Get a feature-packed Unsecured Working Capital Loan from Bajaj Finserv by following the given steps:
Step 1: Check whether you qualify for the loan
To avail a working capital loan without collateral, you need to meet the following eligibility criteria:
1. Have a business vintage of 3 years.
2. Your business must have filed its IT returns for the same period.
3. You should be aged between 24 to 70 years* of age (*Age should be 70 years at loan maturity).
4. Your business’ turnover for the previous year must be duly audited by a CA.
Step 2: Fill in the application form
Once you’ve qualified for an unsecured working capital loan, you can submit your loan application form in minutes.
Step 3: Keep the documents ready
After you apply for a working capital loan, you will need to hand over the documents needed to apply for a collateral-free working capital loan to our representative who comes right to your doorstep to collect them. With Bajaj Finserv you can get a working capital loan with only 2 documents i.e. business vintage proof and financial documents.
MSME stands for Micro, Small and Medium Enterprise. It was introduced by the Government of India in agreement with the Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. As per this act, MSMEs are the enterprises involved in the production, processing or preservation of goods and commodities. Vital for economic growth, this sector contributes around one-third of the country’s GDP and generates employment for around 110 million of the population.
It also plays an important role in the socio-economic development of the country as many of these enterprises operate in rural India. According to the Government's annual report of 2018-2019, more than 6 lakh MSMEs operate in the country.
Initially, MSMEs were classified based on two factors - investment in plant/machinery and an annual turnover of the enterprises. However, the Ministry of Micro, Small and Medium Enterprises has recently revised the classification by combining these two factors into a single criterion.
The MUDRA loan is provided under the Pradhan Mantri MUDRA Yojana (PMMY) to non-farming and non-corporate micro and small enterprises. These enterprises can avail loans up to Rs.10 lakh under the MUDRA (Micro Units Development & Refinance Agency Ltd.) scheme.
We have discontinued this product (MUDRA Loan) at this time. Please reach out to us on +91-8698010101 to know more about the current financial services provided by us.
|Loan amount under Shishu||Up to Rs.50,000|
|Loan amount under Tarun||Rs.50,001 to Rs.500,000|
|Loan amount under Kishore||Rs.500,001 to Rs.10,00,000|
|Processing fees||0.5% for Tarun Loan, nil for others|
|Eligibility criteria||New and Existing Units|
|Repayment period||3-5 Years|
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