What are the Features and Benefits of SME/MSME Loans at Piramal Finance?
You can experience plenty of benefits if you choose an MSME loan and apply online through Piramal Finance. Some of the key features of availing SME loans at Piramal Finance are:
Zero Collateral
Quick Approval
Flexible Loan Repayment Tenure
Higher Loan
What are the Documents Required for MSME/SME Loans?
While you apply for an MSME/SME loan for your business, you need to submit the following documents:
Proof of Identity
You need to submit your Aadhaar Card, voter ID card, or passport as proof of your age and identity.
Proof of Residential Address
You can submit your telephone, electricity, or any other utility bill that will prove your residential address. Providing your Aadhaar card, passport, or driver's license will also suffice.
Proof of Business
You are required to provide a valid certificate proving your business's existence. You must also submit your previous financial year's income tax filings and your profit and loss statements for the past three years.
Please note that you must also provide two passport-size photographs and your duly completed application form.
How Should You Apply for an SME/MSME Loan at Piramal Finance?
Step 1:
Go to the Piramal Finance MSME Loan page. Read the features and eligibility criteria, and start the application process.
Step 2:
Click on Apply Now
Step 3:
Fill in the required Personal details such as Name, Contact Number, Birth Year, and MSME Loan Amount.
Step 4:
Choose the employment type 'Salaried' OR 'Self-Employed'
Step 5:
Add your monthly income
Step 6:
Select the State and branch (enter the branch by city) and Submit the MSME loan application form.
Step 7:
Wait for a call from the official representative to move ahead with the processes.
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Having an MSME registration is absolutely voluntary. However, most businesses opt for MSME registration only to take advantage of the potential benefits offered by the same. By registering as an MSME, you can scale up your business. In return, it will save you from inconveniences, including permissions, taxes, legal issues, employee-related issues, etc.
Both self-employed professionals and self-employed non-professionals can apply for an MSME loan at Piramal Finance. This means retailers, proprietors, traders, and others can easily avail themselves of MSME loans.
If you wish to apply for the booster SME loan scheme, you can do so on Piramal Finance's website. All you need to do is fill out the application form by providing all the requisite details as asked of you. Once you have successfully submitted your application form, you will be provided with a unique registration number.
You can follow a very easy procedure for an MSME loan application online. Firstly, you need to fill out the online application form for an MSME loan at the website of Piramal Finance. Then, you need to submit all the requisite documents and complete the application procedure. Once your application has been approved, your loan amount will be disbursed to your bank account within 24 hours.
Having a good credit score is always important when it comes to acquiring any loan. A credit score above 750 is an added advantage when applying for an SME business loan. However, Piramal Finance provides loans to applicants with low credit scores.
Yes, it is offered to MSMEs, uprising entrepreneurs, and existing businesses.
Both existing MSMEs and salaried professionals should submit their previous year's GST return when starting their new businesses. So before applying for SME financing, make sure that your previous year's GST returns have been completed.
With Piramal Finance, you can avail of an MSME loan interest rate starting at 17% per annum.
There isn't any cost associated with SME/MSME registration. In fact, you can easily obtain an MSME certification absolutely free of charge.
You can foreclose your SME/MSME loan at any time during the tenure after you've paid your first EMI. Please note that you will not be charged with any extra charges or penalties for foreclosing your SME loan.
