Primary Document and Key Feature of MSME Loans

As per our finance minister there are many scheme for MSME’s regarding their business loans for MSME’s the Key feature of New MSME Loans

• Collateral Free Loans to MSMEs
• MSME Loans worth of Rs. 3 lakh crore
• Moratorium period offered is 12 months
• Manufacturing and Service MSMEs shall be considered as same entities
• Repayment Tenure of 48 months
• 100% Credit Guarantee
• To benefit approx. 45 lakh units

MSME loans are going to start. These loans will be sanctioned and disbursed in a very short period of time after some time this facility will not available, as banks having limited funds to distribute as MSME’s loans. If anyone wants loans under these schemes they need to arrange the following Primary documents as mention below:

For Individual List of document

1. MSME Registration
2. KYC applicant & co-applicant
3. Address proof electricity bill
4. GST registration
5. Vintage proof (vat registration)
6. Office address proof electricity bill/rent agreement
7. 3 year financial
8. 1 year all current account statement
9. 6-months saving account statement
10. 1-year GSTR 3b
11. CIBIL report

For partnership List of document

1. MSME registration
2. KYC of All partners
3. Address proof electricity bill
4. Partnership Deed
5. GST Registration
6. Vintage proof (vat registration)
7. Office address proof electricity bill/rent agreement
8. 3 year financial
9. 1 year all current account statement
10. 6 Month saving Account statement
11. One year GSTR 3b
12. CIBIL Report

For company List of document

1. MSME registration
2. KYC of All Directors
3. Address proof electricity bill
4. GST registration
5. Vintage vat registration
6. Office address proof electricity bill/rent Agreement
7. 3 year financial of Company
8. 1 year all current account statement
9. 6 month saving account statement of All Directors
10. 1 year GSTR 3b
11. MOA
12. AOA
13. COI
14. LIST OF Direct and Shareholders Ca certified
15. List of Debtor
16. CIBIL report

Following points should be considered while assessing primary eligibility:
1) Chq/EMI bouncing in last year and CIBIL defaulting cases will not be acceptable.
2) Travel, Real Estate, aviation, hotel, and closed businesses will be very less eligible.
3) Latest ITR A.Y. 2020-21 and 2021-22 should be of a minimum of 5 lac.
4) The business should be a minimum of 2 to 4 years old.
5) There should not be an excessive dip in turnover and net profit 2019-20 and 2018-19.