Government Loans for Small Businesses
Are you searching for government schemes to help finance your small-scale business in India? The main hurdle for any entrepreneur or for expanding an existing venture is the financing part. Though the small and medium enterprises make the backbone of Indian economy, most of the SME owners face a lot of problem due to the non-availability of credit. Additionally, a lot of lenders ask for collateral security which not many first-time SME owners may be able to provide.
Additionally, a lot of lenders ask for collateral security which not many first-time SME owners may be able to provide.
However, there are several schemes in India that help give wings to the dreams of entrepreneurs. A business loan secured under a government scheme or program is always favorable due to its lower interest rates. In India, both the central and the state government have framed various schemes to cater to the financial requirement of small businesses segments across the country.
Many public-sector banks like State Bank of India (SBI), Canara Bank, Allahabad Bank, Andhra Bank, and Bank of Baroda offer various financial schemes to SME owners. These schemes help entrepreneurs obtain credit at a low interest rate in a hassle-free manner—provided all your documents are in place.
Products and services offered by these banks are—working capital loans, short-term loan, corporate term loans, the line of credit, etc.
Apply for Government Loans for Small Businesses in India
If you are looking for a Government Loans to fund your small medium enterprise, and are unsure about how to apply, then CreditMantri can guide you. You can typically apply for a business loan which can be utilized as working capital for your business, and to cater to other needs of your business.
You can check your eligibility and apply for a business loan by signing up with CreditMantri. It is quick, simple and above all, free.
CreditMantri matches your credit and demographic profile to the lender's lending criteria and presents you a shortlist of only those lenders willing to lend to you based on your unique credit profile. In effect, we pre-screen your application to make sure you are likely to qualify as per the lender's credit criteria. Hence, the chances of your business loan application getting approved are higher.
Click here to sign up and apply for loans, the CreditMantri way!