SMEcorner Business Loan

Overview SMEcorner Business Loan

SMEcorner business loan is offered by SMEcorner which is an emerging non-banking financial institution. It offers financial services to small and medium enterprises (SMEs) in India. SMEcorner offers business loans at interest rates starting at 19% and flexible repayment options. The financial institution’s objective is to cater to the lending needs of SMEs through proprietary online platforms.

SMEcorner business loan – top features

Listed below are the noteworthy features of the business loans offered by SMEcorner:

• Interest rate - 19% onwards. This is applicable for unsecured business loans
• Loan repayment tenure – Ranges between 12 – 36 months
• Collateral against the loan - not required
• Minimum loan amount - Rs. 50,000
• Maximum loan amount - Rs. 25 lakhs
• Loan processing fees - Maximum 3% of the loan amount
• Foreclosure charges - 5% on the principal outstanding
• Business experience – business should have been in existence for at least 3 years
• Minimum business turnover - Rs. 25 lakhs

SMEcorner business loan for working capital

Here are the top features of working capital loan offered by SMEcorner:

• The interest rate on loan - 20% onwards
• Loan repayment tenure - maximum 36 months
• Collateral against loan required - No
• Minimum loan amount - Rs. 50,000
• Maximum loan amount - Rs. 25 lakhs
• Minimum business turnover - Rs. 25 lakhs
• Business experience – business should have been established for a minimum of 3 years
• Pre-payment charges - 4% of the principal amount outstanding

SMEcorner Business Loan – who can apply:

Here is the list of entities that are eligible to apply for SMEcorner business loans:

• Proprietorship firms
• Partnership firms
• Self-employed individuals
• Small and medium enterprises

SMEcorner Business Loan – what are the benefits:

Here are the top benefits to be availed from SMEcorner business loans:

• The financial institution disburses the loan amount within as little as 3 business days
• Businesses can avail of a loan tenure of up to 36 months
• There is no need to provide collateral against business loans from SMEcorner
• With quick processing of business loans, businesses can meet their financial requirements at the earliest without causing any stress on the operations
• The NBFC ensures fast disbursement of the loan without any hassles
• Businesses can instantaneously check their eligibility for SMEcorner business loans
• These loans require minimal documentation
• The NBFC offers relationship management services to businesses for fast query resolution

What are the documents required for SMEcorner business loan applications?

Here is the list of documents needed for SMEcorner business loan applications:

• Filled and signed application form
• Recent passport-sized photographs of the applicant
• KYC documents of the business partner, proprietor, director, etc.
• Bank statements of the past 9 months
• Evidence of business continuity
• Proof of residence of proprietors
• Proof of office ownership
• GST certificate
• Certificate of SSI registration
• Copy of Shop and Establishment Act registration

About SMEcorner

SMEcorner is one of India’s leading new-age lending institutions offering fast access to business loans. The NBFC specially caters to the micro, small & medium enterprises(MSME) segment in India.

With its headquarters in Mumbai, it currently operates across 21 states including 61 cities. The company’s mission is to provide customized credit solutions through modern technology and in-depth analytics to assist Micro, Small and Medium Enterprises in a fast and efficient manner with credit solutions.

The NBFC offers products such as unsecured business loans, loans against property and special financial solutions such as MSME loans and loans for women entrepreneurs to meet the working capital needs and offer encouragement to women entrepreneurs in India.

End Note

Small businesses are the backbone of the Indian economy. As SMEs play a crucial role in offering large-scale employment opportunities, they also contribute to the socio-economic development of the nation. However, SMEs in India often face many challenges that halt their growth. The inception of SMEcorner has been with the objective of providing working capital access to such SMEs in India.

FAQS