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Get lending solutions to accomplish all your evolving business needs.
Give your business that much-needed push with SME/MSME Loans from ICICI DIRECT.
Specially designed for small and medium enterprises, SME loans from ICICI Bank will give your business the momentum it needs.
A common challenge faced by almost all SME enterprises is availing a formal source of financing. Small and micro enterprises typically work with very low working capital and have several financial requirements to be met. Here’s where applying for an SME Loan can prove to be very beneficial.
The enterprise can get a significant amount to finance its operating expenditure, buying raw materials and machinery, spending on advertising and marketing, executing expansion plans, or any other business requirement that can be met hassle-free.
There are several loans under government schemes as well that can be availed at flexible repayment terms. You can apply for any loan by visiting the nearest bank branch or online. Apply for a loan and work towards taking your business to new heights today!
MSME stands for Micro, Small, and Medium Enterprises. These enterprises have a lower valuation in comparison to large enterprises. Refer to the following table for a more detailed classification of MSME enterprises:
| Enterprise | Investment in Plant & Machinery or Equipment | Turnover |
|---|---|---|
| Micro | Less than Rs 1 crore | Less than 5 crore |
| Small | Less than 10 crore | Less than 50 crore |
| Medium | Less than 50 crore | Less than 250 crore |
The MSME enterprises can be operating in both the manufacturing and service sectors.
A Small Enterprise is any manufacturing enterprise with an original investment value of Rs. 25 Lakhs up to Rs. 500 lakhs (for plant and machinery). It may also be a service enterprise with an original investment value of Rs. 10 Lakhs up to Rs. 200 lakhs.
A Medium Enterprise is any manufacturing enterprise with an original investment value of Rs. 500 Lakhs up to Rs. 1,000 lakhs (for plant and machinery). It may also be a service enterprise with an original investment value of Rs. 200 Lakhs up to Rs. 500 lakhs.
Yes you need to complete the due KYC compliance process. You are required to open an account with ICICI Bank by submitting your PAN, Aadhaar and other relevant ID, address, and income proof documents.
SME loans come with varying repayment tenures. It depends upon the type of SME Loan you apply for.