Business Loans
Business loans can be a powerful tool to help you finance your business goals, whether it's starting a new venture, expanding your existing operations, or navigating a temporary cash flow hurdle. Carefully compare loan terms, interest rates, and fees from different lenders before making a decision. Therefore, we give advisory support and facilitate in availing the right loan option based on your business needs.
Business Loans Details
Here are few sources of loans that can be availed by the businesses:
PMEGP
PMEGP stands for the Prime Minister’s Employment Generation Programme. It is a credit- linked subsidy programme launched by the Government of India to promote entrepreneurship by providing financial assistance to micro-enterprises in the non-farm sector.
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Nature of assistance
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Subsidies
- Subsidy for Rural Person
- General – 25%
- Special Category (including SC, ST, OBC, Minorities, Women, Ex-Servicemen, Transgenders, differently abled, NER, Aspirational Districts, Hill and Border areas (as notified by the Government) etc. – 35%
- Subsidy for Urban Person
- General – 15%
- Special Category (including SC, ST, OBC, Minorities, Women, Ex-Servicemen, Transgenders, Differently-abled, NER, Aspirational Districts, Hill and Border areas (as notified by the Government) etc.- 25%
- Subsidy for Rural Person
The maximum cost of the project/unit admissible in manufacturing sector is ₹ 50 lakhs and, in the business/service sector, it is ₹ 20 lakhs.
MUDRA
MUDRA (Micro Units Development and Refinance Agency) Loan is an initiative by the Government of India aimed at providing financial assistance to micro-enterprises in the country. Here are the key features and details of MUDRA Loan:
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Objective:
MUDRA aims to fund the unfunded by extending affordable credit to micro-enterprises in the non-corporate, non-farm sector, thereby promoting entrepreneurship and employment generation.
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Categories of MUDRA Loans::
- Shishu: Loans up to Rs. 50,000, typically provided to small businesses at the initial stages.
- Kishore: Loans ranging from Rs. 50,001 to Rs. 5 lakh, targeting businesses that have grown beyond the start-up stage but still need capital for expansion.
- Tarun: Loans ranging from Rs. 5 lakh to Rs. 10 lakh, aimed at more established businesses looking to further expand their operations.
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Collateral Requirement::
MUDRA loans under the Shishu category (up to Rs. 50,000) are generally collateral-free. For loans above Rs. 50,000, lenders may require collateral or security based on their assessment.
Similar Services
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Government Grants & Funding
In India, the government offers a variety of grants and funding programs to support businesses, especially those focused on innovation, research and development, and social impact. These grants can be a great source of financial assistance for businesses looking to grow and expand.
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