Who is eligible for a MSME loan in India?
MSMEs are one of the major contributors to the economic growth of India. An MSME Loan is given to a micro, small, or medium business owner to fulfil their business funding requirements. The MSME loan eligibility for Poonawalla Fincorp is quite simple and straightforward. The owner of the business must not be less than 22 years of age at the time of loan application and more than 65 years of age at the time of loan maturity. Secondly, the business must have at least 2 years of existence. Finally, the business must have a minimum annual turnover of ₹9 Lakh. If a business/business owner fulfils these criteria, then they are eligible for an MSME loan.