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SMEs and MSMEs can get a loan of up to ₹ 75 Lakh with L&T Finance.
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.
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.
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: Investment up to ₹ 1 Crore and turnover up to ₹ 5 Crore
- Small: Investment up to ₹ 10 Crore and turnover up to ₹ 50 Crore
- Medium: Investment up to ₹ 50 Crore and turnover up to ₹ 250 Crore
No, there is no application fee but other charges apply.
The maximum tenure for an SME Loan is 60 months with L&T Finance.
Yes, applicable taxes like GST may be added to processing fees and other charges.
Yes, a charge of 2% plus applicable taxes is applicable for prepayment of a loan.
Yes, negotiation is possible, especially if you have a strong credit profile and business stability.
A higher credit score often results in lower MSME interest rates due to reduced lender risk.
