SME Loan

An SME loan, a type of business loan, is designed for those who are planning to start their own business to make a progressive impact on the industry and society. Such credit facilities make it easier for promoting and supporting local industries and the overall economic growth of India.

The borrowers must repay the loan amount at a fixed interest rate. SME loans stand as the best option to raise funds for anyone who is looking to start a business and for medium enterprises to further expand their business. There are many lenders in the market, and multiple attractive offers are available. Usually, a well-designed business plan is all it takes to get a loan in the range of Rs.5 lakh-Rs.5 Crore.

Under SME loans, there are several types, such as working capital loans, term loans, equipment loans, Pradhan Mantri Mudra Yojana Stand Up India scheme, and others.