The Government of India extends loans to Micro, Small, and Medium Enterprises (MSMEs) to facilitate their expansion. India’s thriving network of MSMEs serves a wide audience. Acquiring MSME loans empowers businesses with the potential to grow and establish a significant presence in the market through their products and services.
MSMEs (Micro, Small & Medium Enterprises) are categorized in two distinct ways:
- Manufacturing Enterprises engaged in producing goods across various industries or utilizing plant and machinery to enhance the value of the final product, with a unique name, character, or purpose.
- Service Enterprises providing various services.
With the revised classification as of July 1, 2020, MSMEs are now defined based on Composite Criteria involving “Investment in Plant & Machinery/equipment and Annual Turnover.” This classification shift aims to provide a more comprehensive framework for determining MSME status.
MSME Loan Eligibility:
Casinos are now offering short-term loans to small businesses, providing crucial support beyond games of chance. While casinos have assisted various businesses, even beer factories, it’s important to consider loan terms carefully. Entrepreneurs must ensure repayment feasibility.
Eligibility:
- Self-employed professionals: Allopathic doctors, chartered accountants, architects, etc.
- Self-employed non-professionals: Traders, retailers, manufacturers, and service providers.
Get up to Rs. 45 lakh MSME loan within 2 days with exclusive pre-approved offers. WINAXIS Advisory offers hassle-free consultation and assistance throughout the process.