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MSME Business Loan: A Step-by-step Guide

MSMEs (Micro, Small and Medium Enterprises) are an important pillar of any economy, contributing significantly to employment generation and economic growth. However, these businesses often face financial constraints, especially when it comes to accessing credit. To address this, governments and financial institutions have developed specific loan schemes tailored for MSMEs.

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MSME Business Loan: A Step-by-step Guide

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  1. India’s largest online lending fintech platform* An interactive ecosystem empowering borrowers and lenders Digital Contactless Journey Digital approvals within 59 minutes and disbursements within 7-10 days Caters to the financial aspirations of enterprises (MSMEs) & individuals facilitating affordable loans in a quick & hassle-free manner Deeply integrated with multiple vendors to get authentic data from source Sophisticated algorithms & automation used to eliminate time-consuming & tedious processes Assists lenders in customer acquisition, disbursement & monitoring ensuring deeper customer penetration & improved Proposals processed with a rules-based engine built using banks’ eligibility criteria Strong partnerships with all public sector & multiple private sector banks *Credit Suisse Report on India Banks Sector (March 2019).

  2. MSME Loan up to 5 Crore grow your business in less than an hour* *digital approval only. loan disbursal subject to sanction

  3. What is MSME loan ? • Micro, Small and Medium Enterprises (MSME), which play a crucial role in the socio-economic development of india, often face huge challenges when it comes to timely funding. PSB59 makes the lives of MSMEs easier by not only helping raise funds for various business requirements quickly, but also simplifying the decision-making process for credit managers. • With PSB59, the pioneers in MSME financing, you can get digital approvals for business loans ranging from ₹10 lac to ₹5 crores and within 59 minutes, with a simple, single application.

  4. Use of MSME Loan Business expansion Technology upgrade Purchase of plant & machinery Purchase raw materials Working capital needs Scaling operations Product/ Service expansion Infrastructure development Business diversification

  5. Why avail MSME loan from www.psbloansin59minutes.com Saves you time and money Fastest turnaround time Real time decision making Simple process with single application Direct disbursement to applicant’s account Digital loan approval in less than 59 minutes Seamless integration with statutory bodies/CGTMSE Advanced digital platform with service-driven architecture MSME business loan up to ₹5 crores at the lowest interest Sophisticated algorithms for matching of borrowers and lenders Flexible tenures with affordable interest rates starting from 8.5%/annum

  6. Process Flow Get digital approval for MSME business loan upto 5 crore in just 59 minutesFollow these simple 5 steps:

  7. Types of MSME Loan • Working Capital Loans: Short term funding for your daily working capital requirements. Enough working capital ensures smooth operations of your business & boosts cash flows. • Term Loans: One of the traditional methods for business financing. Can be utilized to meet various business requirements such as business expansion, machinery procurement and such others.

  8. Eligibility & Documentation • GST registered business: we will automatically fetch all your sales details from GST portal using your GSTIN and GST username. If your business is not registered with GST you can manually declare 12 months sales details. • ITR for minimum one year in XML format: You will need to upload income tax return proof in  XML  format which can be downloaded from income tax portal. If you do not want to upload  ITR  file you can manually declare your income details for last year. • Bank statements for the last 6 months in PDF format: which can be downloaded from your bank's net banking portal or your bank's mobile app. • Other business details: business & loan requirement details.

  9. 21 Partner Banks

  10. For more information: • support@psbloansin59minutes.com • 079-41055999

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