Who We Are
Business Loan For MSME Overview
MSME Loans
MSME (Micro, Small and Medium Enterprises) loans are designed to benefit small and medium enterprises. It is also referred to as SME (Small and Medium Enterprises) loans. But, the purpose and essence of financial assistance remain the same. Small business owners, entrepreneurs and start-ups benefit from these loans. They can be used for a number of purposes ranging from expanding the existing business to increasing liquid cash flow or to improving the infrastructure of a small business. Lenders provide MSME loans on a short-term basis and offer varied interest rates. At Nitstone Finserv, we are dedicated to offering the best financial aid at extremely attractive rates. Choose the best MSME loans at Nitstone Finserv and enjoy multiple benefits.
Benefits & Features
Hassle-free Loan Application and Approval Process
Simple Application and Review Process Here are some of the benefits you can rely on: • Convenient application steps • Quick assessment of submitted forms • Transparent terms and conditions • Options based on submitted documents • Access your account online to manage and distribute funds
Eligibility & Documents
Eligibility Criteria
Since MSME loans are provided based on eligibility evaluation and documentation, lenders follow certain parameters. Visit our website and complete the application form to check your eligibility. However, there is a general guideline that needs to be met to apply for these loans. Let’s check them out.
Business must be involved in the service or manufacturing sector
Investment limits vary between micro, small and medium enterprises
Loans between Rs 25 lakh and Rs 10 crore may be offered, depending on the size of the firm
Documents for Loan Application
At Nitstone Finserv, we aim to make your loan application procedure clear and straightforward. Fill up our online form and upload the required documents for application review. Let’s check out the list of essential documents.
- Address Proof
- Identity Proof
- Business Address Proof
- Income Tax Returns
- Last 3 years’ balance sheet
- Sales Tax Returns
- Project Reports
Depending on the size of your business and the kind of investment you are planning, additional documents may be required. Get in touch with our representatives for a detailed plan. You can also make use of our online calculator to understand the possible repayment amount.
We also provide competitive options for SME loans. Whether you want to improve your workspace, purchase machinery, hire employees or expand to another city, Nitstone Finserv is available to support you with practical financial solutions.
Ready to Apply
Apply NowHow to Apply
Step 1
Click on Apply to access our online form. Complete the details and submit the application.
Step 2
A Nitstone representative will review your application and contact you to discuss the next steps.
Step 3
Provide the required documents for verification.
Step 4
Loan processing will proceed according to standard verification and approval procedures. T&C*
Fees & Charges
|
|||
|---|---|---|---|
| Rate of Interest | 16% - 30% | ||
| Processing fees | 2% of the loan amount will be deducted at the time of disbursal of approved loan amount | ||
| EMI bounce charges | Rs.2500 will be charged in the subsequent month for every bounce | ||
| Penal interest | 2.00% p.m. overdue charges will be levied basis 360 days per year |
Foreclosure Charges
| Borrower Type: Interest Type | Time Period (Months) | Foreclosure charges |
|---|---|---|
| NA | >1 | 4% plus applicable taxes on principal outstanding * |
- Foreclosure: charges will be applicable on the current principal outstanding.
- Foreclosure charges for line of credit and Flexi loans will be calculated on the Current principal outstanding.
Part prepayment charge
| Borrower Type: Interest Type | Time Period (Months) | Part payment charges |
|---|---|---|
| NA | >1 | 2% plus applicable taxes on part payment amount paid |
- Part payment made should be more than 1 EMI
- Nil part payment charges for flexi