MSME stands for micro, small, and medium enterprises, occasionally it is also SME for small and medium enterprises. But, in Summary, MSME and SME loans are the same and are offered to businesses that fall under these two categories. Mostly, these loans are given to startup owners, small business owners, and women entrepreneurs on a short-term basis. The duration of MSME / SME loans varies from creditor to creditor.
As MSME loans are unsecured MSME / SME Loans, there are some minimum eligibility requirements in order to reduce the risk for creditor.
Features of CAonWeb MSME / SME Loans from CAonWeb
CAonWeb offers special small business loans and small business loans for companies in India looking for fast financing. These loans are approved through an online process that helps speed up the delivery of financial vehicles.
CAonWeb also allows some customizations to financial instruments, making it ideal for today’s competitive business world.
1. Ticket Value up to ₹ 2 Crore
Ticket sizes for MSME and SME loans range from KRW 50,000 to flexible 2 crores. This makes CAonWeb business loans a true choice for micro and small businesses.
2. Apply for MSME / SME Loan Online
We believe in rapid growth, so we have removed all processes that delay loan approval. Taking MSME and SME loans online guarantees today’s loan approval and payments are deferred until the document is reviewed.
3. MSME / SME Loan in 3 Days
You can also complete the verification process faster by submitting your documents online. There is no waiting time between sending and receiving documents, so you can approve your MSME / SME loan payment within 3 days of applying.
4. MSME / SME Loans without Collateral
All business loans approved by CAonWeb are unsecured. So you don’t have to get a loan with collateral MSME or SME. So when you get a business loan, you don’t have to worry about the security of your assets.
5. Best Interest Rates for MSME / SME Loans
Calculate the optimal interest rate for your company using financial data analysis. Since no manual intervention is done throughout the process, the rates obtained are fair and depend on the business’s ability to repay the MSME / SME loan.
6. Flexible Repayment Tenure
CAonWeb MSME Loan provides enough time and options to easily repay your business loan. The loan is held for one month and can last up to 36 months. In addition, you have the option to repay monthly or biweekly installments or EMI. This allows you to pay off your debt in sync with your accounts receivable.
7. No Hidden Costs
CAonWeb MSME loans have no hidden costs or fees. Depending on the amount of the loan, you will only be charged the 1-2% prepaid fee. This allows you to add more value to your primary payment than any other business loan product on the market.
8. Zero Prepayment Charges
There are no upfront fees for all MSME and SME loans from CAonWeb. So, if you decide to liquidate your debt early, you can do it anytime after your first EMI payment without paying the full early payment penalty or fee.
Benefits of MSME / SME Loans by CAonWeb
MSME / SME loans by CAonWeb support your business’ growth potential and ability to capitalize on opportunities. The advantages of MSME / SME loans from NBFC like CAonWeb are:
– Move quickly from planning to execution
Our ultra-fast delivery means you can get things done in days, not weeks or months, from planning to execution. The MSME loan from CAonWeb gives you product marketing advantages, expands production, and quickly expands your supply network.
– Remain in control of your business
MSME / SME loans are unsecured and protect your valuable assets in case you have a loan default. Similarly, we do not control credit policy in exchange for your investment, so you are always responsible for your valuable business.
– Manage your company capital better
MSME / SME loans can be used for a variety of purposes. You can use them to buy plants and machinery, open new locations to grow your business, and use loans to streamline working capital and general cash flow. MSME / SME loans help balance corporate capital through short-term investments that are easy to repay.
– Raise your credibility in the market
With CAonWeb MSME / SME Loans, you can provide the boost your business needs and improve your profitability. This, in turn, is reflected in your book, creating trust and confidence in your business in the market. Credit rating agencies also pay attention to your prospects for improvement and open the way to increase your business credit rating and investment and business finance accordingly.
MSME / SME Loans Fees & Interest Rates
|Customized Interest Rates||15 to 27% *|
|Loan Tenure||up to 3 years|
|Eligibility Criteria||> ₹ 90,000 turnover for 3 Months|
|Loan Amount||₹ 50,000 – ₹ 2 crore|
|Installments||Flexible Monthly / Bi-weekly|
* Based on business health, revenue and annual sales ** Pre-closure is only allowed after the first EMI has been paid in full
Eligibility Criteria for MSME / SME Loans
CAonWeb minimizes eligibility requirements to those needed to process MSME / SME loans faster. It does not require too much documentation or unnecessary paperwork to interfere with the loan approval process.
· An established business that has been operating for over 6 months.
· Sales of more than 90,000 won in the 3 months before applying for a loan.
· Companies should not be classified on the SBA Finance blacklist / exclude list.
· The physical location of your company should not be included in the list of negative locations.
· Trusts, NGOs, and charities are not eligible for SME financing.
If you are not sure if your business falls into a restricted category or location, you can contact us to confirm your eligibility
Documents Required for an MSME / SME Loans
· Bank statement (12 months)
· Business registration proof
· Proprietor(s) PAN Card
· Proprietor(s) Aadhar Card
· Partnership Deed
· Company PAN Card
3 simple steps to your MSME / SME Loans
1. Submit application
Simply enter your personal, business and financial information to receive your MSME / SME loan offer.
2. Upload document
Upload a digital copy of the document for verification in a one-step process.
3. Receive sanctions
Receive approval and payment for MSME / SME loan within 3 business days.
FAQ MSME Loan
What are the Benefits of CAonWeb MSME Loans?
We offer MSME loans with fast response and personalized loan terms.
What is the difference between MSME loan and SME loan?
There is no difference. MSME stands for Small Business and SME stands for Small Business. MSME loans are sometimes called SME loans.
What is CAonWeb MSME Loan Turnaround?
If all documents are okay, it will take 1-3 business days.
What documents do I need to get a fast MSME loan?
Proof of business registration, 12-month bank statement, PAN card details, GST and IT filing, digital KYC information required.
How can I pay my MSME Is business loan faster?
Choose bi-weekly installments and pay twice as fast as a business loan.
What is the maximum duration of a CAonWeb MSME loan?
Depending on the loan the agreement, it can take up to two years to repay the MSME loan.
What Determines Approved Loan Limits? How can I increase it?
Your credit rating and the financial position of your business, profitability, and profitability, are the decisive factors in determining the loan amount. You can increase it by improving credit ratings and optimizing operational costs through the settlement of other debt.
How can I get the most out of my MSME loan?
You can diversify your use of MSME loan funds to optimize working capital, manage inventory, and buy equipment.
What are the processing fees and pre-closure fees for MSME loans?
There is a 1-2% fee depending on the amount of the loan. There are no upfront fees for MSME loans with CAonWeb.
How do I renew my MSME loan after repayment / prepayment?
You can renew the loan with the same approval by paying the processing fee (2% of the principal).