Faqs - L&T Finance

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Can I apply for an SME Loan without providing a business plan?

A business plan may not be mandatory for all SME Loans, but it is strongly recommended. It helps lenders understand your loan utilisation and repayment capacity.

How do I calculate my SME Loan EMIs?

Use an online EMI calculator by entering the loan amount, interest rate, and tenure to estimate your monthly payment.

Who is eligible for SME Loan?

Businesses registered under MSME or Udyam criteria, with a proven operational history, sufficient turnover and valid documentation are eligible for MSME Loan.

Are tax returns required for all types of SME Loans?

Yes, most lenders require ITRs to assess financial stability. However, specific requirements may vary by lender.

Is there a minimum business age requirement for the documents submitted for an SME Loan?

Generally, businesses must be operational for atleast 3 years, but requirements may differ based on the lender.

Can I submit electronic versions of documents for my SME Loan application?

Yes, most lenders accept scanned or electronic copies of documents, ensuring they are clear and legible.

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