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MSME Loan for New Business I Interest Rates l Eligibility l Application l Documents

For detailed information on loan for new business, click here - https://cleartax.in/s/sme-loans Small and Medium Enterprises (SME) contribute to 40% of India’s exports and stand next to agriculture as the second most practised occupation. A small enterprise is an entity that has an investment in plant, machinery and equipment up to Rs.10 crore and annual turnover up to Rs.50 crore. A medium enterprise is an entity that has an investment in plant, machinery and equipment up to Rs.50 crore and annual turnover up to Rs.250 crore. The interest rate for SME loans may vary based on the loan scheme you want as well as the financial institution. Usually, it may range from 8.40% p.a. to 24% p.a. Though the specific eligibility criteria may vary among lending institutions, they mostly have a set of essential rules for SME loans. The rules for the eligibility criteria are discussed in the video. Once you choose the lender to apply for an SME loan, you have to collect the SME loan application form from that lender. You will have to fill the application form containing the general details and submit it along with the required documents. The details to be filled in the application form and the required documents are discussed in the video. If you liked this video please do like, comment, and share the video. #SME #SMEloans #SMEloanapplication #SMEloaneligibility #SMEbusinessloan #ClearTax