MSMEs loan in India
MSMEs are recognized under the Micro, Small, and Medium Enterprises Development. The GOI enacted the MSMED act 2006. As the name states, the definition of MSMEs consists of Micro, small, and medium-scale enterprises. The sector accounts for almost one-third of India’s economy. Thus ramp up the MSME sector & avail MSME loans in India at ease with Financiio Venture.
COVID 19 Special packages for MSMEs
On 13th May 2020, the government announced a COVID19 Relief package for the MSMEs. Here are some key highlights:
- Banks and NBFCs to provide Emergency Credit Line to MSMEs to up to 20% of entire outstanding credit as on 29.2.2020
- Eligible Borrowers- Up to Rs 25 crore of the outstanding loan and up to Rs 100 crore of turnover.
- The tenure of the loan is 4 years with a 1-year moratorium.
- 100% credit guarantee cover by the government to Banks and NBFCs.
- Interest Capped and No Guarantee Fee
- Scheme available till 31st Oct 2020
- Subordinated Debt along with partial guarantee support from government to banks for providing Rs 20,000 crore subordinated debt to stressed and NPA MSMEs. The government took the risk to cover up to the first 20% of the loss.
- Fund of Funds with a corpus of Rs 10,000 crore to be set up to provide equity funding support to MSMEs with high growth potential
- Global Tenders for any government procurement of up to Rs 200 crore are disallowed which means more opportunities for domestic MSMEs
- All MSME receivables from Government and CPSEs are to be released in the next 45 days.
What is MSME & Government Schemes for MSMEs?
What is the RAMP scheme?
What is the CBFTE scheme?
What is the eligibility criteria for MSME Loan?
What are the benefits of MSME loans?
What are the various type of Loan availble for MSMEs?
Why Financiio Venture?
Financiio Venture is one of the best financial firms in India. We understand the customer, their financial strengths, and their weaknesses. We then suggest the best financial solutions. Thus, we help you with arranging MSME Loans in India.
Financiio Venture is headquartered in Pune and corporate office in Mumbai. We are one of the most modernized and highly specialized MSME loan facilitators in India. The executives are well trained to speed up the procedure. So, they assist in compiling the documentation. Thus, with our thorough assistance and guidance, we help you choose the right repayment structure. We suggest to you the type of loan you should go for.
Financial instruments we arrange
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