How to Get MSME New Business Loan After Lockdown

1
How to Get MSME New Business Loan After Lock Down

• According to Finance Buddha- "In India Micro,
  Small and Medium Enterprises/companies are the
  largest employment providers. 69 is the total
  contribution of MSME to overall employment in the
  country. MSME also holds a share of almost 45 of
  the manufacturing industry and 40 of our total
  exports in the country."
• However, MSME needs capital to grow in the market
  and several organizations provide funds for it.
• Now that 2020 is facing a lot of breakdown in the
  sectors of health, employment, and finance
  government is taking measures for it to provide
  relief to millions of small businesses rolling
  under the impact of the Covid-19 lockdown with
  various MSME loan scheme 2020, Finance Minister
  Nirmala Sitharaman on Wednesday announced for a
  collateral-free automatic loan worth Rs.3-lakh
  crore.
• To provide micro small and medium enterprises
  with equity support, the Government will also
  facilitate the provision of Rs.20,000 crore as
  subordinate debt. For the Subordinate debt for
  stressed MSMEs, promoters of the MSME will be
  given debt by banks, which will then be infused
  by promoters as equity in the Unit.
• Reason Why MSME loans are the perfect option for
  Business Loan MSME benefits-
• Minimum eligibility criteria to qualify.
• Certain Tax Benefits.
• Government based MSME loans are available.
• Gives a fair chance to all kind of business.
• It provides funds for business growth.
• MSME loans can be used for any kind of business
  requirement.
• MSME Documents required-extra documents can be
  asked if required
• KYC documents