Micro Loan Apply
We understand the deep-rooted need for the people to raise their living standards and income levels. We also understand that access to low-ticket credit can be big step for people who have big dreams and limited means of achieving those dreams. MicroFinance Loan from Micro Finance Software By IDSPaythat provide access to reliable and affordable financial services to create a powerful economic platform for all.
Key Features
Micro Finance Software By IDSPayMicro Finance provides thrift credit and other financial services and products of small ticket size to lower segment of customers predominantly in rural areas, semi urban and urban areas. Since we understand how important a small loan can be to achieve entrepreneurial dreams you thought were never possible, we make the process of microfinancing easier, with simple and quick loan approval and disbursal.
A Bouquet of Microfinance Loan Options
Microloans For Women
Quick & Easy Terms
Joint Liability Group
Loan to joint liability of women borrowers
Loan Amount
Avail loans from Rs. 30,000 to Rs. 1,10,000
Loan Tenure
Loan tenure between 24 to 36 months
Monthly Repayment
Pay your loans in easy Monthly EMIs
Business Loan for Womens : Fees & Interest Rates
Women today are no longer limited to being homemakers anymore. They have ambitions, and dream of starting something on their own. This brings forth a new set of challenges, which is financing their entrepreneurial journey. This can be easily resolved with the help of a Micro Finance Software By IDSPayMicro Finance business loan for women.
Business loan interest rates at Micro Finance Software By IDSPayare lowest as compared to others. The rate of interest largely depends on the amount of loan requested, the tenure selected, the applicant’s profile and credit history, and their current financial status.
There is also a processing fee component which can be up to 6.5% of the loan amount. Typically, Micro Finance Software By IDSPayMicro Finance offers loans with a repayment period of anywhere between 12 and 48 months. If you intend to foreclose the loan, a prepayment charge may be applicable ranging between 0% to 7%.
| Commonly Asked Details | Micro Finance Software By IDSPayMFI Business Loans for Women |
|---|---|
| Is there any processing fee? | Yes, it may be up to 6.5% of the loan amount |
| What is the loan tenure? | Between 12 months to 48 months |
| Are there any pre-closure charges? | Yes, the prepayment charges range from 0% to 7% |
| What are the eligibility criteria? | Turnover should be at least INR 10 lakhs* with 2 years of profit-making business. Minimum eligibility criteria can be checked. |
| Unsecured Business Loan Amounts | Loan amounts range from INR 50,000 to INR 75 Lakhs |
Calculate your Loan EMI
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Disclaimer: Please note that this calculator is simply a self-planning tool, and is for demonstration purposes only. Your final EMI amount will depend on many factors, and will be disclosed in the schedule shared with you after loan approval. For more details, please contact us
Microfinance is an agent of economic change and we make it available to rural and semi-urban people aiming to become business owners. The eligibility criteria to get the loan are minimal, encouraging more women to take credit to become entrepreneurs.
On the lines of the Grameen bank scheme, Joint Liability Groups of 5-10 women is formed.
Each member of this group should be a part of economic activity.
The venture should be sustainable, legal and capable of maintaining a stable cash flow.
The guarantee of each member is undertaken by the other members.
Our sister concern Micro Finance Software By IDSPayMicro Finance is a successful Microfinance Company of India, and through it we have helped empower hundreds of women to generate regular incomes for their families.
Documents Required for Business Loan for Women
Business loans for women may be difficult to get approved because it comes with a lot of eligibility parameters that the applicant must be able to meet. However, if that stage is covered successfully, the next step involves getting together all the business loan documents that must be submitted to Micro Finance Software By IDSPayMicro Finance to process the loan request.
• All KYC related documents for the individual’s ID, address and age proof –
Voter ID, Passport, Driving Licence, Aadhar Card, Pan Card.
• ID proof required for the company – Pan Card
• Bank statements are required for the last 6 months
• Income documents including the latest ITR for 2 years along with income computation,
balance sheet, profit and loss statements certified from a licensed CA Proof of
continuation via ITR/ Trade License / Establishment / Sales Tax Certificate
• Other documents that may also be required are a Sole Proprietorship Declaration or a
certified copy of the Partnership Deed, a certified true copy of the Memorandum Articles
of Association and the Board Resolution.
How do you Calculate the EMI for your Business Loan?
To calculate your business loan EMI, you need to consider your loan amount, the interest rate agreed upon, and the total loan tenure. You can use an online business loan EMI calculator for a clear monthly obligation estimate. This tool enables you to make informed decisions about loan tenure and amount, empowering you to plan your finances effectively before applying. It is a straightforward way to gain insights into your repayment commitment, helping you align your business loan with your financial goals and capabilities.
Reasons to Apply for a Business Loan for Women
A Business Loan for Women is designed to help women entrepreneurs pursue their business dreams & grow their ventures without facing financial constraints. Here are several compelling reasons why women entrepreneurs should consider getting a business loan:
• You can expand your operations
• You can diversify across sectors to increase
business resilience
• You can address staffing needs and match growth
demands
• You can use the money to upgrade machinery, software, and equipment for
enhanced efficiency
• With a loan, you can increase your working capital reserves
to meet rising output demands
• With the tailored support of a Business Loan for
Women, women entrepreneurs like you can seize the opportunity to fuel your business
aspirations and propel growth.
How To Apply For Business Loan For Women?
As a woman entrepreneur, applying for a business loan is a straightforward process with
Micro Finance Software By IDSPayMicro Finance. Follow these steps:
Apply here to initiate the
application.
• Choose a business loan based on your needs.
• Input the required details and
upload the necessary documents seamlessly.
• Specify the loan amount and select the
desired tenure.
• Receive an instant decision based on your information.
• If
approved, note the reference number provided for future correspondence.
• You
should expect contact from an SMFG India Credit representative for additional
information.
• Then, you will undergo document verification and address
confirmation.
• Upon verification, you’ll receive a personalized loan offer,
including the loan amount and interest rate.
• After approval, enjoy a hassle-free
disbursal of the sanctioned amount to your bank account.
Terms and conditions applicable. Loans are sanctioned at the discretion of Micro Finance Software By IDSPayMicro Finance. Please note that Aadhaar numbers should be masked before submission as per regulatory guidelines.