Looking for a business loan to grow your MSME? Piramal Finance offers flexible loan solutions from ₹5 lakhs to ₹30 lakhs. Here’s everything you need to know in simple terms.
📌 Quick Loan Overview
| Feature | Details |
|---|---|
| Loan Amount | ₹5 lakhs – ₹30 lakhs |
| Tenure | 12-48 months |
| Interest Rate | Competitive rates (based on profile) |
| Age Requirement | 23-65 years (income earners) |
| CIBIL Score | No defaults in last 12 months |
| Collateral | Unsecured (no property needed) |
| Processing Time | Fast approval (subject to documents) |
💼 Who Can Apply?
✅ Self-employed professionals (Doctors, CAs, Consultants)
✅ Business owners (Manufacturers, Traders, Retailers)
✅ Service providers with minimum turnover
✅ Entities: Proprietorships, LLPs, Private Limited Companies
🚫 Who Can’t Apply?
- Daily wage workers
- Hawkers without fixed premises
- Gambling/Money lending businesses
- MLM companies
💰 Loan Programs Explained
1️⃣ Banking Program (Turnover Based)
- Loan: ₹5L-₹30L
- Based on: 6 months bank statements
- Turnover Needed:
- ₹1Cr+ (Manufacturers/Traders)
- ₹20L+ (Professionals)
- Bank Credits Must Be: 2x loan amount
2️⃣ Cash Profit Method
- For: Profitable businesses
- Loan: ₹5L-₹30L
- Documents: 2 years audited financials + ITR
- Key Ratios:
- Max CC/OD utilization: 90%
- ABB/EMI ratio: 1x
3️⃣ GST Surrogate Program
- For: GST-registered businesses
- Loan: ₹5L-₹30L
- Documents: 12 months GSTR-3B
- Profit Margins:
- 7% (Trading)
- 10% (Manufacturing)
- 12% (Services)
📋 Eligibility Checklist
✔ Business Age:
- 2 years (if property owned)
- 3 years (if rented)
✔ Bank Account:
- Min 4-8 transactions/month (based on loan size)
- No bounces in last 3 months
✔ CIBIL:
- No defaults in 12 months
- Max 5 enquiries in 6 months
✔ Residence/Office:
- 1 year stability (if rented)
📄 Documents Required
- KYC: Aadhaar, PAN
- Business Proof: GST, Udhyam certificate
- Financials:
- Bank statements (6-12 months)
- ITR (1-2 years)
- Address Proof: Electricity bill, property tax
🚀 How to Apply?
1️⃣ Check eligibility against criteria
2️⃣ Gather required documents
3️⃣ Apply online/visit branch
4️⃣ Get approval (typically within 3-5 working days)
💡 Tips for Approval
✔ Maintain clean banking history
✔ Keep GST/ITR filings updated
✔ Avoid multiple loan applications
✅ Why Choose Piramal?
- No collateral needed
- Flexible repayment options
- Special programs for GST-registered businesses
Need help? Contact us for personalized assistance!
