The Government of India has introduced MSME or Micro, Small, and Medium Enterprises in agreement with Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. These enterprises primarily engaged in the production, manufacturing, processing, or preservation of goods and commodities.
Across the globe, MSMEs are accepted as a means of economic growth and for promoting equitable development. They are known to generate the highest rate of growth in the economy. MSMEs have driven India to new heights through requirements of low investment, flexible operations, and the capacity to develop appropriate native technology.
AML understands that managing financial health is one of the most important needs of a Business. An enterprise requires funds to manage its working capital requirement as well as addition / replacement of capital assets. Asirvad Micro Finance Limited provides loans to Micro-Small and Medium Enterprises in the Manufacturing, Service, Trading and Agri-Allied activities to meet the above requirement.
Size
Secured Business Loans up to Rs 15 lacs
Tenor
Maximum 7 years
Interest
Repayment in Equated Monthly Instalments (EMI)
Secured Loan
- Size – Up to 15 Lacs
- Tenor – Maximum 7 Years
- Interest – Between 18% to 30%
Product Features
- Loans up to Rs 15 lacs
- Tenor – Maximum 7 years
- Repayment in Equated Monthly Instalments (EMI)
- Collateral Security by way of Mortgage of Immovable Property
Purpose of Loan
End use of the loan to be income-generating in nature
Indicative Interest Rate
- Between 18% to 30%
Indicative List of documents
- Proof of Address & Proof of Identity
- Proof of Banking History
- Proof of Business Continuity
- Documents for the property being offered as collateral for the facility
Note: the above list of documents is only indicative in nature and additional documents may be required on a case-to-case basis for credit assessment
Approach for Gradation of Risk
The process of gradation of risk and interest determination is primarily based on the details of Loan amount, Market Value of collateral security, Business profile, Size of the Business, Banking habits, credit history and repayment capacity of customers.
Unsecured Loan
- Size – Up to 3 Lacs
- Tenor – Maximum 3 Years
- Interest – Between 26% to 30%
Product Features
- Loans up to Rs 3 lacs
- Tenor – Maximum 3 years
- Repayment in Equated Monthly Instalments (EMI)
Purpose of Loan
End use of the loan to be income-generating in nature
Indicative Interest Rate
- Unsecured Loans
- Between 26% to 30%
Indicative List of documents
- Proof of Address & Proof of Identity
- Proof of Banking History
- Proof of Business Continuity
- Documents for the property being offered as collateral for the facility
Note: the above list of documents is only indicative in nature and additional documents may be required on a case-to-case basis for credit assessment
Approach for Gradation of Risk
The process of gradation of risk and interest determination is primarily based on the details of Loan amount, Market Value of collateral security, Business profile, Size of the Business, Banking habits, credit history and repayment capacity of customers.
Size
up to Rs 15 lacs
Tenure
Maximum 7 years
Interest
Between 18% to 30%
Product Features
- Loans up to Rs 15 lacs
- Tenor – Maximum 7 years
- Repayment in Equated Monthly Instalments (EMI)
- Collateral Security by way of Mortgage of Immovable Property
Purpose of Loan
End use of the loan to be income-generating in nature
Indicative Interest Rate
- Between 18% to 30%
Indicative List of documents
- Proof of Address & Proof of Identity
- Proof of Banking History
- Proof of Business Continuity
- Documents for the property being offered as collateral for the facility
Note: the above list of documents is only indicative in nature and additional documents may be required on a case-to-case basis for credit assessment
Approach for Gradation of Risk
The process of gradation of risk and interest determination is primarily based on the details of Loan amount, Market Value of collateral security, Business profile, Size of the Business, Banking habits, credit history and repayment capacity of customers.
Penal Charges
3% per month on the overdue amount for the actual number of days due.
Processing Fee
Loan amounts up to Rs.5,00,000/- 2.50% of loan amount + Applicable taxes.
Loan amount above Rs.5,00,000/- 1.5% of loan amount + applicable taxes.
Size
Up to 3 Lacs
Tenure
Maximum 3 Years
Interest
Between 26% to 30%
Product Features
- Loans up to Rs 3 lacs
- Tenor – Maximum 3 years
- Repayment in Equated Monthly Instalments (EMI)
Purpose of Loan
End use of the loan to be income-generating in nature
Indicative Interest Rate
- Unsecured Loans
- Between 26% to 30%
Indicative List of documents
- Proof of Address & Proof of Identity
- Proof of Banking History
- Proof of Business Continuity
- Documents for the property being offered as collateral for the facility
Note: the above list of documents is only indicative in nature and additional documents may be required on a case-to-case basis for credit assessment
Approach for Gradation of Risk
The process of gradation of risk and interest determination is primarily based on the details of Loan amount, Market Value of collateral security, Business profile, Size of the Business, Banking habits, credit history and repayment capacity of customers.
Penal Charges
3% per month on the overdue amount for the actual number of days due.
Processing Fee
2% of the sanctioned amount plus Applicable Tax (Deducted from the sanctioned amount)
