Do you know the difference between an SME and an MSME loan?
An MSME loan and an SME loan aren’t very different, but what matters is the government’s classification of Micro and Small-sized enterprises. Based on the category your business falls into, your business could be eligible for government support and different SME loan products with formal lenders.
Your business classification is dependent on your annual turnover and how much money you have invested in your business. When you apply for an SME loan with a formal lender, these factors also impact the loan terms (loan amount, interest rate, loan tenor, etc.) the lender will offer you.
If your business falls under the SME category and your business needs financing, CreditEnable is here to help you find the right loan at the right time with the right lender! We partner with over leading lenders in India who offer 100+ specialized SME loan products on our technology platform to choose from!
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