Overview
Micro, Small, and Medium Enterprises (MSMEs) are vital to India’s socio economic growth but often struggle with obtaining timely funding. PSB59 is designed to ease this challenge by providing quick access to financing, helping MSMEs secure funds for their business needs efficiently. With PSB59, MSMEs can receive digital loan approvals ranging from ₹10 lakh to ₹5 crore within just 59 minutes through a simple, single application, streamlining the credit process and empowering businesses to grow without delay.
Key points
- High Loan Amount: Loans up to ₹5 crore at competitive interest rates.
- Low Interest Rates: Starting from 8.5% per annum.
- Simple Process: Single application for easy processing.
- Seamless Integration: Direct connection with statutory bodies and CGTMSE.
- Flexible Tenures: Tailored repayment options for convenience.
- Term Loan: Can be used for various business needs, such as purchasing new machinery or expanding into new markets.
- Working Capital Loan: Provides short term funding to boost cash flow and ensure smooth day to day operations.
- Income Tax Return (ITR): For Working Capital Loan: Latest 1-year ITR in XML format. For Term Loan: Last 3 years ITR in XML format.
Benefits of MSME Loan
- High Loan Amount: Loans up to ₹5 crore at competitive interest rates.
- Low Interest Rates: Starting from 8.5% per annum.
- Simple Process: Single application for easy processing.
- Seamless Integration: Direct connection with statutory bodies and CGTMSE.
- Flexible Tenures: Tailored repayment options for convenience.
Types of Loans under MSME loan
- Term Loan: Can be used for various business needs, such as purchasing new machinery or expanding into new markets.
- Working Capital Loan: Provides short term funding to boost cash flow and ensure smooth day to day operations.
Documents required for MSME Loan
- GST Registered Business: Sales details fetched automatically from the GST portal using GSTIN and username. If not, GST registered, manually declare 12 months of sales details.
- Income Tax Return (ITR): For Working Capital Loan: Latest 1-year ITR in XML format. For Term Loan: Last 3 years ITR in XML format.
- For Working Capital Loan: Latest 1-year ITR in XML format.
- For Term Loan: Last 3 years ITR in XML format.
- Bank Statements: Latest 6 months’ bank statements in PDF format, downloadable from net banking or mobile banking apps. Multiple files can be uploaded if needed.
- Other Business Details: Business and loan requirement information.
How StartupSavera handles it
Handled by us
Scoping, document checklist, application drafting, filing and status updates.
End to end
One accountable point of contact, from the first call to the final certificate.
Owned by you
Every login, registration and account is created in your name.
FAQs
How do I get started with MSME Loan?
Share your details through the form or WhatsApp. We'll send a document checklist and a clear scope and quote after a quick call, no guesswork.
Will I own all the accounts and registrations?
Yes. Every login, registration and account is created in your name and handed to you, with a clear scope and no surprises.
Who handles the msme loan process?
We do, StartupSavera handles msme loan end to end, from documents to filing, and keeps you to one accountable point of contact the whole way.