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Business Loan in India

A business loan in India can be easy with government schemes obtained through various lending institutions channels such as banks, non-banking financial companies (NBFCs) and financial institutions.

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Business Loan in India

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  1. Business Loan in India

  2. How to Get a Loan to Fund Your business? A business loan in India can be easy with government schemes obtained through various lending institutions channels such as banks, non-banking financial companies (NBFCs) and financial institutions.  Government Schemes There are five main government schemes that can be used by a small and medium business loan in Indiato continue a business, digitize it or to buy machinery or equipment to run it. PradhanMantri MUDRA Yojana (PMMY): Under PMMY Scheme, non-corporate, non-farm small or micro-enterprises can avail loan of up to Rs. 10 lakhs. These loans are often provided by commercial banks, regional rural banks, small finance banks, co-operative banks, mutual funds institutions, and NBFCs.

  3. Credit Guarantee Fund Scheme for Micro and Small Enterprises:This type of business loan in Indiascheme can be availed by new and existing micro and small enterprises engaged in manufacturing or service activity excluding educational institutions, agriculture, self-help groups and training institutions. However, this scheme assist with fund and non-based letters of credit and the bank guarantees credit facilities availed up to Rs. 200 lakh per eligible borrower. National Small Industries Corporation Subsidy (NSIC): This scheme facilitates funds to MSMEs in fund-based or non-fund-based fund-based limits of up to Rs.5 lakh from the lending institutions. Under NSIC, all medium and small enterprises (MSEs) with a UdyogAadhaar Memorandum (UAM) are eligible to apply under the Single Point Registration Scheme offered by the NSIC.

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