaments. They can now get up to Rs. 1.5 crores against their gold jewellery.
  2. Borrowers can enjoy interest rates as low as 0.79% per month, which makes interest payment considerably more manageable.
  3. Furthermore, the availability of multiple repayment schemes makes the repayment process more accessible. One can choose a regular EMI process or opt for ‘no-tension plan’ that lets them repay as per their convenience.
  4. The loan transfer facility offered by us allows customers to save up to Rs. 12,377 per lakh on loan repayments.
  5. We follow robust security measures to ensure the safety of your gold articles. Our representatives use bags featuring GPS to carry the gold ornaments, and we provide mandatory gold insurance coverage during the loan tenure.

Businesspersons can also utilise our overdraft facility against gold to address their cash flow issues.

Gold Overdraft Facility Offered By Rupeek

Known as Rupeek Quick, this overdraft facility enables our customers to access instant funds. They can pledge additional gold ornaments to get a credit line. Moreover, they need to pay interest on the amount they use, ensuring additional savings.

Additionally, our doorstep services make for a more convenient borrowing experience. Our presence in top localities of Kadapa has enabled us to offer such prompt services. 

Our Areas Of Service In Kadapa

Entrepreneurs can get a doorstep loan in just 30 minutes from any of the below-mentioned localities –

  • Badvel
  • Cuddapah
  • Galiveedu
  • Ganganapalli
  • Nandalur
  • Porumamilla
  • Rajampet
  • Rayavaram
  • Rayachoti
  • Vontimitta

A MUDRA loan in Kadapa offers numerous benefits to SMEs and MSMEs. However, timely financing may be an issue with this financial product. In that case, one can resort to gold loans. Moreover, with a lender like Rupeek, this process becomes even more accessible, and one can quickly avail an online instant gold loan at their doorstep.

So, call Rupeek for a fair, flexible and fast financing option.

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Benefits of Gold Loan over Mudra Loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
Comparision Parameters Mudra Loan Gold Loan
Interest Rate 2.39% 0.79%
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 eligibility criteria for availing a Rupeek gold loan?

The eligibility criteria for a MUDRA loan scheme Kadapa require you to be above 18 years and possess gold ornaments. Also, you need to submit KYC documents to complete this process.

  1. Can I get a MUDRA loan for working capital needs?

You can get a MUDRA loan in Kadapa to meet your working capital requirements.

  1. How to initiate a gold loan request with Rupeek?

You can put a gold loan request by submitting your mobile number. A company executive will contact you to guide you through the rest of the process.

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