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            • Home
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            • Business Loan for MSME/SME

            Business Loan for MSME/SME

            • Loan up to ₹50 Lakh
            • Collateral Free Loan
            • Instant Approval
            Apply Now
            • Overview
            • EMI Calculator
            • Eligibility
            • Documents Required
            • Interest Rate & Charges

            Apply for MSME/SME Business Loan with Easy Disbursal Process

            Are you an entrepreneur with big dreams of business expansion? Do you have an excellent idea for growth but do not have sufficient funds to exercise it? You are not alone. Many SME owners in India face this challenge. Here, an MSME Business Loan from Hero FinCorp is the best funding solution that can help achieve these goals. 

            Every business should have enough capital to expand the company, ensure smooth operations, or stay ahead of the competition. An MSME loan provides enough capital to invest in different business aspects, such as daily operations, investment in capital assets, expansion goals, debt obligations, acquisitions, etc. In such cases, many companies resort to external funding sources like MSME finance.

            At Hero FinCorp, you can obtain an SME loan of up to Rs 50 Lakh without any end-use restrictions. The interest rates are attractive, and repayment terms are flexible, with tenures up to 48 months. Let’s learn more about the Hero FinCorp MSME loan scheme and learn how to apply for an MSME loan.
             

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            Features and Benefits of MSME/SME Loan Scheme

            Before proceeding to apply for an MSME loan online, let's understand the features and benefits of the Hero FinCorp SME loan scheme:
             

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            High Loan Amount

            SME finance up to Rs 50 Lakh with no end-use restrictions for various business needs.
             

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            Attractive Interest Rate

            Hero FinCorp SME loan interest rates start at 14% annually, based on credit and eligibility factors.
             

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            Collateral Free

            Hero FinCorp MSME Business Loans are collateral-free, making funds accessible without asset risk.
             

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            Flexible Repayment Tenure

            Hero FinCorp offers MSME loans with flexible terms up to 48 months; use an EMI calculator. 
             

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            Quick Approval

            Hero FinCorp’s 100% digital MSME loan process ensures quick approval through automated verification.
             

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            Minimal Paperwork

            Hero FinCorp offers MSME loans with minimal paperwork; apply online and upload scanned documents.
             

            Eligibility Criteria for MSME/SME Loan

            As the MSME full form suggests, an MSME loan is a specialised loan for India's micro, small, and medium enterprises. However, you must fulfil a few eligibility conditions to qualify for MSME financing in India. These include the following:

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            Age

            Applicants must be between 25 and 65 years old at loan term end.
             

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            Nationality

             You should hold Indian citizenship at the time of MSME loan application.
             

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            Occupation

            Self-employed professionals, non-professionals, and entities like LLPs, firms, and trusts are eligible for MSME loans.

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            Business Status

            You should have at least five years of experience in the current business.
             

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            Maximum Loan Tenure

            You should choose a maximum repayment tenure of up to 48 months to qualify for an MSME loan online.

            Maximum Loan Amount

            The loan amount you apply for a Business Loan is Rs 50 Lakh.
             

            Minimum Income

            Hero FinCorp has no minimum income requirement for sanctioning SME loans in India.
             

            Calculate Your Loan Eligibility

            Documents Required to Apply for MSME/SME Business Loan

            If you want to know how to get an MSME loan from Hero FinCorp, you must also understand the documentation requirements. However, you don't need to submit physical paperwork. You can upload their scanned copies online to apply.
             

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            Mandatory Documents

            KYC documents for all business partners, stakeholders, and directors

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            Proof Of Identity

            Aadhaar Card, PAN Card, passport, or any other valid identity proof issued by the government

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            Business Address Proof

            Utility Bills, bank statements, or another document to verify your business address

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            Business Continuity Proof

            Partnership deed, certificate of incorporation, or another registration document verifying your business structure

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            Income Proof

            Bank statements for both personal and business accounts showing your cash flow

            Other Documents (if applicable)

            Balance sheets, profit and loss statements, past few years’ ITR showing your business performance

            Interest Rates and Charges on MSME/SME Loan

            Hero FinCorp provides SME financing in India at the most competitive interest rates, starting at 10% per annum. That means you can cover most business-related expenses with an MSME Business Loan without significantly increasing costs. Thanks to the completely transparent procedure, there are also no hidden charges. A few charges you should be ready to pay include the following:
             

            Maximum Loan Amount

            ₹5 Lakh to ₹ 50 Lakh

            Maximum Loan Tenure

            1 Years (Min.) – 4 Years (Max)

            Interest Rate

            Starting from 14% P.A.

            Processing Fee

            Minimum Processing fee is 1%+ GST

            Foreclosure Charges

            As described in Sanction Letter cum KFS

            Read More

            How to Apply for a Business Loan for MSME/SME?

            Want to learn how to apply for an MSME loan? These are the steps to follow:
             

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            • 1

              Visit the Hero FinCorp website and reach the Business Loan page.

            • 2

              Fill out a business loan application form and upload the required documents.

            • 3

              Enter the Business Loan amount and select repayment tenure.

            • 4

              If you fulfil the eligibility criteria, you will receive a reference number.

            • 5

              A representative will contact you for further details.

            Apply Now

            Frequently Asked Questions

            Although Hero FinCorp does not require a minimum CIBIL score for MSME loans applied online, applicants with decent credit scores above 700-750 get the most favourable loan deals.

            When you borrow an MSME Business Loan from Hero FinCorp, you can choose a repayment tenure of 12-48 months. The tenure you select depends on your monthly EMI repayment capacity. The longer the tenure you choose, the easier the EMIs will be. However, a longer tenure also increases the interest outgo. Therefore, a business loan EMI calculator can be used to determine a tenure of up to 48 months with budget-friendly instalments.
             

            You can prepay an MSME loan before the term completion. However, Hero FinCorp allows prepayment only after twelve months of borrowing. Read the sanction letter carefully for information about other conditions and prepayment charges.
            Online search engines and comparison websites are the best sources for comparing SME Business Loan offers from various lenders. You may also use an EMI calculator to calculate EMIs for various loan terms and loan amounts and select a loan plan with pocket-friendly instalments.
            At Hero FinCorp, you can select an SME loan term limit of up to 48 months. An EMI calculator can help choose a tenure with affordable EMIs.

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