To get a Small Business Loan from Bajaj Finserv, all you have to do is meet the lender’s eligibility criteria and handover just 2 documents to our representative who comes right to your doorstep to collect the documents.
Here are a few simple eligibility criteria that you can fulfil to get a start-up business loan without collateral:
• You must be aged between 24 to 70 years* (Age should be 70 years at loan maturity)
• You must have a business operational for a minimum of 3 years
• You must have a CIBIL score of 685 or higher
Skip the delays by applying for a Bajaj Finserv Business Loan without pledging any collateral:
• You don’t have to put any of your business or personal assets on the line to qualify for funding.
• Since there is no need for evaluation of assets, you receive funding faster
• Get a loan up to Rs.45 lakh in just 24 hours with minimal paperwork.
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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