Whether you need an SME loan or an MSME loan, get the required funding to meet your operational needs with ease.
In recent years, the country’s booming economy has provided momentum to the rise of several SMEs (small and medium-sized enterprises) and MSMEs (Micro, Small, and Medium Enterprises). Moreover, it has become quite easy to obtain an MSME/SME loan to meet your business’s working capital requirements.
You can use an MSME/SME loan for several purposes. Bajaj Markets offers loans that can support:
Upgrading your company’s infrastructure
Buying and repairing factory machinery
Purchasing raw materials
Setting up or expanding your business
Read on to learn about SME/MSME loans, their features, the application process, interest rates and more.
You can apply for SME/MSME funding online on our platform and get it approved in just a few minutes.
Most SME/MSME loans for new businesses are unsecured and do not require you to pledge collateral.
The SME/MSME funding options offered on Bajaj Markets come with a high loan limit of ₹50 Lakhs.
Repay SME/MSME finance within a flexible repayment tenure of 12 to 72 months.
The registration process to get MSME or SME finance can be carried out online with ease. Just follow the below-mentioned steps to register your firm for the MSME loan scheme:
Entrepreneurs who are not registered as MSME or with EM-I
Entrepreneurs who have the Udyog Aadhaar Memorandum (UAM) or are registered as EM-II
On Bajaj Markets, you can get MSME/SME Loan at an affordable interest rate, starting at 12%. In addition, nominal charges are levied as processing fees or penalties if the applicant decides to prepay or foreclose the loan.
Interest Rate |
12% onwards* |
Processing Fee |
About 2%-3% of the loan amount* |
Loan tenure |
12-72 Months |
Pre-closure Charges |
Nil |
Loan Amount |
Upto ₹50 Lakhs* |
Disclaimer: Aforementioned loan specifics can vary at the lender’s discretion.
Check out some do’s and don’ts you must consider while applying for an MSME/SME loan.
Dos |
Don’ts |
Most lenders rely on the borrower’s credit rating for loan approvals. Check your CIBIL score before applying for an MSME or SME loan. |
Do not apply with multiple lenders, as it reduces your CIBIL score considerably. The lender might see this as high financial reliance, which might lower your chances of loan approval in addition to your CIBIL score. |
Ensure all the required documentation is in place before starting the loan application process. |
Avoid delaying your loan repayments for existing debts even if you take the MSME loan for new business debt consolidation. This will affect your credit score negatively. |
Make sure the MSME loan requirements are assessed before applying for the loan. Try not to overestimate or underestimate your MSME loan requirements as you will waste your time and money in both cases. |
Be aware of fraudulent lenders that may charge you huge fees for MSME loan approval. A genuine lender will never ask you for an upfront fee and will typically charge you a percentage of the disbursed loan amount. |
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.
As per the new definitions, any firm with an investment of less than ₹1 Crore and turnover of less than ₹5 Crores will fall under the micro category. Businesses with less than ₹10 Crore investment and turnover of less than ₹50 Crores will be considered under the small category.
Enterprises with an investment of less than ₹50 Crores and turnover of less than ₹250 Crores will fall under the medium category.
The government of India has proposed to offer collateral-free loans as a relief for MSMEs which the Centre will fully guarantee. A principal repayment moratorium for 12 months, along with the interest rate capping, will be applicable with a no-guarantee fee.
You can get an MSME/SME loan through Bajaj Markets if you are a self-employed professional or non-professional, including a trader, retailer or proprietor.
It is not necessary, but it is always advisable to get your company registered as an MSME (if it satisfies the requisite criteria), for it will help your business scale up and save you from inconveniences like taxes, permissions, employee-related issues, and other legal issues.
You can easily apply for the booster scheme for MSMEs on the Udyog Aadhaar website. Just fill in the application form and provide the requisite details like Aadhaar number, industry type, address, bank account details, etc. You will be given a registration number once your application is successfully submitted.
No, you do not need to provide collateral for MSME loans since they are typically collateral-free loans.
No, it is not compulsory to have a credit rating to get an MSME loan. However, if you have a high credit rating, you can get lower interest rates, high loan amounts and other benefits.
The terms are often used interchangeably to refer to loans catering to businesses within the defined size categories.