Service Details

Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the Indian economy. They drive innovation, create jobs, and foster economic growth. However, accessing finance is one of the major challenges faced by MSMEs. Clear Credit offers MSME Loans designed to provide small businesses with the necessary financial support to grow, expand, and thrive.

Whether you’re looking to invest in new equipment, expand your operations, or manage working capital, Clear Credit’s MSME Loans are tailored to meet the unique needs of your business. With competitive interest rates, flexible terms, and a simple application process, we help MSMEs unlock their true potential.

Why Choose Clear Credit for MSME Loans?

• Tailored Solutions: We understand that every business is different, so we offer loans tailored to meet the specific financial needs of MSMEs.
• Fast Disbursal: We know that in business, time is money. Our MSME loans are processed quickly, ensuring you get the funds you need without delays.
• Flexible Loan Amounts: Borrow as per your business requirements, with loan amounts ranging from ₹50,000 to ₹50,00,000.
• No Collateral for Small Loans: For smaller loans, no collateral is required, making it easier for businesses to access funds.
• Expert Advice: Our financial experts guide you through the loan process and help you choose the right financing option for your business.

How MSME Loans Work

1. Loan Application: Apply online or visit a Clear Credit branch with your business details and financial documents.
2. Loan Evaluation: We evaluate your business’s financial health, growth potential, and loan requirements.
3. Loan Approval: Once approved, we provide you with a loan offer, including the loan amount, interest rate, and repayment terms.
4. Disbursement: The loan amount is disbursed quickly, allowing you to use the funds for business needs.
5. Repayment: Repay the loan in easy EMIs over a flexible tenure that suits your business cash flow.

Eligibility Criteria for MSME Loans

To qualify for an MSME Loan from Clear Credit, businesses need to meet the following criteria:

• Business Registration: Your business must be registered under the MSME category.
• Operating History: A minimum of 2 years in operation is preferred.
• Turnover: Demonstrating consistent business turnover increases loan eligibility.
• Credit Score: A good credit score improves loan approval chances.

Documents Required for MSME Loans

• Business Registration Proof: GST registration certificate, Udyog Aadhaar, or company incorporation documents.
• Financial Documents: Profit & Loss statements, balance sheets, bank statements for the past 6 months, and income tax returns.
• Identity and Address Proof: Aadhar card, PAN card, passport, or voter ID for business owners.
• Photographs: Passport-size photographs of the business owner(s).

Interest Rates and Fees

Clear Credit offers competitive interest rates for MSME Loans, helping businesses access affordable credit:

• Interest Rate: Typically starts from 12% per annum, depending on the loan amount and business profile.
• Processing Fees: 1% to 2% of the loan amount.
• Prepayment: Clear Credit allows prepayment of MSME loans with minimal charges, helping you reduce your interest burden.

Benefits of MSME Loans

1. Business Expansion: Use the loan to open new branches, purchase equipment, or hire additional staff to grow your business.
2. Working Capital: Ensure smooth operations by using the loan to manage day-to-day expenses like inventory, salaries, and utility bills.
3. Cash Flow Management: MSME loans can help businesses maintain a healthy cash flow by covering short-term liabilities.
4. No Collateral for Small Loans: For loans under ₹10 lakhs, no collateral is required, making it easier for small businesses to access funds.
5. Improve Credit Health: A well-managed MSME loan can improve your business’s credit score, helping you access larger loans in the future.

Use Cases for MSME Loans

• Equipment Purchase: Invest in new machinery or technology to improve productivity and efficiency.
• Inventory Management: Purchase inventory in bulk, reducing costs and ensuring you meet customer demand without delays.
• Business Expansion: Open new branches or expand your product line with the funds from an MSME loan.
• Hiring New Staff: Use the loan to recruit skilled employees, helping you scale operations and serve more customers.

How to Apply for an MSME Loan

1. Apply Online or In-Person: Visit our website or nearest branch to fill out the loan application form.
2. Submit Documentation: Provide business registration, financial documents, and identity proofs for verification.
3. Loan Approval: Once approved, receive a loan offer detailing the loan amount, interest rate, and repayment tenure.
4. Disbursement: The loan amount is disbursed directly to your business bank account.