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If you are an entrepreneur looking to avail funds for your business, you should consider applying for an SME/MSME loan. However, you must ensure that you meet the MSME loan eligibility criteria ahead of applying for an MSME business loan. The essential criteria to qualify for the MSME loan is to be an existing micro, small, or medium entrepreneur in the manufacturing or services industry. If you meet the MSME loan scheme eligibility criteria, the funds can be used for:


  • Investing in your firm’s infrastructure

  • Meeting working capital requirements 

  • Purchasing new plant or machinery or upgrading to the latest technology

  • Meeting overheads like accounting fees, advertising, rent, repairs, etc.

What are the Eligibility Criteria for MSME Loan?

If a business owner wants to secure an MSME loan, they must meet the eligibility criteria as stated below in the table: 

Minimum Age

18 Years

Maximum Age

65 Years

Who is Eligible for MSME Loan?

Your business must have an annual turnover ranging Rs. 25 Lakhs to Rs. 50 Crores 


No collateral or third-party security is needed. 

Eligible Lending Institutions

Private Sector Banks, Public Sector Banks, Micro-Finance Institutions, Regional Rural Banks.


Identity proof, address proof, and application form

Documents Required for MSME Loan

Once you meet the MSME business loan eligibility criteria, you must submit a few documents for successful MSME loan approval. The list of documents required for MSME/SME loan is given below in the table:


Documents Required

Identity Proof

PAN card, Aadhaar card, voter’s ID card, passport

Address Proof

Ration card, rental agreement, utility bills

Business Address Proof

Rental agreement, lease agreement, electricity bills

Income Proof

Profit and Loss Account and Balance Sheet copies of last 2 years

Tax Documents

Income Tax Returns, sales tax return, PAN card

Proof of Securities Offered

Photocopies of lease deeds or title deeds 

Other Documents

Project report, Estimated Balance Sheet, project report

Through Bajaj Markets, one can swiftly avail a business loan for an MSME to set up and/or expand their business. Bajaj Markets’ lending partners offer MSME loans at very low interest rates along with a plethora of additional benefits, including a line of credit facility. Apply for an MSME Loan, today!

Frequently Asked Questions:

Micro, Small, and Medium Enterprises can opt for MSME loans in order to expand their business or to set up new enterprises.

The age limit for borrowing an MSME loan ranges between 18 years and 65 years. 

Yes, start-up businesses can apply for MSME loans as per the loan amount, rate of interest, and repayment tenure.

According to an MSME loan subsidy scheme, eligible sectors may get an interest relief of 2% per annum on their remaining due of term loans or working capital loans during the period this scheme is active.

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