Faqs - L&T Finance

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How is Udyam registration useful?

Udyam registration is beneficial as it officially recognises your enterprise as an MSME, making you eligible for various government schemes and subsidies. It simplifies access to loans and credit at lower interest rates and can also help you obtain licences, approvals, and registrations more easily.

How much loan can an MSME/SME get?

SMEs and MSMEs can get a loan of up to ₹ 75 Lakh with L&T Finance.

Who can avail of an SME/MSME Loan?

Any business entity under micro, small, or medium enterprises can apply for an SME/MSME Loan. This includes proprietorships, partnerships, private and public limited companies, and other business structures.

How do I know if my enterprise is an MSME/SME?

You can determine if your enterprise qualifies as an MSME/SME based on investment in plant and machinery or equipment and annual turnover. For manufacturing and service enterprises:
- Micro: up to ₹ 1 Crore and turnover up to ₹ 5 Crore
- Small: up to ₹ 10 Crore and turnover up to ₹ 50 Crore
- Medium: up to ₹ 50 Crore and turnover up to ₹ 250 Crore

What are the requirements to get a SME Loan?

Applicants need identity proof, business proof, financial statements, and a good credit score to qualify for a SME Loan.

Who can apply for a SME Loan?

MSMEs, startups, self-employed professionals, traders, manufacturers, and business owners meeting SME Loan eligibility criteria can apply.

What is the minimum CIBIL score needed for a SME Loan?

A CIBIL score of 650+ is recommended for higher approval chances and better interest rates.

How much time does it take to process a SME Loan?

Online SME Loans are processed within 24-72 hours, while offline loans may take up to 7 days.

How is the Processing Fee for a SME Loan Calculated?

Lenders charge a processing fee of 1-3% of the loan amount, deducted before disbursal.

How is the interest rate for a SME Loan Calculated?

The interest rate depends on credit score, loan amount, business turnover, and lender policies.

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