Check who is eligible for MSME loan
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Financial institutions offering MSME loans and other credit facilities set certain eligibility and document requirements. Lenders approve your application only if you meet the criteria and submit the necessary documentation.
Once you are certain that you are eligible, you can apply for an MSME loan with the following documents:
Proof of identity (any of the following)
Aadhaar card
PAN card
Passport
Voter ID
Proof of address (any one of the following)
Utility bill (telephone or electricity)
Aadhaar card
Passport
Driver’s licence
Proof of business
Business certificate
Profit and loss statements for the last 3 years
Income tax returns for the previous financial year
Passport-size photographs
Keep in mind that the above requirements are generic in nature, and you may need to submit additional documents or meet eligibility criteria as per the financial institution.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
FAQs on MSME Loan Eligibility Criteria & Documents Required
Can a start-up apply for an MSME loan?
Yes, provided they meet the eligibility requirements, start-ups can apply for an MSME loan.
Do I need to provide collateral to get an MSME Loan?
As per RBI regulations, banks must offer loans of up to ₹10 Lakhs to entities in the MSE sector without any collateral.
