Government Business Loan Scheme
Are you planning to embark upon a new business venture or want to avail the best business loans in India to fund your existing business?
A government business loan scheme could be the financial boost that you need to get your plan into action. The start-up expenditure and other expenses can be financially draining for any new struggling businessperson and the government is willing to rescue.
Here’s What Clix Has To Offer
Large Loan Amounts
We have SME business loans ranging from Rs 5–50 lakhs to meet every business need.
Collateral-Free Loan
We understand your ambitions and this is why we cater to your financing needs by providing you with quick and unsecured business loans.
Flexible Repayment
We understand that your business goals can’t be timed and hence we’re flexible — choose a repayment period from 12 to 36 months (48 months if you’re a self-employed professional).
Minimal Documentation
You deal with enough paperwork every day, so we keep ours to a minimum and help you get SME loan with ease.
The Function of Government Business Loans
Government business loans were introduced to fund micro, small and medium enterprises (MSMEs). There are several facets to these schemes and today’s entrepreneurs can choose the one that suits them the best through online platforms.
Types of Government Loan Schemes
The government loan schemes for new business are to aid budding entrepreneurs to set up, expand and grow their business. These schemes can be categorized under the following types of business loans:
- Working Capital Loan
- Corporate Term Loan
- Term Loan
Here are the top business loans by the government of India that you can avail for small business finance.
MSME Business Loans in 59 Minutes
The loans under this scheme are provided for financial help and inspire MSME growth in the country. The actual process takes 8-10 days, while the approval or disapproval is granted within the first 59 minutes of application.
MUDRA Loans
Micro-units Development and Refinance Agency (MUDRA) assists micro-business sectors. Since small companies and startups are often left to their own devices for financing their venture, the government has created the concept of low-cost credit to such undertakings.
Credit Guarantee Fund Scheme for Micro and Small Enterprises
The CGMSE or small business loans began to offer fiscal help to micro and small companies. It offers collateral-free loan for both new and existing business ventures that qualify the eligibility criteria. The scheme provides working capital loans up to ₹10 lakhs without any collateral.
National Small Industries Corporation Subsidy
The NSIC subsidy for minor businesses provides two kinds of financial gains – raw material assistance and marketing assistance. Under the raw material assistance scheme of NSIC, both indigenous and imported raw materials are covered. Under the marketing aid, funds are offered to SMEs for expanding their competitiveness and the market value of their products and services.
For further information, just call us on +91-120-6465400 (toll-free) between 9:30 am – 6:30 pm from Monday to Saturday (except public holidays). Alternatively, you can also write to us at hello@clix.capital to resolve your queries around such business loans.
What Documents Do I Need To Provide
We’re almost paperless (yes, really) but will need a few document to process your application:
Completed Application Form
- We will provide you with a run-of-the-mill application form to detail out all the information we need before processing your business loan request.
Passport-Size Photograph
- This photograph should be fairly recent and indicative of your current physical appearance.
Identity (ID) Proof
- This can be either your Aadhaar Card, PAN Card, or Government ID (if you happen to be a government employee).
Address Proof
- Your Aadhaar Card is the go-to document here. In case your current address is not updated in Aadhaar card, one certified copy of any Official Valid Document (OVD) is required. These OVDs are either your Passport, Voter ID, or Driving License. Your Utility Bills from the last 2 months may also apply here.
Financial Documents
- PAN Card – For Firm/Company/Individual(s) coming applying for the loan
- GSTIN
- 6-month bank statement
- Copy of the most recent Income Tax Return form along with computation of income, audited balance sheet and profit & loss account for the previous 2 years
- Proof of continuity of business of 3 years (ITR/trade license/establishment/sales tax certificate)
Proof Of Ownership
- In The Name Of The Applicant Or The Applicant’s Spouse/Parent
*Please note that while only scans or photocopies of your documents are required while applying for a loan, you might want to carry original documents in case of verification. Approving the loan application is at the sole discretion of Clix; we might ask for further documents for a more thorough assessment of your loan.
How Do I Apply For A Business Loan
Fill out
the application form.
It takes only 3
minutes!
Sit back and
relax! You are on
your way to secure a
business loan.
FAQs
How do I avail a business loan from Clix?
All you need to do is just Clix here!
Is there any restriction on the end use of my loan?
We are all about catering to your business needs! You can use the business loan for anything from expanding your capital to purchasing an equipment or machinery, or simply financing your working capital needs.
What will be the tenure, down payment, EMI, and interest rate for my business loan?
At Clix Capital, you can choose from customised repayment (EMI) and down payment options. However, the interest rate of your business loan depends on various factors, such as the specifics of your application (including metrics like business health and income). We’ll tell you the final applicable interest rate once we go through your application form and all supporting documents.
Do I need any collateral to avail this loan?
Not at all! There is no additional collateral or guarantors required to have your SME loan application approved.
How can I reach out to Clix for any other information on my business loan?
Just call us on our toll-free number at +91-120-6465400 between 9:30am-6:30pm from Monday to Saturday (barring public holidays). Alternatively, you can also write to us at hello@clix.capital to resolve your queries around business loan. Don’t worry, there are no consultation charges.
What is the schedule of charges at Clix?
Read about our approach for determining interest rates, processing and other charges here.
Click here and get ready for success
Apply now for simple, fast, and accessible loans for business from Clix.
